Commonwealth LNG has secured the funding to achieve a final investment decision (FID) on its 9.3 million tonnes per annum (mtpa) LNG export facility in Cameron, Louisiana.
The LNG specialist on Monday (14th August) closed the investment from private funds managed by Kimmeridge Energy Management Company, an energy-focused asset management firm.
Kimmeridge has also signed a 20-year LNG purchase deal with Commonwealth LNG for two million tonnes per annum of product. The agreement includes key terms for Kimmeridge’s participation to provide further equity in Commonwealth LNG to support construction of the facility.
Farhad Ahrabi, President and CEO of Commonwealth LNG, said the recent LNG marketing progress, the completion of FEED, and the conclusion of the EPC contract with Technip Energies will allow the company to start delivering LNG in early 2027.
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