Endesa 'blocks' BG's sale of Chile LNG stake

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By News Wires

 29 January 2013 17:32 GMT

BG Group's planned sale of a remaining stake in a shared LNG terminal in Chile is being blocked by fellow shareholder Endesa Chile as the companies clash over supplies of the fuel, according to a report.

"Naturally we are disappointed that we have been unable to conclude a sale of the final tranche under the planned timetable," a BG spokesperson told Reuters. "This is due to a third party withholding consent. We remain committed to a sale and remain confident that a transaction will be completed, but under a new timeline."

The companies locked horns last year after UK gas player BG Group said production troubles in Egypt might affect LNG supplies to two of its Chilean customers, including regional power generator Endesa Chile.

An industry source said Endesa…

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