{"id":4809,"date":"2024-10-24T16:18:56","date_gmt":"2024-10-24T16:18:56","guid":{"rendered":"https:\/\/dev.pixflex.com\/eig2\/?p=4809"},"modified":"2024-10-24T18:35:36","modified_gmt":"2024-10-24T18:35:36","slug":"4809-2","status":"publish","type":"post","link":"https:\/\/dev.pixflex.com\/eig2\/4809-2\/","title":{"rendered":"EIG\u2019s MidOcean Energy Completes Acquisition of Additional 15% Interest in Peru LNG from Hunt Oil Company"},"content":{"rendered":"

WASHINGTON, D.C. \u2013 MidOcean Energy (\u201cMidOcean\u201d or the \u201cCompany\u201d), a liquefied natural gas (LNG) company formed and managed by EIG, a leading institutional investor in the global energy and infrastructure sectors, today announced the completion of its previously announced agreement to acquire an additional 15% interest in Peru LNG (\u201cPLNG\u201d) from Hunt Oil Company (\u201cHunt\u201d).<\/p>\n

MidOcean\u2019s interest in PLNG now stands at 35%. Hunt will remain the operator of PLNG.<\/p>\n

PLNG owns and operates the only LNG export facility in South America, which is located in Pampa Melchorita, 170 kilometers south of Lima, Peru. PLNG\u2019s assets consist of a natural gas liquefaction plant with 4.45 mmtpa processing capacity; a fully-owned 408 kilometer pipeline with 1,290 mmcf\/d capacity; two 130,000 m3 storage tanks; a fully-owned 1.4 kilometer marine terminal; and a truck loading facility with a capacity of up to 19.2 mmcf\/d. PLNG is operated by Hunt and is one of only two LNG production facilities in Latin America.<\/p>\n

Morgan Stanley acted as exclusive financial advisor to MidOcean on the transaction and Latham & Watkins acted as legal advisor. Bracewell LLP served as legal advisor to Hunt.<\/p>\n

About MidOcean Energy<\/strong>
\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.<\/p>\n

About EIG<\/strong>
\nEIG is a leading institutional investor in the global energy and infrastructure sectors, with $24.9 billion under management as of June 30, 2024. EIG specializes in private investments in energy and energy-related infrastructure on a global basis. During its 42-year history, EIG has committed over $48.6 billion to the energy sector through 413 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

About Hunt Oil Company<\/strong>
\nFounded in 1934, Hunt is one of the largest privately held independent oil and gas companies in the United States. Based in Dallas, Texas, the company\u2019s principal areas of operations are located in Peru, the United States and the Kurdistan Region of Iraq, as well as exploration projects in Tunisia and Morocco. Hunt is an active international exploration company and has drilled on all continents other than Antarctica.<\/p>\n

For additional information, please visit MidOcean Energy\u2019s website at www.midoceanenergy.com<\/a> or EIG\u2019s website at www.eigpartners.com<\/a>.<\/p>\n

\nEIG\/MidOcean Contact Information<\/strong>
\nFGS Global
\nKelly Kimberly \/ Brandon Messina
\n+1 212-687-8080
\nEIG@fgsglobal.com<\/a><\/p>\n

Hunt Contact Information<\/strong>
\nPaul Schulze
\n+1 214-978-8534
\npublicaffairs@huntconsolidated.com<\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

WASHINGTON, D.C. \u2013 MidOcean Energy (\u201cMidOcean\u201d or the \u201cCompany\u201d), a liquefied natural gas (LNG) company formed and managed by EIG, a leading institutional investor in the global energy and infrastructure sectors, today announced the completion of its previously announced agreement to acquire an additional 15% interest in Peru LNG (\u201cPLNG\u201d) from Hunt Oil Company (\u201cHunt\u201d). 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