MidOcean Energy to acquire SK Earthon’s 20% stake in Peru LNG
Published by Poppy Clements,
Assistant Editor
Hydrocarbon Engineering,
PLNG owns and operates the first LNG export plant in South America, located in Pampa Melchorita, 170 km south of Lima, Peru. 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 is operated by Hunt Oil Company and is one of only two LNG production facilities in Latin America.
De la Rey Venter, MidOcean Energy CEO, said: “We’re excited about this acquisition as it reflects another notable step in MidOcean’s strategy to create a global, diversified and resilient LNG portfolio. PLNG is an asset we know and admire, with sound long-term fundamentals, a strong management team and reliable operations. We look forward to joining the PLNG partnership and contributing to the long-term prosperity of that venture and its work toward being a positive role in the Peruvian energy market.”
MidOcean also is in the process of completing its acquisition of Tokyo Gas’ interests in four Australian LNG projects for US$2.15 billion, which is targeted to close at the end of February 2024.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/08022024/midocean-energy-to-acquire-sk-earthons-20-stake-in-peru-lng/
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