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
Energy Sector Sees Dramatic Increase in Private Equity Funding
2024-11-21 - In a 10-day period, private equity firms announced almost $20 billion in energy funding. Is an end in sight for the fossil fuel capital drought?
Expand Energy Announces $500MM Tender Offer for 2026 Notes
2024-11-20 - Expand also issued a conditional notice of redemption for all of its outstanding 8.375% Senior Notes due 2028.
Vistra to Offer Senior Notes for Equity Interest Repayment
2024-11-19 - Vistra Corp. said the proceeds from the offer will be used toward an early payout for the installment purchase of Avenue Capital Management II’s interest in Vistra Vision.
US Energy Secretary Nominee Chris Wright Champions Energy at DUG GAS
2024-11-19 - President-elect Donald Trump's energy secretary nominee Chris Wright championed energy's role in bettering human lives earlier this year on stage at Hart Energy’s DUG GAS Conference and Expo.
Carbon Removal Company Equatic Appoints New CEO
2024-11-18 - Equatic appointed a new CEO in preparation to launch the world’s largest ocean-based carbon removal plant.
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.