MidOcean Energy, owned by EIG, has completed the acquisition of a 20% stake in Peru LNG (PLNG), the owner and operator of the first LNG export facility in South America. This is reported in the EIG press release.
PLNG's assets include a natural gas liquefaction plant with a capacity of 4.45 million tons per year, a 408 km long pipeline fully owned by the company with a capacity of 1,290 million cubic feet per day, two storage tanks with a volume of 130,000 m3, a 1.4 km long marine terminal fully owned by the company and an auto-filling complex with a capacity of up to 19.2 million cubic meters. feet per day. PLNG, operated by Hunt Oil Company, is one of two LNG plants in Latin America, located in Pampa Melchorita, 170 km south of Lima. PLNG plays an important role in providing gas and LNG to consumers in Peru.
The completion of this transaction follows MidOcean's recent announcement of strategic investments by Mitsubishi Corporation and the completion of the acquisition by Tokyo Gas Co. Ltd. of a stake in the portfolio of Australian integrated LNG projects.
Morgan Stanley acted as MidOcean's financial advisor on this transaction. Latham & Watkins acted as MidOcean's legal advisor on the transaction.
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EIG is a major institutional investor in the global energy and infrastructure sectors. The company has assets worth $24 billion under management. Since its founding, EIG has invested more than $41.5 billion in the energy sector to implement 387 projects. EIG's clients include large pension funds, insurance companies, endowment funds, and sovereign wealth funds in the United States, Asia, and Europe. EIG is headquartered in Washington, D.C. with offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong and Seoul.
MidOcean Energy is a subsidiary of EIG in the LNG production sector. The company offers services to build a diversified and competitive LNG portfolio. MidOcean was founded in 2022 and is headquartered in Washington, DC.
