CATURUS ANNOUNCES FINAL INVESTMENT DECISION FOR 9.5 MTPA COMMONWEALTH LNG EXPORT FACILITY IN CAMERON, LA
Caturus LLC has announced a positive Final Investment Decision (FID) for its Commonwealth LNG project, marking a significant step in its plan to establish itself as a leading independent integrated natural gas and LNG company. The decision comes after successfully closing $9.75 billion in project financing for the construction of a liquefied natural gas (LNG) export facility in Cameron Parish, Louisiana, capable of producing 9.5 million tonnes per annum (Mtpa).
The FID initiates full construction of what is anticipated to be one of the most cost-competitive LNG projects in the United States, with total commitments reaching $21.25 billion from equity and debt investors. The facility is expected to generate over $3 billion in annual export revenue upon commencing operations in 2030.
Key financial partners involved in the project include Mubadala Energy, which holds a 24.1% stake in the Caturus platform, and the Canada Pension Plan Investment Board (CPP Investments), which will invest $1.2 billion to increase its stake to 31%. Long-term agreements have been secured with global energy companies such as EQT, Glencore, Mercuria, PETRONAS, and Aramco Trading.
Caturus recently expanded its upstream holdings with the acquisition of the Galvan Ranch natural gas assets, now producing over 1 billion cubic feet equivalent per day. The Commonwealth LNG facility is expected to play a central role in the company's integrated natural gas strategy, aiming to meet the growing global demand for reliable energy while reducing carbon emissions.
Caturus CEO David Lawler commented on the rapidly accelerating global gas demand and the company's position to capitalize on this trend as it advances its integrated production and export capabilities. With a focus on delivering responsibly sourced fuel, Caturus aims to create significant local economic benefits while enhancing energy reliability in the U.S. and international markets.