Caturus LLC announced a positive Final Investment Decision (FID) for the Commonwealth LNG project on May 15, 2026. The company closed $9.75 billion in project financing to construct a 9.5 million tonnes per annum liquefied natural gas export terminal in Cameron Parish, Louisiana. Total commitments from equity and debt investors reached $21.25 billion for the transaction.
What it means
The FID authorizes Caturus to proceed with construction of the export facility, which is expected to commence operations by 2030. The company secured long-term offtake agreements with EQT, Glencore, Mercuria, PETRONAS, and Aramco Trading.
Caturus authorized Technip Energies, the project’s EPC partner, to order major long-lead equipment for the facility. The terminal design includes six Baker Hughes mixed-refrigerant compressors powered by LM9000 gas turbines, six Honeywell main cryogenic heat exchangers, and four Titan 350 gas turbine-generators from Solar Turbines. The infrastructure is capable of loading LNG carriers up to 216,000 cubic meters.
Mubadala Energy holds a 24.1% stake in the Caturus platform and participated as an equity investor in the project financing. Canada Pension Plan Investment Board (CPP Investments) contributed $1.2 billion to the financing, increasing its total stake in the Caturus platform to 31%, including previous investments. Other financial partners include EOC Partners, funds managed by BlackRock, and an Ares Infrastructure Opportunities fund.
Caturus operates upstream assets across approximately 280,000 net acres in Texas and produces more than 1 billion cubic feet equivalent per day on a net basis. The company recently acquired Galvan Ranch natural gas assets from SM Energy. The Commonwealth LNG project marks the $100 billionth dollar of invested capital in Louisiana during Governor Jeff Landry’s tenure.
Key facts
- 9.5 million tonnes per annum (Mtpa) LNG export capacity
- $9.75 billion in project financing closed for construction
- $21.25 billion in total equity and debt commitments
- Operations expected to commence by 2030
- Located in Cameron Parish, Louisiana
- Technip Energies is the EPC partner
- Mubadala Energy holds a 24.1% stake in Caturus; CPP Investments holds a 31% total stake
Source: Caturus LLC news release (PR Newswire)