OMERS infrastructure investment manager Borealis Infrastructure has agreed to purchase a 34.6% interest in land-based terminal, GNL Quintero, in Chile.

Under the terms of the agreement, OMERS, officially the Ontario Municipal Employees Retirement System, has provided Enagás with a 12 month call option for 5% of its shares.

Situated 160 km northwest of Santiago, GNLQ is claimed to be the southern hemisphere’s first land-based terminal, which will involve in the receiving, unloading, storage and regasification of up to 15 million cubic meters / day of liquefied natural gas (LNG).

It supplies energy to various markets, comprising of residential and industrial users, power generators and the transportation sector.

GNLQ has started operations in 2009, while the terminal´s truck loading capacity and regasification capacity were increased in 2014 and 2015.

The facility has supported the operations of nine gas fired power plants, two refineries, 450 industries, around 700,000 commercial and residential customers and 7,000 commercial vehicles, since it began operations.

In addition, the terminal had helped to ship over 40,000 LNG tanker trucks to serve customers, which are not connected to the pipeline grid.

In 2016, GNLQ´s production is also comprised of natural gas volumes, which were supplied to Argentina by pipeline over the Andes Mountains during the winter months.

The facility includes LNG tanker docking facility, three storage tanks, four vaporizers and four-bay truck loading station.

OMERS infrastructure global head and executive vice president Ralph Berg said: “Today marks not only our first direct infrastructure investment in Chile, but also signals our entrance into South America. GNLQ is one of the most relevant terminals in the region, providing critical regasification and storage capacity to central Chile.

“GNLQ is a well-managed, world-class asset that aligns closely with our ongoing effort to diversify our global portfolio of core infrastructure holdings – and pay pensions to our members.”