In February, Commonwealth said it was targeting FID on its planned 9.5 million tonnes per annum LNG facility in Cameron Parish in September of this year after it received a conditional non-FTA approval from the US DOE.
The LNG terminal developer also received its draft supplemental environmental impact statement (SEIS) from FERC.
FERC still needs to issue the final SEIS, which is expected in May, and the final order, which is expected in July.
However, Commonwealth sent a letter to FERC seeking a “modest” acceleration of the issuance of the final order, no later than FERC’s June 26 open meeting.
“As the Commission is aware, the Commonwealth LNG export project is a high-priority project for President Donald Trump and his Administration having been the first LNG project to secure export authorization from President Trump and Secretary of Energy Chris Wright on February 14, 2025,” the company said.
“With only two narrow issues remanded to the Commission by the U.S. Court of Appeals for the D.C. Circuit, both of which have been completely and effectively addressed by the Commissioners and Commission staff already, FERC is now in a position to act quickly, and Commonwealth requests the Commission do so no later than its June 2025 open meeting,” it said.
Efforts to reach FID
Commonwealth said accelerated issuance of the final order from July to June is “fully aligned with the Trump Administration’s energy dominance agenda.”
It would also be “very beneficial” to Commonwealth’s efforts to reach FID and start construction “as soon as possible.”
“Despite Commonwealth’s efforts to advance the project, development delays from both court action as well as the Biden Administration’s now ended pause on processing non-FTA export applications have already cost Commonwealth millions of dollars, and put thousands of jobs in Louisiana at risk,” the company said.
“Delaying issuance of the final order on remand until the end of July, which FERC can act sooner, would further these harms,” Commonwealth said.
Mubadala deal
UAE’s Mubadala will take a stake in Kimmeridge’s Commonwealth under a recently revealed deal.
Mubadala signed an agreement with Kimmeridge to acquire a 24.1 percent interest in the latter’s SoTex HoldCo via the issuance of new equity.
SoTex holds two portfolio companies: Kimmeridge Texas Gas, which operates an upstream unconventional gas business in the Eagle Ford in South Texas, and Commonwealth LNG.
In June 2024, Kimmeridge, via its affiliate KTG took a 90 percent stake in Commonwealth.
Before that, Commonwealth closed an investment of development capital from funds managed by Kimmeridge.
The two firms also agreed in principle on terms for a 20-year, 2 mtpa LNG offtake commitment from the facility along with the associated gas supply.
As per other deals, Switzerland-based energy trader Glencore entered into a long-term agreement with Commonwealth LNG in September last year.
Moreover, Commonwealth entered into a non-binding 20-year supply deal with Switzerland-based energy trader MET Group for 1 mtpa of LNG, and it also finalized a supply deal in 2022 with Australian LNG firm Woodside.
The deal is for the supply of up to 2.5 mtpa of LNG over 20 years to Woodside Energy Trading Singapore from Commonwealth’s LNG export facility.
Commonwealth is planning to build the six-train liquefaction and export facility on the west bank of the Calcasieu Ship Channel at the mouth of the Gulf of Mexico near Cameron.
The facility includes six 50,000-cbm LNG storage tanks, one jetty with the capacity to service vessels from 10,000 cbm to 216,000 cbm, and a pipeline.
