EIG-backed MidOcean Energy to acquire SK Earthon’s 20 percent stake in Peru LNG

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

  • Morgan Stanley acted as financial advisor to MidOcean on the transaction
  • Headquartered in Washington, D.C., EIG invests in the energy and infrastructure sectors
  • EIG has $22.9 billion under management as of December 31, 2023

MidOcean Energy, which is backed by EIG, has agreed to acquire SK Earthon’s 20 percent stake in Peru LNG, an owner and operator of an LNG export plant in Peru. No financial terms were disclosed.

MidOcean Energy is an LNG company formed and managed by EIG.

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

On the deal, De la Rey Venter, MidOcean Energy CEO, said in a statement, “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. PLNG is an asset we know and admire, with sound long-term fundamentals, a strong management team and reliable operations.”

MidOcean also is in the process of completing its acquisition of Tokyo Gas’ interests in four Australian LNG projects for $2.15 billion, which is targeted to close at the end of February.

Morgan Stanley acted as financial advisor to MidOcean on the transaction.

Headquartered in Washington, D.C., EIG invests in the energy and infrastructure sectors. The firm has $22.9 billion under management as of December 31, 2023.