EIG’s MidOcean Energy completes acquisition of 20% stake in Peru LNG

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.hydrocarbonengineering.com/gas-processing/23042024/eigs-midocean-energy-completes-acquisition-of-20t-stake-in-peru-lng/