Caturus and Aramco Trading sign 20-year LNG offtake agreement
Caturus, an independent integrated natural gas and LNG company, has announced the signing of a sale and purchase agreement (SPA) between Commonwealth LNG and Aramco Trading, a subsidiary of Saudi Aramco. Under the SPA, Aramco Trading will purchase 1 million tpy of LNG from the Commonwealth LNG export facility currently under development on the Gulf Coast in Cameron Parish, Louisiana.
“We’re pleased to welcome Aramco Trading among an expanding group of prominent international customers who have entered into offtake contracts from the Commonwealth LNG facility,” said Caturus CEO, David Lawler. “This agreement highlights the strong international demand for US LNG and underscores how our longstanding relationships and capabilities position Caturus to serve global markets.”
“Our contract with Aramco Trading underscores the differentiated value Caturus can bring through our global reach in offering wellhead to water services,” Lawler added.
“This agreement reflects Aramco Trading’s efforts to secure a reliable, long-term energy supply for global markets while strengthening our presence in the LNG sector,” commented Mohammed K. Al Mulhim, Aramco Trading President & CEO. “Our contract with Commonwealth LNG allows us to diversify supply sources, strengthen energy security, and deliver value across the entire energy chain.”
The SPA will become fully effective upon the satisfaction of customary conditions, including an affirmative final investment decision on the Commonwealth LNG project.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/16022026/caturus-and-aramco-trading-sign-20-year-lng-offtake-agreement/
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