Located in Pampa Melchorita, Peru, PLNG is the only LNG export facility in South America and one of two LNG production facilities in Latin America. (Source: Shutterstock)
EIG’s LNG company MidOcean Energy has completed its acquisition of an additional 15% stake in Peru LNG (PLNG) from Hunt Oil Co., MidOcean announced in an Oct. 24 press release.
MidOcean had previously acquired an initial 20% stake in Peru LNG from SK Earthon in April. With this latest acquisition, MidOcean now holds a 35% stake in PLNG.
Hunt will remain the operator of PLNG.
Located in Pampa Melchorita, Peru, PLNG is the only LNG export facility in South America and one of two LNG production facilities in Latin America. PLNG’s assets include a natural gas liquefaction plant with 4.45 million tonnes per annum of processing capacity; a fully-owned, 408-km pipeline with 1,290 MMcf/d capacity; two 130,000-cu. m storage tanks; a fully-owned, 1.4-km marine terminal; and a truck loading facility with a capacity of up to 19.2 MMcf/d.
Financial terms of the deal were not disclosed.
Morgan Stanley acted as exclusive financial adviser to MidOcean on the transaction and Latham & Watkins acted as legal adviser. Bracewell LLP served as legal adviser to Hunt.
Recommended Reading
Lion Equity Partners Buys Global Compression from Warren Equipment
2025-01-09 - Private equity firm Lion Equity Partners has acquired Warren Equipment Co.’s Global Compression Services business.
Chevron Names Laura Lane as VP, Chief Corporate Affairs Officer
2025-01-13 - Laura Lane will succeed Al Williams in overseeing Chevron Corp.’s government affairs, communication and social investment activities.
Berry Announces Jeff Magids as New CFO
2025-01-21 - Jeff Magids was appointed as Berry Corp.’s new CFO on Jan. 21 in replacement of Mike Helm, effective immediately.
Plains All American Prices First M&A Bond of Year
2025-01-13 - U.S. integrated midstream infrastructure company Plains All American Pipeline on Jan. 13 priced a $1 billion investment-grade bond offering, the year's first to finance an acquisition.
J. Douglas Schick Succeeds PEDEVCO Majority Owner Simon Kukes as CEO
2024-12-12 - Simon G. Kukes, who took over PEDEVCO in 2018, said the company has since worked toward entering joint development agreements in the Permian and Denver-Julesburg basins.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.