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MidOcean Energy, an LNG company formed and managed by investment company EIG, has entered into a definitive agreement with energy company SK Earthon to acquire SK’s 20% interest in Peru LNG (PLNG).
![](https://cdn.offshorewind.biz/wp-content/uploads/sites/6/2024/02/12090348/PLANTA1-1024x533-1-768x400.jpg)
PLNG owns and operates the first LNG export plant in South America, located in Pampa Melchorita, 170 kilometers south of Lima, Peru.
According to MIdOcean Energy, PLNG’s assets comprise a natural gas liquefaction plant with 4.45 mmtpa processing capacity, a fully-owned 408-kilometer-long pipeline with 1,290 mmcf/d capacity, two 130,000 m3 storage tanks, a fully-owned 1.4-kilometer-long marine terminal and a truck loading facility with a capacity of up to 19.2 mmcf/d.
PLNG facility is operated by Hunt Oil Company and is one of only two LNG production facilities in Latin America, MidOcean Energy noted, adding:
“We believe PLNG is a highly strategic asset to the Peruvian natural gas sector, providing a key route to monetize 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.”
De la Rey Venter, MidOcean Energy CEO, commented: “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... 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 is also in the process of completing its acquisition of Tokyo Gas’ interests in four Australian LNG projects for $2.15 billion, which is targeted to close at the end of February.
To remind, in 2023, energy major Aramco signed definitive agreements to acquire a strategic minority stake in MidOcean Energy for $500 million, with Aramco having the option to increase its shareholding and associated rights in the company in the future.
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