DC-EIG
MidOcean Energy (“MidOcean”), an LNG company formed and managed by EIG, a leading institutional investor in the global energy and infrastructure sectors, today announced that it has entered into a definitive agreement with SK Earthon (“SK”) to acquire SK’s 20 percent interest in Peru LNG (“PLNG”).
PLNG owns and operates the first LNG export plant in South America, located in Pampa Melchorita, 170km south of Lima, Peru. PLNG’s assets comprise a natural gas liquefaction plant with 4.45 mmtpa processing capacity, a fully-owned 408km-long pipeline with 1,290 mmcf/d capacity, two 130,000 m3 storage tanks, a fully-owned 1.4 km-long marine terminal and a truck loading facility with capacity of up to 19.2 mmcf/d. PLNG is operated by Hunt Oil Company and is one of only two LNG production facilities in Latin America.
We believe PLNG is a highly strategic asset to the Peruvian natural gas sector, providing a key route to monetise its natural gas resources via export. It also plays an important role in supplying LNG to residential and industrial customers as well as CNG-powered vehicles in various cities across the country. The natural gas sector has become an increasingly important part of the Peruvian energy mix, underpinning electricity generation for the industrial sector as well as various applications across the residential sector.
De la Rey Venter, MidOcean Energy CEO, said, “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. We look forward to joining the PLNG partnership and contributing to the long-term prosperity of that venture and its work toward being a positive role in the Peruvian energy market.”
MidOcean also is in the process of completing its acquisition of Tokyo Gas’ interests in four Australian LNG projects for US$2.15 billion, which is targeted to close at the end of February.
The PLNG transaction is subject to customary closing conditions.
Morgan Stanley acted as exclusive financial advisor to MidOcean on the transaction.
About EIG
EIG is a leading institutional investor in the global energy and infrastructure sectors with $22.9 billion under management as of December 31, 2023. EIG specializes in private investments in energy and energy-related infrastructure on a global basis. During its 41-year history, EIG has committed over $47.1 billion to the energy sector through over 405 projects or companies in 42 countries on six continents. EIG’s clients include many of the leading pension plans, insurance companies, endowments, foundations and sovereign wealth funds in the U.S., Asia and Europe. EIG is headquartered in Washington, D.C. with offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong and Seoul.
About MidOcean Energy
MidOcean Energy, an LNG company formed and managed by EIG, seeks to build a diversified, resilient, cost and carbon competitive global LNG portfolio. It reflects EIG’s belief in LNG as a critical enabler of the energy transition and the growing importance of LNG as a geopolitically strategic energy resource. MidOcean Energy is headed by De la Rey Venter, a 26-year industry veteran who has held a variety of senior executive roles, including Global Head of LNG for Shell Plc. For additional information, please visit EIG’s website at www.eigpartners.com or MidOcean Energy’s website at www.midoceanenergy.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240208939318/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Suzano Launches Nature Strategy and Reinforces the Strategic Importance of Biodiversity Conservation to the Business9.12.2025 16:41:00 CET | Press release
This initiative brings together science and stakeholder collaboration to drive solutions to biodiversity challenges at scale Suzano, the world’s largest pulp producer, has launched its Nature Strategy, reaffirming the company's commitment to biodiversity and how it guides decision-making within the business. Suzano's operations depend directly on nature, and the company recognizes that its longevity and ability to innovate are intrinsically linked to the health of ecosystems. Therefore, nature occupies a significant strategic role in the business’ vision. The science-led Nature Strategy, developed in collaboration with IUCN, is guided by the mitigation hierarchy: avoid, reduce, restore and transform. This approach enables the prevention of impacts, the minimization of risks, and the promotion of ecosystem regeneration. With support from IUCN, Suzano has pioneered the use of the STAR metric – a tool that enables the company to map sensitive areas within the territories where it operates
Winners of the Global Prize for Innovation in Water Announced9.12.2025 16:28:00 CET | Press release
The city of Jeddah today witnessed a landmark global event with the announcement of the winners of the Global Prize for Innovation in Water in its third edition, marking the conclusion of a highly competitive showcase that drew the attention of the international water community. The winners were revealed during the opening ceremony held as part of the fourth edition of the Innovation Driven Water Sustainability Conference (IDWS2025). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251209514013/en/ Winners of the Global Prize for Innovation in Water Announced (Photo: AETOSWire) During the ceremony, the names of 14 winners were announced. Their pioneering solutions succeeded in meeting the rigorous criteria set by the international jury panel. With total prizes amounting to 10 million dollars across all stages, the award recognizes exceptional efforts in transforming research ideas into practical, real-world water technologies.
ITA Group Expands Global Event Capabilities With Two European Acquisitions9.12.2025 16:00:00 CET | Press release
Engagement solutions leader acquires C2events in England and Daymakers in the Netherlands, strengthening their ability to deliver locally managed experiences worldwide ITA Group, a global leader in engagement solutions, is announcing the strategic acquisition of two award-winning European event agencies: C2events, based in West Yorkshire, England, and Daymakers, based in Utrecht, Netherlands. Effective October 31, 2025, these acquisitions significantly expand ITA Group's local presence and event capabilities throughout Europe. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251209885574/en/ Back row: Mark Saxby – C2, Executive Director, Brent Vander Waal – ITA Group, CEO; Front row: Sarah Haines – ITA Group, President Event Solutions, Sophie Hopes – C2, Client Services Director, Danielle Gunn – C2, Client Services Director, Cheryl Clarke – C2, Executive Director, Erica Lalk – ITA Group, Director - Global & Event Strategy The
Grid Dynamics Signs Strategic Collaboration Agreement with AWS to Advance Data Foundations for Generative AI9.12.2025 15:15:00 CET | Press release
Key Takeaways: Grid Dynamics has signed a multi-year agreement with Amazon Web Services (AWS) to accelerate AI-related services for enterprise customers. The agreement extends a 15-year collaboration and provides Grid Dynamics access to the AWS Data Foundations for Generative AI Program designed to help enterprises adopt and scale AI-enabled solutions. Through this expanded collaboration, Grid Dynamics is set to empower clients across every stage of their AI journey with modern, scalable, and secure data foundations from AWS. Grid Dynamics Holdings, Inc. (NASDAQ: GDYN) (Grid Dynamics), a premier IT consulting and digital services provider, today announced it has entered into a multi-year strategic collaboration agreement (SCA) with Amazon Web Services (AWS). The agreement focuses on enabling and scaling generative AI journeys for enterprise companies, extending a 15-year relationship between the companies. The collaboration provides Grid Dynamics access to the AWS Data Foundations for
Indero Named Best Employer by Mercer9.12.2025 15:00:00 CET | Press release
Indero, a global CRO specializing in dermatology and rheumatology, has been honored by Mercer, recognizing its excellence as a Best Employer. Indero is proud of its long-term commitment to building a workplace culture defined by trust, fairness, and meaningful employee experiences and believes this distinction reflects its positive impact in 2025. The Best Employers in Canada – Powered by Mercer certification program recognizes organizations that consistently deliver a positive and engaging employee experience, based on employee feedback. The degree of employee engagement is a crucial factor for both current and prospective clients and partners, since motivated and committed employees are more likely to excel in their roles and ensure the highest standards in the organization’s products and services. Formerly known as the Kincentric Best Employers, the program has highlighted Canada’s top workplaces for over 25 years and now benefits from Mercer’s expanded global reach and one of the m
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom