MidOcean Energy, managed by EIG, has completed its acquisition of SK earthon’s 20 per cent interest in Peru LNG (PLNG) — the first LNG export facility in South America.
This strategic move strengthens MidOcean’s position in the global LNG market.
PLNG’s assets include a natural gas liquefaction plant with 4.45 mmtpa processing capacity, a 408 km-long pipeline, two 130,000 m3 storage tanks, a marine terminal, and a truck loading facility.
Located in Pampa Melchorita, PLNG is the only LNG export facility in South America, providing gas and LNG to customers in Peru.
De la Rey Venter, MidOcean Energy’s CEO, highlighted the importance of this investment, stating: “PLNG is uniquely positioned in the global marketplace. It plays an important role in providing gas and LNG to customers in Peru.”
This transaction follows MidOcean’s recent strategic investment by Mitsubishi Corporation and the completion of its acquisition of Tokyo Gas Co. Ltd.’s interests in Australian integrated LNG projects.
Morgan Stanley advised MidOcean on the transaction, and Latham & Watkins provided legal counsel.
EIG, a major institutional investor in the energy and infrastructure sectors, manages MidOcean Energy.
With $22.9 billion under management, EIG specialises in private investments in energy and energy-related infrastructure globally.
MidOcean Energy, under De la Rey Venter’s leadership, aims to build a diversified, resilient, cost, and carbon-competitive global LNG portfolio.
It reflects EIG’s belief in LNG as a critical enabler of the energy transition and the growing importance of LNG as a geopolitically strategic energy resource.
