DC-EIG
23.4.2024 14:01:58 CEST | Business Wire | Press release
MidOcean Energy (“MidOcean” or the “Company”), a liquefied natural gas (LNG) company formed and managed by EIG, a leading institutional investor in the global energy and infrastructure sectors, today announced the completion of its previously announced agreement to acquire SK earthon’s (“SK”) 20 percent interest in Peru LNG (“PLNG”), owner and operator of the first LNG export facility in South America.
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, operated by Hunt Oil Company, is one of only two LNG production facilities in Latin America, located in Pampa Melchorita, 170km south of Lima.
De la Rey Venter, MidOcean Energy’s CEO, said, “The completion of this investment is an important milestone in our efforts to create a global, diversified and resilient portfolio of LNG assets. 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. We look forward to a strong partnership with the PLNG co-venturers and our work towards sustaining PLNG’s positive impact for many years to come.”
The completion of this transaction follows MidOcean’s recent announcement of a strategic investment by Mitsubishi Corporation and the completion of its acquisition of Tokyo Gas Co. Ltd.’s interests in a portfolio of Australian integrated LNG projects.
Morgan Stanley acted as exclusive financial advisor to MidOcean on the transaction. Latham & Watkins acted as legal 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/20240422689680/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
The LYCRA Company Announces Strategic Partnership on Renewable LYCRA® Fiber2.4.2026 15:00:00 CEST | Press release
Agreement with Texhong Advances Sustainable Fiber Applications The LYCRA Company, a global leader in innovative and sustainable fiber solutions for the apparel and personal care industries, today announced the signing of a strategic partnership agreement with Texhong International Group Limited (“Texhong”), one of the world’s largest suppliers of core-spun cotton textiles. Under the agreement, Texhong will exclusively partner with The LYCRA Company to bring Renewable LYCRA® fiber made with 30 percent plant-based content* to China’s core-spun yarn sector. This collaboration aims to accelerate the adoption of bio-derived spandex across the global apparel and textile industry. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260402505834/en/ The LYCRA Company announced a strategic partnership with Texhong International Group for renewable LYCRA® fiber. Pictured at the signing ceremony held in Shanghai (left to right): Jason Wang,
Brightfin Unifies Brand Following Proven Optics Merger, Delivering a New Standard for Technology Cost Optimization2.4.2026 15:00:00 CEST | Press release
New identity reflects expanded vision to help CIOs “See Clearly. Spend Better.” Brightfin today announced that, following its merger with Proven Optics, the combined company will operate under a single brand: Brightfin. The unified company brings together deep expertise in Technology Expense Management (TEM) and IT Financial Management (ITFM) to help organizations better understand, manage, and reduce total technology spend. Technology spending will exceed $6 Trillion this year, and for most organizations, it remains one of the least understood. CIOs can tell you what they’re spending. Far fewer can tell you whether it’s working. “Over the past several months, we’ve brought these two businesses together around a shared purpose: help enterprise businesses better understand and optimize their technology spend,” said Joel Martins, CEO of Brightfin. “What we are seeing now is a shift. Visibility alone isn’t enough. Teams need to be able to act, tied to real financial outcomes. See Clearly.
Lenovo 360 Framework Evolves with Simplified Tiers, Services Growth Pathways, and New Technical Community2.4.2026 15:00:00 CEST | Press release
New enhancements to Lenovo 360 make growth more intuitive, profitable, and collaborative for Lenovo partners Lenovo today announced new enhancements to its global channel framework, Lenovo 360, building on the success of its channel-centric model to further simplify and accelerate partner growth. Lenovo 360 has become the foundation for how Lenovo enables, connects with, and grows alongside its global partner ecosystem. These latest updates reflect Lenovo’s continued commitment to evolving the partner experience and creating more intuitive, scalable paths to growth. "The channel is central to how we do business,” said Pascal Bourguet, Chief Sales Strategy & Channels Officer at Lenovo. “It’s how we scale, how we innovate, and how we grow together. With these latest enhancements to Lenovo 360, we’re making it simpler, more predictable, and more rewarding for partners to build their business with us. From services-led growth to new technical communities and streamlined tiering, we’re focu
IFF Launches PureStrong™, a Probiotic Made Specifically for Dogs2.4.2026 14:15:00 CEST | Press release
IFF (NYSE: IFF)—a global leader in flavors, fragrances, food ingredients and health & biosciences—is introducing PureStrong™, a new probiotic developed exclusively for canine digestive health. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260401736960/en/ IFF introduces PureStrong™, a probiotic made specifically for dogs. Today, many people consider their pet dogs part of the family. This shift is fueling rapid growth in the $3.2 billion U.S. pet supplement market. With nearly half of U.S. pet owners having purchased or considering probiotics for their dogs, PureStrong™ sets a new standard: pet‑first science built specifically for canine biology. “PureStrong™ is sourced directly from the microbiome of healthy canines and designed to support how dogs actually live—how they eat, travel, age and adapt to change,” said Allyson Fish, senior vice president of health sciences for IFF. “That’s how IFF leads pet wellness: science-dr
Adtran extends 400G to the edge with new Terabit routing solution2.4.2026 14:00:00 CEST | Press release
News summary: Operators face rising edge capacity demands as 100G becomes standard across access, aggregation and mobile backhaul Adtran’s new Terabit-class edge routers deliver high-capacity in compact, cabinet-ready platforms Open disaggregated architecture integrates routing, optics and software-driven management for simplicity, flexibility and control Adtran today extended its edge routing portfolio with new Terabit-class edge routers, featuring 400Gbit/s interfaces. These new devices give operators a practical, cost-effective way to scale capacity at the network edge without adding space, power or operational burden. Supported by a unified software foundation that simplifies deployment and operations across the portfolio, the solutions provide a consistent, future-ready environment for edge growth. With 100Gbit/s interfaces now widely deployed across fiber access, aggregation and mobile backhaul, operators need higher-capacity edge options that reduce cost, complexity and inventor
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