MidOcean Energy, an EIG-managed LNG company, has entered into a definitive agreement to acquire an additional 15% interest in Peru LNG from Hunt Oil Company. This transaction, upon completion, will increase MidOcean's stake in the South American liquified natural gas (LNG) export project from 20% to 35%.

PLNG owns and operates the only LNG export facility in South America, which is located in Pampa Melchorita, Peru.

Liquefied natural gas company MidOcean, which is backed by private equity fund EIG, expanded its stake in Peru LNG, the second-largest Latin American exporter of the fuel after Trinidad and Tobago.

Through this deal, Aramco will hold an indirect 17.2% stake in Peru LNG. Aramco to increase stake in EIG’s MidOcean to 49%, invest in Peru LNG. ANALYSIS, Exploration & Production, Industry Trends, International News,