Commonwealth LNG is a Houston-based LNG project development and operating company, founded by industry veterans with the goal of re-engineering the LNG construction model to deliver reliable and affordable clean energy globally.
Activities
Commonwealth LNG's core activity is the development, construction, and future operation of a 9.5 mtpa LNG liquefaction and export terminal on the west bank of the Calcasieu Ship Channel, near Cameron, Louisiana. Specific activities include:
- LNG project development — permitting, commercial structuring, financing, and EPC management
- LNG liquefaction — processing pipeline-quality natural gas into liquefied form for export
- LNG export — loading LNG onto carriers up to 216,000 m³ capacity for international delivery
- Gas supply management — via a 3-mile pipeline interconnected to two major pipeline systems
- Long-term offtake contracting — with international buyers (EQT, Glencore, Mercuria, Petronas, Aramco Trading)
Regulatory Authorizations
Commonwealth LNG holds all key U.S. federal authorizations:
- FERC construction/operation approval
- DOE FTA export authorization — granted April 2020
- DOE Non-FTA export authorization — granted August 2025
- Total authorized export capacity: 9.5 mtpa (~1.21 Bcf/d)
Strategic Context
Commonwealth LNG is the LNG operating arm of Caturus, the integrated gas-to-LNG platform formed by Kimmeridge and Mubadala Energy. Together with Caturus's upstream gas production assets, Commonwealth LNG is designed to be part of America's first integrated gas independent — delivering natural gas from wellhead to waterfront. FID was taken on May 14, 2026, with $9.75 billion in project financing secured and EPC contractor Technip Energies already mobilized on site. First LNG production is targeted for 2029–2030.
History of Commonwealth LNG (2014–2026)
Foundation and Early Concept (2014–2017)
Commonwealth LNG was first proposed in 2014 under its original name Waller LNG Services, conceived as a mid-scale LNG export terminal in Cameron Parish, Louisiana, with an initial planned capacity of approximately 9.3 mtpa. It was founded by LNG industry veterans who sought to re-engineer the traditional LNG construction model, applying proven best practices to reduce cost and delivery risk compared to conventional mega-scale projects. The chosen site — on the west bank of the Calcasieu Ship Channel, near the mouth of the Gulf of Mexico — offered direct deep-water access and proximity to major U.S. gas transmission infrastructure. In October 2017, the company held a public open house in Johnson Bayou, Louisiana, marking the formal start of community engagement ahead of federal permitting.
FERC Pre-Filing and Permitting (2018–2022)
A FERC public scoping session was held in March 2018, and the formal FERC application to site, construct, and operate the liquefaction and export facility was filed in August 2019 under Docket No. CP19-502-000. That original application proposed six LNG storage tanks of 40,000 m³ each. In July 2021, Commonwealth filed an amendment to the application, upgrading the storage tank design to traditional full-containment modular-built tanks of 50,000 m³ each (total working storage volume of 300,000 m³), and adjusting the design to eliminate the need for a special PHMSA authorization. The DOE FTA export authorization was granted in April 2020, and FERC formally approved the Commonwealth LNG Project in November 2022.
Commercial Build-Out and Ownership Changes (2022–2025)
With regulatory approvals secured, Commonwealth LNG pivoted to commercial offtake contracting and financing. In May 2025, the company signed a landmark 20-year SPA with EQT Corporation for 2 mtpa, followed by agreements with Petronas, Glencore, Mercuria, and Aramco Trading through early 2026. A pivotal ownership change occurred in September 2025, when Mubadala Energy (Abu Dhabi) acquired a 24.1% interest in Kimmeridge SoTex HoldCo LLC, the parent entity, with Kimmeridge retaining 75.9%. This transaction triggered a corporate reorganization, with the holding structure consolidated under the newly branded Caturus platform — encompassing both Commonwealth LNG and Kimmeridge's upstream gas assets. The DOE Non-FTA export authorization was granted in August 2025, completing the full regulatory authorization stack. That same year, FERC granted a construction deadline extension to December 31, 2031, providing schedule flexibility.
EPC Contracting, Pre-Construction and FID (Late 2025–2026)
In December 2025, Caturus authorized full purchase orders through Technip Energies as EPC contractor, and CPP Investments (Canada Pension Plan) joined as an equity co-investor alongside Mubadala Energy and Kimmeridge. Pre-construction and initial site preparation activities commenced in December 2025, including geotechnical surveys, civil surveys, and site benchmarking. EPC contractor site mobilization began in early March 2026. Full commerciality — with approximately 8 of 9.5 mtpa under binding long-term SPAs — was announced in April 2026. The Final Investment Decision (FID) was formally taken on May 14, 2026, backed by $9.75 billion in project financing, marking the definitive launch of construction. First LNG exports are now targeted for 2029.
