The $13bn Commonwealth LNG facility reaches FID, backed by $21.25bn in total commitments, targeting $3bn annual export revenue.
Caturus finalized a $13bn investment decision for its Commonwealth LNG project in Louisiana, securing $9.75bn in project financing. The 9.5 million tonnes per annum export facility aims to begin operations in 2030, with phase one expected to generate over $3bn in annual export revenue.
Total commitments for the project, including debt and equity, reach $21.25bn. Mubadala Energy holds a 24.1% stake, while the Canada Pension Plan Investment Board increased its stake to 31% with a $1.2bn commitment. Long-term offtake agreements are in place with EQT, Glencore, Mercuria, Petronas, and Aramco Trading.
Construction will commence immediately, with the project positioned as a fully integrated ‘wellhead-to-water’ initiative. The FID marks a milestone after years of strategic planning and partnerships.