This story requires a subscription
This includes a single user license.
Caturus, Kimmeridge’s LNG and gas unit in which UAE’s Mubadala has a 24.1 percent stake, said on Monday that it had authorized full purchase orders to key industry partners supporting development of its Commonwealth LNG export facility.
Moreover, the purchase orders are being executed via Commonwealth’s engineering, procurement, and construction (EPC) partner Technip Energies.
“This new milestone maintains the schedule and cost basis of this development and represents an essential step toward Commonwealth’s final investment decision (FID) on the project planned for the first quarter of 2026,” Caturus said.
The purchase orders address long lead time equipment needed to facilitate the accelerated construction features of Commonwealth’s modular approach.
According to Caturus, they include orders with industry stalwarts Baker Hughes for six mixed-refrigerant compressors driven by LM9000 gas turbines; Honeywell, to supply six main cryogenic heat exchangers; and Solar Turbines, providing four Titan 350 gas turbine-generators.
Technip Energies said in a separate statement that the “large” authorization from Commonwealth is worth between 250 million euros ($294.3 million) and 500 million euros ($588.7 million) of revenue.
It is worth mentioning here that Commonwealth authorized an order for six Baker Hughes refrigerant turbo compressors required for the liquefaction process in August this year.
Caturus said Commonwealth’s Phase 1 development will generate an estimated $3.5 billion in annual export revenue.
The project is expected to employ approximately 2,000 workers at the peak of construction, providing approximately 300 full-time jobs when the facility begins operations in 2030.
“This significant capital investment in the Commonwealth LNG platform is a key milestone, along with the financing process, which is well underway, and illustrates our level of commitment to developing this global-scale LNG project,” said Caturus CEO David Lawler.
Commonwealth LNG deals
In October, Commonwealth secured an extension of time from the US FERC to complete construction and put into service its LNG export project near Cameron.
Commonwealth now has time until and including December 31, 2031, to complete construction of its project and make it available for service.
The US LNG developer previously said that it plans to take FID on the facility by the end of this year.
However, a Louisiana state court vacated the Commonwealth’s coastal use permit in October this year; it has since been reissued.
As per the offftake side, the company has entered into long-term sale and purchase agreements with Petronas for 1 mtpa of LNG, Glencore for 2 mtpa of LNG, Jera for 1 mtpa of LNG, and EQT for 1 mtpa of LNG.
Last month, Saudi Arabia’s energy behemoth Aramco also signed a preliminary deal with Commonwealth LNG, as part of 17 agreements with a potential value of more than $30 billion with companies in the US.