The $13 billion Commonwealth LNG export project in Louisiana has reached a major milestone after securing a final investment decision and nearly $10 billion in financing, paving the way for full-scale construction and a significant expansion of U.S. LNG export capacity.

Mubadala Energy announced that Caturus LLC approved the development and closed $9.75 billion in project financing for the facility, which will be built in Cameron Parish, Louisiana, News.Az reports, citing Reuters.

The export terminal is expected to produce 9.5 million tons of liquefied natural gas annually once operations begin in 2030. Company estimates suggest the project’s first phase could generate more than $3 billion in annual export revenue.

The development represents another major addition to growing U.S. LNG infrastructure as global demand for natural gas continues to rise, particularly across Europe and Asia.

Mubadala Energy holds a 24.1% stake in the Caturus platform, which includes the LNG facility and related upstream operations. The company is also participating directly in the financing of the project.

Long-term supply agreements for the facility have already been signed with major global energy and commodity companies, including Glencore, PETRONAS, and Aramco Trading Company.

Executives involved in the project said the investment decision reflects confidence in long-term global gas demand and the strategic role of LNG in international energy markets.

The facility will also be designed to accommodate large LNG carriers with capacities of up to 216,000 cubic meters, positioning it as a major export hub along the U.S. Gulf Coast.

News.Az 

By Aysel Mammadzada