#United States #EQT Corporation #Commonwealth LNG #Cameron, Louisiana #LNG Sales

Commonwealth LNG Signs Long-Term Agreement with EQT Corporation

Commonwealth LNG, a prominent developer of liquefied natural gas (LNG) export projects based in the United States, achieved a significant milestone by signing a Sale and Purchase Agreement (SPA) with EQT Corporation, one of the largest natural gas producers in the country. This 20-year agreement is set to transform the landscape of LNG supply and demand, especially given the increasing global demand for cleaner energy sources.

The SPA entails the sale of 1 million tonnes per annum (Mtpa) of LNG from Commonwealth's state-of-the-art export facility located on the Gulf Coast in Cameron Parish, Louisiana, which is currently under development. This facility is designed with a total capacity of 9.5 Mtpa. The terms of the agreement stipulate that EQT will procure LNG on a free-on-board basis with pricing tied to the Henry Hub, a benchmark for natural gas pricing in North America.

Ben Dell, Managing Partner of Kimmeridge and Chairman of Caturus, the parent company of Commonwealth LNG, noted that the agreement with EQT is a testament to their integrated natural gas platform. He stated, “This partnership combines EQT's significant operational scale with Commonwealth's innovative modular LNG design. Together, we are poised to meet the surging global appetite for LNG, affirming the United States’ leadership in energy production and distribution.”

The President and CEO of EQT, Toby Z. Rice, echoed this sentiment, commenting on the strategic importance of the deal for EQT. He mentioned how this agreement solidifies EQT's position as an integral player in connecting U.S. natural gas with international markets. The partnership not only signifies a long-term commitment to delivering LNG but also reinforces EQT’s momentum within the LNG sector.

Commonwealth LNG is currently moving towards a final investment decision (FID) in 2025, with LNG production expected to commence in 2029. Including this recent agreement with EQT, Commonwealth LNG has locked in agreements amounting to 5 Mtpa of significant off-take contracts with other major industry players including Glencore, JERA, and PETRONAS. The company's strategy emphasizes long-term partnerships that reflect international confidence in its operations and operational integrity.

Moreover, the completion of the SPA is contingent on the successful fulfillment of customary conditions, including an affirmative final investment decision on the project, which marks an important step toward its realization.

About Commonwealth LNG

Commonwealth LNG is committed to developing a world-class liquefied natural gas (LNG) export terminal project located in Cameron, Louisiana. The leadership of Commonwealth places a strong emphasis on safety, environmental responsibility, and innovative technology in constructing and operating its LNG terminal.

About Caturus

Caturus, formed through Kimmeridge, focuses on developing a leading integrated natural gas and LNG business in the U.S. It aims to deliver responsibly sourced and low-emission energy solutions to both domestic and international markets. The platform includes upstream production and a robust LNG export project, showcasing a commitment to environmental stewardship and operational excellence.

In conclusion, the collaboration between Commonwealth LNG and EQT Corporation not only represents a pivotal advancement in the LNG market but also demonstrates both companies' dedication to driving sustainable energy solutions on a global scale.