[Alpha Biz=(Chicago) Reporter Kim Jisun] SK Earthon will sell its stake in Peru LNG Company (LLC) in Peru to secure funds for future growth projects.

SK Earthon signed a contract to sell its 20% stake in Peru's LNG to Mid-Ocean Energy (MidOcean Energy) for $256.5 million (about 340 billion won) on July 7.

Peru's LNG is a company with liquefied natural gas production plants that began production in 2010. Global energy companies Hunt Oil, Shell and Marubeni own a 20% stake, while SK Earthon owns a 20% stake.

Mid-Ocean Energy is a subsidiary established in 2022 by EIG, a private equity fund (Private Equity Fund) specializing in energy investment, to expand its liquefied natural gas (LNG) business. Recently, Japan's Tokyo Gas has been actively carrying out LNG projects, including the acquisition of stakes in Australian LNG assets.

SK Earth-On plans to accelerate the financial story by investing the resources secured by the sale in SK Earth-On's future growth business.

 

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