Latham & Watkins Advises MidOcean Energy in Its Acquisition of 20% Stake in Peru LNG

MidOcean Energy (MidOcean), an LNG company formed and managed by EIG, a leading institutional investor in the global energy and infrastructure sectors, has 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.

Latham & Watkins LLP represents MidOcean in the transaction with an M&A team led by partners Charlie Carpenter and Justin T. Stolte, with associates Greg Sorensen, Carlyle Reid, Melanie von Staa Toledo, Caroline Silverstein, and Mark Goshgarian. Advice was also provided on tax matters by partners Tim Fenn and Jared Grimley, with associate Christina McLeod, and on project development matters by partner Chris Peponis and counsel Brian Hintze, with associates Ikechukwu Obioma and Jeffrey Romano.