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24 min ago 2 min read
Integrated gas and liquefied natural gas (LNG) firm Caturus has announced 20 leading banks will provide financing for the Commonwealth LNG project after it reached final investment decision (FID) in May.
The institutions will provide debt and term loans as well as additional capital to support reserves and working capital requirements.
The lending group included UAE banks – Abu Dhabi Commercial Bank and First Abu Dhabi Bank – as well as a range of US, Canadian and South American firms.
Houston-based Caturus closed $9.75bn in project financing for the construction of the 9.5 million tonnes per annum (mtpa) LNG export facility in Cameron Parish, Louisiana last month.
The company expects the facility following completion of Phase 1 of the $12.5bn development with first LNG production targeted from 2030. A 1 mtpa sales and purchase agreement was signed with Aramco Trading in February.
The Middle East crisis continues to spur the US LNG sector which is seeing high project visibility, increased liquefaction fees and unprecedented investment activity. Financing currently stands at $72bn for six FID-approved projects this year.
Mitsubishi UFJ Financial Group is providing $3.6bn financing for Delfin FLNG 1, after LNG export project developer Delfin Midstream announced











