US natural gas producer Caturus expects to reach a final investment decision (FID) on its Commonwealth LNG export terminal in Louisiana in the coming weeks.
The company expects the facility to generate $3.5bn per annum following completion of Phase 1 of the $12.5bn development.
First LNG production is targeted for 2030, with site preparation already underway. Caturus has finalised long-term offtake agreements with EQT LNG Trading, Glencore, Mercuria, Petronas, and Aramco Trading to underpin project financing.
The Commonwealth LNG project was approved by the last year.
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