Overview
- Caturus, which on Friday closed $9.75 billion in project financing, approved full construction of the Commonwealth LNG export terminal in Cameron Parish, Louisiana.
- Mubadala Energy, Kimmeridge and CPP Investments led the funding, with CPP committing $1.2 billion to lift its Caturus stake to 31% and Mubadala holding 24.1%.
- The plant is designed to produce 9.5 million tonnes of liquefied natural gas per year, with first operations targeted for 2030.
- Long-term sales deals are in place with EQT, Glencore, Mercuria, Petronas and Aramco Trading.
- The $13 billion project drew $21.25 billion in equity and debt commitments, reflecting buyers’ push to secure U.S. supply as global gas markets stay tight after disruptions in the Middle East.