Liquefied natural gas (LNG) business MidOcean Energy has completed the purchase of an additional 15% stake in Peru LNG (PLNG).
Post-purchase, MidOcean now owns a 35% interest in PLNG. It acquired the 15% from Hunt Oil Company.
PLNG owns and operates the only LNG export facility in Pampa Melchorita, South America, 170 kilometres south of Lima, Peru.
The acquisition was initially announced in September and was funded by audi Arabian oil and gas giant Aramco.
Read more: MidOcean Energy to increase stake in Peru LNG to 49%
PLNG consists of a natural gas liquefaction plant with 4.45 million tonnes per annum processing capacity; a 408-kilometre pipeline with 1,290 million cubic feet per day (mmcf/d) capacity; two 130,000 m3 storage tanks; a 1.4-kilometre marine terminal; and a truck loading facility with a capacity of up to 19.2 mmcf/d.
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