Commonwealth LNG will supply European energy company MET Group with one million tonnes per annum of liquefied natural gas (LNG) per annum from its export facility currently under development in Cameron, Louisiana.
The duo today (4th Sept) announced the signing of a Heads of Agreement (HOA), which solidifies the LNG supply for a 20-year period. The contract is set to commence in 2027, in line with the commercial operation of the site.
Paul Varello, founder and Executive Chairman of Commonwealth LNG, said the agreement recognises that US LNG can and will play a continuing role in Europe’s energy transition by providing reliable and affordable natural gas to the region.
News of the deal comes as MET Group has said it is increasing its participation in the LNG market. In 2022 alone, the company imported more than 30TWh of LNG cargoes to countries including Croatia, Greece, Spain, and the UK.
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