Investment firm EIG’s LNG company MidOcean Energy has entered into a definitive agreement to acquire SK Earthon’s 20% interest in Peru LNG (PLNG), EIG announced in a Feb. 8 press release.

Peru LNG owns and operates the first LNG export plant in South America in Pampa Melchorita, Peru. Its assets include a 4.45 mtpa-processing capacity liquefaction plant, a 408-km pipeline with 1.29 MMcf/d capacity, two 130,000 cu.m storage tanks, a 1.4-km marine terminal and a 19.2 MMcf/d capacity truck loading facility.

Peru LNG is operated by Hunt Oil Co. and is one of only two LNG production facilities in Latin America.

“We’re excited about this acquisition as it reflects another notable step in MidOcean’s strategy to create a global, diversified and resilient LNG portfolio," said De la Rey Venter, MidOcean Energy’s CEO. "PLNG is an asset we know and admire, with sound long-term fundamentals, a strong management team and reliable operations."

Morgan Stanley acted as exclusive financial adviser to MidOcean on the transaction, which is subject to customary closing conditions.

MidOcean is also in the process of completing a US$2.15 billion deal to acquire Tokyo Gas interests in four Australian LNG projects. The acquisition is expected to close at the end of this month. 

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