MidOcean Energy takes 20% stake in Peru LNG

PLNG is the owner and operator of the first LNG export facility in South America.  Morgan Stanley acted as the exclusive financial advisor to MidOcean, and Latham & Watkins as its legal advisor.

Peru LNG features a natural gas liquefaction plant with 4.45 millon tonnes per annum processing capacity, a 408-km pipeline, two 130,000 cu metre storage tanks, a truck loading facility and 1.4 km terminal.

Hunt Oil Company handles the pipeline and plant operations at Peru LNG, which is owned by Hunt (50%), Shell (20%), MidOcean (20%), and Marubeni Corporation (10%).

The plant is said to be one of only two LNG production facilities in Latin America, located in Pampa Melchorita, 170 kms south of Peru’s capital, Lima. The port facility can handle tankers carrying 90,000–174,200 cubic metres of LNG.

“As the only LNG export facility in South America, PLNG is uniquely positioned in the global marketplace. PLNG also plays an important role in providing gas and LNG to customers in Peru,” said De la Rey Venter, MidOcean Energy’s CEO.