Caturus Signs 20-Year LNG Supply Deal with Saudi Aramco
Aramco Trading has signed a 20-year agreement to purchase 1 MMtpy of LNG from the Commonwealth LNG export project in Louisiana, adding commercial momentum as the Gulf Coast facility advances toward FID.
(P&GJ) — Caturus announced the signing of a 20-year liquefied natural gas (LNG) sale and purchase agreement between Commonwealth LNG and Aramco Trading Americas LLC, a subsidiary of Saudi Aramco.
Under the agreement, Aramco Trading will purchase 1 million tonnes per annum (MMtpy) of LNG from the Commonwealth LNG export facility under development in Cameron Parish, Louisiana, along the U.S. Gulf Coast.
The long-term contract adds another international buyer to the Commonwealth LNG project as it advances toward a final investment decision (FID). The agreement becomes fully effective upon satisfaction of customary conditions, including a positive FID on the project.
"We're pleased to welcome Aramco Trading among an expanding group of prominent international customers who have entered into offtake contracts from the Commonwealth LNG facility," said Caturus CEO David Lawler. "This agreement highlights the strong international demand for U.S. LNG and underscores how our longstanding relationships and capabilities position Caturus to serve global markets."
"Our contract with Aramco Trading underscores the differentiated value Caturus can bring through our global reach in offering wellhead to water services," Lawler added.
"This agreement reflects Aramco Trading's efforts to secure a reliable, long-term energy supply for global markets while strengthening our presence in the LNG sector," said Mohammed K. Al Mulhim, Aramco Trading President & CEO. "Our contract with Commonwealth LNG allows us to diversify supply sources, strengthen energy security, and deliver value across the entire energy chain."
Commonwealth LNG’s Phase 1 development is projected to generate approximately $3.5 billion in annual export revenue. Construction is expected to employ roughly 2,000 workers at peak activity, with about 300 permanent positions once operations begin in 2030.
Technip Energies is providing engineering, procurement and construction (EPC) services for the modular LNG facility.
Aramco Trading joins Glencore, JERA, PETRONAS, Mercuria and EQT as long-term offtake counterparties for the project, further building commercial support ahead of FID.