SK EarthOn Sells Entire Stake in Peru LNG Field for 340 Billion KRW

SK Earthon will secure investment funds for future growth businesses by selling its stake in Peru LNG Company·LLC.

On the 7th, SK Earthon signed a share transfer agreement to sell a 20% stake in Peru LNG to MidOcean Energy for $256.5 million (approximately 340 billion KRW).

Peru LNG is a company that owns a liquefied natural gas production plant and began production in 2010. Global energy companies Hunt Oil, Shell, and Marubeni hold stakes, and SK Earthon owns a 20% stake.

MidOcean Energy is a subsidiary established in 2022 by the U.S. energy investment private equity fund EIG to expand its LNG business. It has been actively engaged in LNG projects recently, including acquiring shares of Tokyo Gas's Australian LNG assets.

SK Earthon plans to invest the funds secured from this sale into future growth businesses it is promoting, further accelerating the implementation of its financial story.

Myungseong, President of SK Earthon, said, "The two pillars of SK Earthon's financial story, oil development and future growth businesses, are creating synergy and producing results," adding, "The successful sale of Peru LNG will give a significant boost to our future growth businesses."

This content was produced with the assistance of AI translation services.