Juan Luis Hernández, José Manuel Abastos, Brendan Oviedo and Sandro Cogorno

H & Cía assists MidOcean in the purchase of shares in Peru LNG

Hernández & Cía has assisted MidOcean Energy, a subsidiary of EIG Global Energy Partners, in closing a deal with SK Earthon to purchase a 20% stake in Peru LNG for USD $256 million.

Closing of the transaction is still pending. The advisory was led internationally by Latham & Watkins, also as advisor to MidOcean; while Ashurst acted as international advisor to SK Earhon.

EIG Global Energy Partners is widely recognised as a leading institutional investor in the global energy industry, and through MidOcean Energy, expands its well-recognised energy portfolio. Notably, MidOcean Energy is in the process of closing the acquisition of its four LNG projects in Australia with Tokyo Gas, showing strong interest in the development and enhancement of this sector.

Peru LNG owns the first LNG export plant in South America, located in Pampa Melchorita, Ica, Peru, a highly strategic and relevant asset in the energy industry and specifically in the natural gas industry, progressively more relevant in the Peruvian market. Hunt Oil Company is the operator of this business and leads the consortium of investors in this project, which is one of only two LNG plants in South America.

H & Cía.’s team comprised partners Juan Luis Hernández (pictured left), José Manuel Abastos (pictured centre, left), Brendan Oviedo Doyle (pictured centre, right), Sandro Cogorno (pictured right), and Rodrigo Flores, senior associates Gloria Zubizarreta and Katherine Yesquen, and associates Flavio Castañeda, Sebastián Li and Carlos Vidal.

Latham & Watkins’ team was led by partner Charles E. Carpenter, with support from counsel Brian Hintze, and associates Melanie Von Staa, Greg S. Sorensen, Mark Goshgarian and Caroline Silverstein.

Ashurst’s team was represented by partner Huiyeon Kim and associate SW Koo.

L Giselle Estrada