GNL Quintero secures $1.1 bln natgas plant financing

SANTIAGO, June 23 (Reuters) - GNL Quintero, a consortium building a liquefied regasification terminal for natural gas in central Chile, said on Monday it had secured $1.1 billion in long-term financing for the project.

The consortium, which is developing the project at Quintero Bay, said it had reached a 15-year sydnicated loan agreement with a host of banks including BBVA, Santander and ING.

The project is due to enter operations in June 2009 and is part of Chile's drive to break its dependence on unreliable supplies of the fuel from Argentina.

GNL Quintero partners include Endesa Chile END.SN, state oil company ENAP, Metrogas Chile and BG Group Plc (BG.L) BRG.N. (Reporting by Monica Vargas, Writing by Simon Gardner)