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.
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