Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP NEWS AGENCY) = SK Earthon sold its Peru LNG stake to Peru LNG Company, LLC, to secure money for its future growth.

SK Earthon signed a $256 million (or 340 billion won) stake transfer agreement with MidOcean Energy to sell 20% of its Peru LNG stake on February 7.

Peru LNG has a liquefied natural gas (LNG) plant that started producing in 2010. Global energy companies, such as Hunt Oil Company, Shell, and Marubeni, share Peru LNG’s stakes, of which SK Earthon has 20%.

MidOcean Energy was established in 2022 as a subsidiary of EIG, an American private equity fund specializing in energy investment to expand the LNG business. The company has been running multiple projects, including an equity acquisition for LNG assets in Australia from Tokyo Gas, Japan.

SK Earthon said it would use the fund by the sell-off to invest in future growth to seek to craft a financial story rapidly.

By Hyun-jin Kim(kimhj30310@nspna.com) and Bok-hyun Lee(bhlee2016@nspna.com)

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