In February this year, Commonwealth announced the signing of an LNG SPA with Mercuria Energy Trading to provide 1 million tonnes per annum (mtpa) of LNG for 20 years and a gas supply agreement with Mercuria Americas for the supply of a corresponding quantity of natural gas to Commonwealth.
However, Commonwealth submitted an amendment to this SPA to the US DOE on May 6.
The company said that there were four amendments to the agreement between March 17 and April 14.
These include the contracted annual quantity, modifications to certain pricing mechanisms, quantity scheduling and delivery obligations, contract extension rights, and other administrative modifications.
Under the new 20-year contract, Mercuria has the right to extend the term by up to three additional five-year periods.
Moreover, Mercuria agreed to buy approximately 1.5 million tonnes per annum, subject to the terms and conditions of the contract.
This means that the trader increased the annual capacity by approximately 0.5 mtpa.
Glencore, EQT
Besides Mercuria, Switzerland-based energy trader Glencore and US natural gas producer EQT recently also agreed to buy more LNG from Commonwealt.
Caturus, Kimmeridge’s LNG and gas unit in which UAE’s Mubadala has a 24.1 percent stake, said on April 7 that Commonwealth finalized customer offtake agreements, with the company set to launch the financing process with lenders as it advances the project toward a final investment decision (FID) anticipated in the coming weeks.
EQT LNG Trading, Glencore, Mercuria Energy Trading, Petronas LNG, and Aramco Trading Americas have each entered into long-term sale and purchase agreements with Commonwealth for offtake from the facility, Caturus said without providing further details.
This move came after Commonwealth revealed in a filing with the US Department of Energy that a 1 mtpa long-term sales and purchase deal between the company and Japan’s Jera had been terminated.
However, Commonwealth said in its semi-annual progress report filed with DOE on April 1 that it entered into an additional SPA agreement with Glencore on March 26 for up to 1 mtpa of LNG for a term of 20 years.
In May 2025, Glencore agreed to purchase 2 mtpa of LNG for 20 years from Commonwealth, as well as equivalent natural gas supply from Kimmeridge Texas Gas, now Caturus, under a netback agreement at international prices.
This means that Glencore will now buy up to 3 mtpa from Commonwealth.
In addition, Commonwealth said in the report that it has amended its existing SPA with EQT LNG Trading to increase the annual contract quantity to 2 mtpa per year of LNG.
In September last year, EQT agreed to purchase 1 mtpa of LNG for 20 years on a free on board basis at a price indexed to Henry Hub from Commonwealth’s facility.
These additional volumes from EQT replaced the volumes from the Jera SPA.
