Louisiana LNG Export Project Reaches Final Investment Decision

Owners of Commonwealth LNG reached final investment decision on May 15 for a new export facility in Cameron Parish, Louisiana. The project will cost $12.5 billion and is designed to ship 9.5 million tons of LNG per year. Houston-based Caturus, backed by private equity firm Kimmeridge, and Abu Dhabi-based Mubadala Energy are developing the terminal.

Energy Secretary Chris Wright and Louisiana Governor Jeff Landry attended an announcement ceremony at the site.

Project Details and Capacity U.S.

Energy Secretary Chris Wright said the United States is exporting about 20 billion cubic feet of natural gas per day. He stated that this volume is roughly double the exports of the second and third largest exporters. Mubadala Chief Operating Officer Adnan Bu Fateem said recent supply disruptions have increased global focus on energy security.

He noted that Mubadala closed its investment in Caturus in August of last year, before those disruptions occurred.

At least eight additional projects are scheduled for completion by 2030. If completed, these projects would more than double U.S. LNG export capacity by the end of the decade, according to the U.S. Energy Information Administration. Adnan Bu Fateem said the long-term outlook for LNG remains strong due to demand from power generation, industrial development, and data centers.