Commonwealth LNG Signs 20-Year Sale and Purchase Agreement with Major Asian Buyer

HOUSTON, May 5, 2025 /PRNewswire/ -- Commonwealth LNG ("Commonwealth") announced today that it has signed a Sale and Purchase Agreement with a major Asian energy company ("Buyer"). Under the agreement, Buyer will purchase 1 million tonnes per annum (mtpa) of LNG for 20 years from Commonwealth's 9.5 mtpa facility currently under development in Cameron, Louisiana (the "Project").¹

"This offtake agreement marks another important milestone for Commonwealth as we work toward a final investment later this year and first offtake planned for 2029," said Ben Dell, Managing Partner of Kimmeridge and Chairman of Commonwealth. "We look forward to working with this Buyer, a longstanding leader in LNG, as we further our integrated wellhead-to-water strategy in delivering LNG to critical markets around the world."

Commonwealth's phase 1 development is expected to bring an investment of more than $11 billion to Louisiana and generate an estimated $3.5 billion in annual export revenue. The project is expected to employ approximately 2,000 workers at the peak of construction and provide approximately 275 high-paying jobs when the facility begins operations in late 2029.

This Buyer is one of the world's leading energy corporations, operating comprehensively across the oil and gas value chain from upstream to downstream. In the liquefied natural gas (LNG) sector, this Buyer is currently one of the largest global suppliers of LNG.

"We look forward to building and strengthening our partnership with this Buyer in mutually beneficial ways as we progress on our journey," said Commonwealth President and CEO Farhad Ahrabi. "We're committed to building and creating a safe, reliable, efficient, and well-governed LNG operating company."

Commonwealth is owned by Kimmeridge SoTex Holdco LLC ("SoTex"), which was founded by Kimmeridge, an asset manager focused on the energy sector. Through SoTex, which also holds an upstream natural gas development company called Kimmeridge Texas Gas, Kimmeridge is building America's first integrated gas independent to deliver low-cost natural gas from wellhead-to-water and meet burgeoning demand for responsibly-produced LNG across global markets.

The SPA will become fully effective upon the satisfaction of customary conditions, including an affirmative final investment decision on the Project.

About Commonwealth LNG
Commonwealth LNG is a 9.5 mtpa liquefied natural gas (LNG) export terminal project located on the Calcasieu River on the Gulf Coast near Cameron, Louisiana. The project's leadership team is committed to building a world-class LNG facility by staying relentlessly focused on managing risk and lowering cost.
Website: www.CommonwealthLNG.com
LinkedIn: www.linkedin.com/company/commonwealth-lng/

About Kimmeridge
Founded in 2012 by Ben Dell, Dr. Neil McMahon and Henry Makansi, Kimmeridge is an alternative asset manager focused on the energy sector. The firm is differentiated by its direct investment approach, deep technical knowledge, active portfolio management, proprietary research and data gathering.

Media Inquiries:

Commonwealth LNG
Lyle Hanna
VP, Corporate Communications
281-794-9606
lhanna@teamcpl.com

¹ On April 28, 2025, Commonwealth terminated the two LNG sale and purchase agreements with Woodside Energy Trading Singapore Pte Ltd executed on 2 September 2022 pursuant to their terms.

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SOURCE Commonwealth LNG