MidOcean Energy, an LNG company formed and managed by EIG, has entered into an agreement to acquire SK Earthon’s 20 percent interest in Peru LNG (PLNG), the owner and operator of the first LNG export plant in South America. Financial terms were not disclosed.
PLNG, which is located in Pampa Melchorita, Peru, owns and operates the first LNG export plant in South America. PLNG’s assets consist of a natural gas liquefaction plant with 4.45 million metric tons per year of processing capacity; a 408-kilometer (254-mile) pipeline; two 130,000 cubic-meter storage tanks; a 1.4 kilometer (0.8-mile)-long marine terminal; and a truck loading facility with capacity of up to 19.2 million cubic feet per day.
PLNG is operated by Hunt Oil Co. and is one of only two LNG production facilities in Latin America.
MidOcean Energy considers PLNG a highly strategic asset to the Peruvian natural gas sector, as it plays an important role in supplying LNG to residential and industrial
