Houston-based Caturus LLC announced on May 15 that it has made a positive Final Investment Decision (FID) for its Commonwealth LNG project, which includes successful closing of $9.75 billion in project financing for construction of the 9.5 million tonnes per annum (Mtpa) liquefied natural gas (LNG) export facility in Cameron Parish, La. FID marks the start of full construction and advances one of the most cost-competitive and efficient LNG projects in the United States. The transaction garnered strong interest from both equity and debt investors, resulting in total commitments of $21.25 billion. “This landmark occasion, in parallel with continued growth of Caturus’ upstream platform, is the culmination of years of strategic planning, strong partnerships and commitment to delivering a fully integrated ‘wellhead-to-water’ project,” said Ben Dell, managing partner of Kimmeridge and chairman of Commonwealth LNG. Long-term offtake agreements have been secured with a diversified group of global energy and industrial counterparties, including EQT, Glencore, Mercuria, PETRONAS and Aramco Trading. Phase 1 development is expected to generate more than $3 billion in annual export revenue when operations commence in 2030. Mubadala Energy, which already holds a 24.1% stake in the Caturus platform that includes Commonwealth LNG and Caturus’ upstream operations, is also an equity participant in the project’s financing. Mansoor Mohamed Al Hamed, managing director and CEO, Mubadala Energy, said, “This FID announcement is a major milestone for Commonwealth LNG and is a critical step in realizing its strategy for a fully integrated ‘wellhead-to-water’ operation. For Mubadala Energy, we have been delighted to play an active role in helping achieve this vision while building further momentum to our international growth strategy. The investment adds to our existing global gas-weighted portfolio and expands our exposure across the full gas value chain—an important driver of our longstandi