Commonwealth LNG reaches FID with $9.75 billion financing for Louisiana export facility

Caturus has made a positive final investment decision for its 9.5 Mtpa Commonwealth LNG project in Cameron Parish, Louisiana, closing $9.75 billion in project financing with total commitments of $21.25 billion. The facility, backed by offtake agreements including EQT, Glencore, PETRONAS, and Aramco Trading, is expected to generate over $3 billion in annual export revenue from 2030.

Caturus has announced a positive Final Investment Decision for its Commonwealth LNG project, including successful closing of $9.75 billion in project financing for construction of the 9.5 million tonnes per annum LNG export facility in Cameron Parish, Louisiana, according to an official announcement. The transaction garnered strong interest from equity and debt investors, resulting in total commitments of $21.25 billion. Phase 1 development is expected to generate more than $3 billion in annual export revenue when operations commence in 2030.

Caturus is an integrated natural gas company with upstream production and LNG export capabilities. Long-term offtake agreements have been secured with EQT, Glencore, Mercuria, PETRONAS, and Aramco Trading. Mubadala Energy holds a 24.1% stake in the Caturus platform and is an equity participant in the project's financing. Canada Pension Plan Investment Board will contribute $1.2 billion in financing to increase its total stake in the Caturus platform to 31%. Additional financial partners include EOC Partners, BlackRock funds, and an Ares Infrastructure Opportunities fund.

This development matters for the US LNG export sector, where Commonwealth is positioned as one of the most cost-competitive and efficient projects. The facility will include six Baker Hughes compressors powered by LM9000 gas turbines, six Honeywell main cryogenic heat exchangers, and four Titan 350 gas turbine-generators from Solar Turbines, capable of loading LNG carriers up to 216,000 cubic meters. Caturus has expanded its upstream holdings with the acquisition of Galvan Ranch natural gas assets from SM Energy, now producing more than 1 billion cubic feet equivalent per day, ranking among the top 10 private US natural gas pure-play producers.

For the energy industry, the project represents a fully integrated 'wellhead-to-water' operation. Stakeholders including local Louisiana communities, global energy markets, and offtake partners stand to benefit from reliable LNG supply with a lower-carbon footprint. Technip Energies is the EPC partner, leveraging a modular approach for safety and efficiency.