WASHINGTON, DC,\u00a0 \u2013 MidOcean Energy (\u201cMidOcean\u201d), an LNG company formed and managed by EIG, a leading institutional investor in the global energy and infrastructure sectors, today announced that it has entered into a definitive agreement with SK Earthon (\u201cSK\u201d) to acquire SK\u2019s 20 percent interest in Peru LNG (\u201cPLNG\u201d).<\/p>\n
PLNG owns and operates the first LNG export plant in South America, located in Pampa Melchorita, 170km south of Lima, Peru. PLNG\u2019s assets comprise a natural gas liquefaction plant with 4.45 mmtpa processing capacity, a fully-owned 408km-long pipeline with 1,290 mmcf\/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 mmcf\/d. PLNG is operated by Hunt Oil Company and is one of only two LNG production facilities in Latin America.<\/p>\n
We believe PLNG is a highly strategic asset to the Peruvian natural gas sector, providing a key route to monetise its natural gas resources via export. It also plays an important role in supplying LNG to residential and industrial customers as well as CNG-powered vehicles in various cities across the country. The natural gas sector has become an increasingly important part of the Peruvian energy mix, underpinning electricity generation for the industrial sector as well as various applications across the residential sector.<\/p>\n
De la Rey Venter, MidOcean Energy CEO, said, \u201cWe\u2019re excited about this acquisition as it reflects another notable step in MidOcean\u2019s 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.<\/p>\n
MidOcean also is in the process of completing its acquisition of Tokyo Gas\u2019 interests in four Australian LNG projects for US$2.15 billion, which is targeted to close at the end of February.<\/p>\n
The PLNG transaction is subject to customary closing conditions.<\/p>\n
Morgan Stanley acted as exclusive financial advisor to MidOcean on the transaction.<\/p>\n
About EIG<\/strong> About MidOcean Energy<\/strong> EIG Media Contacts<\/strong> WASHINGTON, DC,\u00a0 \u2013 MidOcean Energy (\u201cMidOcean\u201d), an LNG company formed and managed by EIG, a leading institutional investor in the global energy and infrastructure sectors, today announced that it has entered into a definitive agreement with SK Earthon (\u201cSK\u201d) to acquire SK\u2019s 20 percent interest in Peru LNG (\u201cPLNG\u201d). PLNG owns and operates the first […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4555","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"\n
\nEIG is a leading institutional investor in the global energy and infrastructure sectors with $22.9 billion under management as of December 31, 2023. EIG specializes in private investments in energy and energy-related infrastructure on a global basis. During its 41-year history, EIG has committed over $47.1 billion to the energy sector through over 405 projects or companies in 42 countries on six continents. EIG\u2019s clients include many of the leading pension plans, insurance companies, endowments, foundations and sovereign wealth funds in the U.S., Asia and Europe. EIG is headquartered in Washington, D.C. with offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong and Seoul.<\/p>\n
\nMidOcean Energy, an LNG company formed and managed by EIG, seeks to build a diversified, resilient, cost and carbon competitive global LNG portfolio. It reflects EIG\u2019s belief in LNG as a critical enabler of the energy transition and the growing importance of LNG as a geopolitically strategic energy resource. MidOcean Energy is headed by De la Rey Venter, a 26-year industry veteran who has held a variety of senior executive roles, including Global Head of LNG for Shell Plc. For additional information, please visit EIG\u2019s website at www.eigpartners.com or MidOcean Energy\u2019s website at www.midoceanenergy.com.<\/p>\n
\nFGS Global
\nKelly Kimberly \/ Brandon Messina
\n+1 212-687-8080
\nEIG@fgsglobal.com<\/p>\n","protected":false},"excerpt":{"rendered":"