MidOcean Energy completes acquisition of 20% in Peru LNG
Published by Jessica Casey,
Editor
LNG Industry,
MidOcean Energy, an LNG company formed and managed by EIG, a leading institutional investor in the global energy and infrastructure sectors, has announced the completion of its previously announced agreement to acquire SK earthon’s 20% interest in Peru LNG (PLNG), owner and operator of the first LNG export facility in South America.
PLNG’s assets comprise a natural gas liquefaction plant with 4.45 million tpy processing capacity, a fully-owned 408 km-long pipeline with 1290 million ft3/d capacity, two 130 000 m3 storage tanks, a fully-owned 1.4 km-long marine terminal and a truck loading facility with capacity of up to 19.2 million ft3/d. PLNG, operated by Hunt Oil Company, is one of only two LNG production facilities in Latin America, located in Pampa Melchorita, 170 km south of Lima.
De la Rey Venter, MidOcean Energy’s CEO, said: “The completion of this investment is an important milestone in our efforts to create a global, diversified, and resilient portfolio of LNG assets. As the only LNG export facility in South America, PLNG is uniquely positioned in the global marketplace. PLNG also plays an important role in providing gas and LNG to customers in Peru. We look forward to a strong partnership with the PLNG co-venturers and our work towards sustaining PLNG’s positive impact for many years to come.”
The completion of this transaction follows MidOcean’s recent announcement of a strategic investment by Mitsubishi Corp. and the completion of its acquisition of Tokyo Gas Co. Ltd’s interests in a portfolio of Australian integrated LNG projects.
Morgan Stanley acted as exclusive financial advisor to MidOcean on the transaction. Latham & Watkins acted as legal advisor to MidOcean on the transaction.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/24042024/midocean-energy-completes-acquisition-of-20-in-peru-lng/
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