Commonwealth LNG has finalized multiple customer offtake agreements as it approaches a Final Investment Decision (FID) for its US liquefied natural gas project. The operator, Caturus, announced contracts with EQT, Glencore, Mercuria, Petronas, and Saudi Aramco's Americas trading subsidiary.

Contract Changes and Project Status

However, a previously announced deal with Japanese utility JERA has collapsed, according to a filing with the US Department of Energy. Additionally, a prior contract with Woodside Energy was cancelled in 2025 following Woodside's acquisition of Tellurian and the Louisiana LNG project. With commercialisation complete, the project is now launching its financing process, with an FID for the first phase anticipated within weeks.

Project Scale and Construction

The first phase is projected to cost $12.5 billion and is expected to generate $3.5 billion in annual export revenue starting in 2030. Caturus has authorized purchase orders through its engineering, procurement and construction contractor, Technip Energies, with vendors including Baker Hughes, Honeywell, and Solar Turbines. Technip Energies stated it received a substantial authorization for the work, valued between €500 million and €1 billion in revenue.

Site Development and Ownership

Limited notices to proceed have been issued to contractors, and subcontracts have been awarded for site preparation, surge wall development, and marine and material offloading facilities. Abu Dhabi's Mubadala Energy holds a 24.1% stake in Caturus.