MidOcean Energy, an LNG company founded and managed by energy and infrastructure investor EIG, has agreed to acquire from SK Earthon (SK) its 20% interest in Peru LNG (PLNG).
PLNG owns and operates the first LNG export plant in South America, in Pampa Melchorita, 170 km south of Lima, Peru. PLNG's assets include a natural gas liquefaction plant with a processing capacity of 4.45 million tonnes/year (tpy), a 408-km pipeline with a capacity of 1,290 MMcfd wholly owned by the company, two 130,000 cu m storage tanks, a 1.4-km marine terminal owned by the company, and a truck terminal with a capacity of up to 19.2 MMcfd. PLNG is run by Hunt Oil Co. and is one of only two LNG production plants in Latin America.
The PLNG transaction is subject to the usual consummation conditions.
The company said it continues to work toward completion of a deal signed in 2022 to acquire Tokyo Gas' stake in four Australian LNG projects for $2.15 billion (OGJ Online, Oct. 10, 2022). The deal is expected to close at the end of this month.
