ENGGY Enagas SA (PK)

Dutch tank storage service provider Royal Vopak NV (VPK.AE) and Spanish Enagas SA (ENAEX.SN) Thursday said they have reached an agreement to acquire 100% of the shares in the LNG import and re-gasification terminal in Altamira, Mexico from the current owners Royal Dutch Shell (RDSA), Total SA (TOT and Mitsui & Co., LTD. (8031.TO) .

MAIN FACTS:

- Shell owned 50%, Total 25% and Mitsui 25% of the LNG terminal

- For this purpose, a joint venture has been established in which Vopak owns 60% of the shares and Enagas 40% (with joint management control).

- The closing of the transaction is subject to the conclusion of project financing and government approvals.

- The LNG terminal facilitates overseas LNG imports and supply of gas into Mexico by a joint venture of Shell and Total, and has been operational since 2006 under the highest safety and technical standards.

- The facility consists of 2 fully operational tanks of 150,000 cubic meters (cbm) each and a

jetty capable of receiving LNG vessels with a capacity of up to 216,000 cbm.

- The terminal has a throughput capacity of 7.4 billion cubic meters per annum (bcma), which is fully contracted for a longterm period.

- The capacity can be expanded up to 10 bcma by building and operating a third tank.

- The Vopak/Enagas joint venture is expected to take over operational control in Q3 2011.

- By Amsterdam Bureau, Dow Jones Newswires; amsterdam@dowjones.com

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