MidOcean Energy to acquire SK Earthon’s 20% stake in Peru LNG

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/