Colombia's Grupo Energy picks up $650M stake in Peru gas pipeline
Colombia's Grupo Energia de Bogota announced on Thursday that it has entered an agreement to purchase a stake in a major gas pipeline operating consortium in Peru, according to The Wall Street Journal (WSJ).
Grupo Energia de Bogota said it inked a deal with Tecpetrol International SA to take its 23.61% interest in the consortium Transportadora de Gas del Peru (TgP). The deal was done through the Colombian group's subsidiary, Transportadora de Gas Internacional SA, the report detailed.
TgP operates a pipeline that delivers gas from the southern Amazon region of Peru to the Pacific coast, the report added.
Other firms have recently exited their stake in the TgP consortium. Last November, Peru-based construction company Grana y Monetero SAA announced that it inked a deal to buy Pluspetrol Resource Corp's 12.38% stake in the said consortium, the report stated.
Hunt Oil of the US, South Korea's SK Corporation, Franco-Belgian GDF Suez-Tractebel SA, and Sonatrach of Algeria also own a stake in the TgP consortium, WSJ reported.