Caturus Reaches FID on $9.75 Billion Commonwealth LNG Project
Caturus reached final investment decision on the 9.5 MMtpy Commonwealth LNG export project in Louisiana after securing $9.75 billion in financing for the $13 billion development.
(P&GJ) — Caturus has reached final investment decision (FID) on its Commonwealth LNG export project in Cameron Parish, Louisiana, after securing $9.75 billion in project financing for the 9.5 MMtpy terminal development.
The company said the total project carries an estimated value of approximately $13 billion and is expected to begin operations in 2030. Caturus added that the financing package drew strong interest from equity and debt investors, resulting in total commitments of roughly $21.25 billion.
The FID clears the way for full construction of the export facility, which Caturus described as a core part of its integrated “wellhead-to-water” natural gas strategy.
Long-term LNG supply agreements have already been signed with customers including EQT, Glencore, Mercuria, PETRONAS and Aramco Trading. The company said the project’s first phase is expected to generate more than $3 billion in annual export revenue once operational.
Mubadala Energy, which already owns a 24.1% stake in the broader Caturus platform, participated in the project financing alongside Canada Pension Plan Investment Board (CPP Investments), which is contributing $1.2 billion and increasing its ownership stake in the company to 31%.
The facility will be built with support from engineering contractor Technip Energies and will use a modular construction approach. Planned equipment includes Baker Hughes mixed-refrigerant compressors powered by LM9000 gas turbines, Honeywell cryogenic heat exchangers and Solar Turbines Titan 350 gas turbine generators.
The terminal will be capable of loading LNG carriers up to 216,000 cubic meters.
Caturus CEO David Lawler said global natural gas demand continues to grow, positioning the company to expand across both upstream production and LNG exports.
In recent weeks, the company also expanded its upstream position through the acquisition of SM Energy’s Galvan Ranch natural gas assets. Caturus said it now produces more than 1 billion cubic feet equivalent per day on a net basis, ranking it among the largest private U.S. natural gas-focused producers.