MidOcean Energy Acquires 20% Interest in Peru LNG Project

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Written by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--MidOcean Energy (Washington, D.C.) announced this week it has acquired SK Earthon's (South Korea) 20% interest in Peru LNG, the first liquefied natural gas export facility in South America. Hunt Oil (Dallas, Texas) currently operates the export terminal, which is located in Pampa Melchorita on the Peruvian Pacific coast.

The Peru terminal comprises a natural gas liquefaction plant with a capacity of 4.45 million metric tons per annum (mmtpa) and a 408 km-long (253 miles) pipeline with a 1,290 million-standard-cubic-foot-per-day (mmcf/d) capacity.

This pipeline connects Peru LNG's system with the Transportadora del Gas del Peru (TGP) in the Chiquintirca community in Ayacucho, which connects Peru's Camisea natural gas production with the terminal's assets. Additionally, Peru LNG has two storage tanks with dimensions of 130,000 cubic meters and a 1.4 km-long (0.8 mile) marine terminal that can handle tankers carrying up to 174,000 cubic meters and a draught of up to twelve meters.

Also, the terminal comprises a truck-loading facility with a capacity of up to 19.2 mmcf/d.

MidOcean Chief Executive Officer De la Rey Venter 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 (Peru LNG) 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 Peru LNG terminal receives natural gas from the Camisea project, in which Hunt Oil also has a 25.2% stake. The gas is then processed into LNG to be distributed to the market.

Throughout 2023, Peru produced 1,415 mmcf/d, with the Camisea project accounting for roughly 81% of the country's total output.

Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Plant Database can click here for the Peru LNG plant profile.

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