Caturus LLC reached a positive Final Investment Decision (FID) for its Commonwealth LNG export facility in Cameron Parish, Louisiana. The company secured $9.75 billion in project financing. Total project costs are estimated at $13 billion.
The facility will produce 9.5 million tonnes per annum (Mtpa) of liquefied natural gas. Operations are scheduled to begin by 2030. The project aims to be one of the most cost-competitive LNG developments in the United States.
Caturus secured long-term offtake agreements with EQT, Glencore, Mercuria, PETRONAS, and Aramco Trading. Equity investors include Kimmeridge, Mubadala Energy, and CPP Investments. Technip Energies will handle engineering, procurement, and construction. Baker Hughes and Honeywell will supply the major equipment.
The facility is expected to generate over $3 billion in annual export revenue. This project will create a substantial new demand center for U.S. natural gas producers.