Caturus has taken a final investment decision on its Commonwealth LNG export project in Louisiana after securing $9.75 billion in project financing for the 9.5 million tonnes per annum facility, with partners
Caturus has taken a final investment decision on its Commonwealth LNG export project in Louisiana after securing $9.75 billion in project financing for the 9.5 million tonnes per annum facility, with partners Mubadala Energy, Kimmeridge and CPP Investments.
The companies said the financing supports construction of the LNG export terminal in Cameron Parish, Louisiana, with total commitments for the project reaching $21.25 billion.
The Commonwealth LNG project is expected to begin operations in 2030 and forms part of Caturus’ integrated natural gas strategy spanning upstream production and LNG exports.
Long-term LNG offtake agreements have been signed with EQT, Glencore, Mercuria, PETRONAS and Aramco Trading, the companies said.
Mubadala Energy, which holds a 24.1% stake in the Caturus platform including Commonwealth LNG and upstream assets, is also participating in the project financing.
CPP Investments said it would contribute $1.2 billion in financing, increasing its total stake in the Caturus platform to 31%.
The companies said the facility would use equipment supplied by Technip Energies, Baker Hughes, Honeywell and Solar Turbines, and would be capable of loading LNG carriers of up to 216,000 cubic metres.
Caturus said it recently expanded its upstream business through the acquisition of Galvan Ranch natural gas assets
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