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Article: Eurogas Corporation: News Release
- Article from:
- CCNMatthews Newswire
- Article date:
- December 20, 2007
CopyrightCopyright 2007 CCNMatthews Newswire. Provided by ProQuest LLC. (Hide copyright information)
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CALGARY, ALBERTA--(Marketwire - Dec. 20, 2007) - Eurogas
Corporation (Eurogas) (TSX VENTURE:EUG) is pleased to announce that
it has entered into an agreement with ACS Group and Enagas that will
significantly advance the Castor Underground Gas Storage (UGS)
Project in Spain.
At the commencement of the agreement, ACS will increase its
ownership in Escal UGS S.L. (the Spanish operating company) from 5%
to 66.67%. Castor Limited Partnership (CLP), of which Eurogas is a
73.7% owner, will own 33.33%.
At the latest of the start-up of the UGS facility, ACS will sell
and Enagas will buy 50% of ACS 66.67% equity on a pre-established
pricing formula at which point CLP, ACS and Enagas will each own ...