MidOcean Energy, an LNG company formed and managed by EIG, has plans to acquire an additional 15 percent interest in Peru LNG from Hunt Oil Company, increasing its stake in PLNG from 20 percent to 35 percent.
PLNG is one of only two LNG production facilities in Latin America. PLNG’s assets consist of a natural gas liquefaction plant with 4.45 million metric tonnes per annum (mmtpa) processing capacity; a fully owned 408-kilometer (254-mile) pipeline with 1,290 million cubic feet per day (mmcf/d) capacity; two 130,000-cubic-meter storage tanks; a fully-owned 1.4-kilometer (0.86-mile) marine terminal; and a truck loading facility with a capacity of up to 19.2 mmcf/d.
MidOcean’s strategic investor Aramco played a pivotal role in the transaction, including undertaking key technical and commercial due diligence, as well as engaging with key stakeholders for transaction approval. The transaction will be funded entirely by Aramco, which will increase its interest in MidOc