Commonwealth LNG secures 20-year deal with Asian energy company
Commonwealth LNG, a 9.5 million tonnes a year liquefied natural gas export terminal in Louisiana, has signed a 20-year deal to supply a “major” Asian energy company.
The contract will see Commonwealth supply one million tonnes of LNG per year.
Phase one of Commonwealth LNG is expected to bring an investment of more than $11bn to Louisiana and generate an estimated $3.5bn in annual export revenue.
Investment firm Kimmeridge Energy Management Company holds a 90% stake in the project. It acquired its stake in June as part of its plan to combine its upstream natural gas production in South Texas with midstream liquefaction and export capabilities.
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