Caturus Takes FID on Commonwealth LNG Project in Louisiana
May 15, 2026
Caturus has taken a final investment decision on its Commonwealth LNG export project in Louisiana after securing $9.75 billion in project financing for the 9.5 million tonnes per annum facility, with partners Mubadala Energy, Kimmeridge and CPP Investments.
The companies said the financing supports construction of the LNG export terminal in Cameron Parish, Louisiana, with total commitments for the project reaching $21.25 billion.
The Commonwealth LNG project is expected to begin operations in 2030 and forms part of Caturus’ integrated natural gas strategy spanning upstream production and LNG exports.
Long-term LNG offtake agreements have been signed with EQT, Glencore, Mercuria, PETRONAS and Aramco Trading, the companies said.
Mubadala Energy, which holds a 24.1% stake in the Caturus platform including Commonwealth LNG and upstream assets, is also participating in the project financing.
CPP Investments said it would contribute $1.2 billion in financing, increasing its total stake in the Caturus platform to 31%.
The companies said the facility would use equipment supplied by Technip Energies, Baker Hughes, Honeywell and Solar Turbines, and would be capable of loading LNG carriers of up to 216,000 cubic metres.
Caturus said it recently expanded its upstream business through the acquisition of Galvan Ranch natural gas assets from SM Energy and now produces more than 1 billion cubic feet equivalent per day on a net basis.
“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.
“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,” added Mansoor Mohamed Al Hamed, Managing Director and Chief Executive Officer, Mubadala Energy.
