EIG’s MidOcean Energy to Acquire SK Earthon’s 20 Percent Stake in Peru LNG

Peru LNG’s (PLNG) assets include a liquefaction plant, a 408km pipeline, storage tanks, a marine terminal and a truck-loading facility.

idOcean Energy, a portfolio company of private equity investor EIG, has agreed to acquire a 20% interest in PLNG from SK Earthon.

Reputed to be the first liquefied natural gas (LNG) export plant in South America, Peru LNG is located in Pampa Melchorita, 170km south of Lima, Peru.

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PLNG’s assets include a liquefaction plant with a capacity of 4.45 million tonnes per annum, a 408km pipeline, storage tanks, a marine terminal and a truck-loading facility.

In a press statement, MidOcean said: “We believe PLNG is a highly strategic asset to the Peruvian natural gas sector.”

The acquisition is seen as a key step in monetising Peru’s natural gas resources and supporting the country’s energy mix, which relies heavily on natural gas for electricity generation and various residential applications.

Source: offshore technology

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