Commonwealth LNG in the News
June 12th, 2019
Commonwealth LNG and Gunvor Singapore Pte Ltd Sign Heads of Agreement
Commonwealth Projects, LLC and Gunvor Group Ltd today announced their respective subsidiaries, Commonwealth LNG, LLC and Gunvor Singapore Pte Ltd, have signed a heads of agreement (HOA).
The HOA anticipates the negotiation and finalization of a definitive 15-year liquefied natural gas (LNG) sale-and-purchase agreement (SPA) for 1.5 million tonnes per annum (Mtpa) of LNG offtake from the Commonwealth LNG export project under development in Cameron Parish, Louisiana.
March 5th 2019
Robert Powers nominated 2019 Vice Chair, LEEA
At the February 5, 2019, LEEA Executive Board meeting, the 2019 officers were nominated and determined.
2019 Chair – Maury Hudson, Magnolia LNG
2019 Treasurer – Ernie Broussard, Hunt Guillot & Associates
2019 Vice Chair – Robert Powers, Commonwealth LNG
Louisiana Energy Export Association (LEEA) brings together leaders in the Louisiana LNG Industry to consider matters relating to industry business, to foster education and understanding of shared challenges, and to promote policies beneficial to the industry before federal, state and local government agencies.
May 2nd, 2019
Commonwealth LNG export terminal still on track for 2024
The approximately $4 billion Commonwealth LNG export terminal is expected to reach final investment decision and get final federal approval by the first quarter of 2021 and start operations by early 2024, officials said on Wednesday.
Scott Ray, Commonwealth LNG vice president, told Gulf Coast Industrial Group members that each of the facility’s six liquefaction trains will be capable of producing 1.4 million tons of LNG per year, or a total of 8.4 million tons annually. The project site is located on 400 acres in Cameron Parish at the west bank of the Calcasieu Ship Channel at the Gulf of Mexico.
March 5th 2019
Robert Powers nominated 2019 Vice Chair, LEEA
At the February 5, 2019, LEEA Executive Board meeting, the 2019 officers were nominated and determined.
2019 Chair – Maury Hudson, Magnolia LNG
2019 Treasurer – Ernie Broussard, Hunt Guillot & Associates
2019 Vice Chair – Robert Powers, Commonwealth LNG
Louisiana Energy Export Association (LEEA) brings together leaders in the Louisiana LNG Industry to consider matters relating to industry business, to foster education and understanding of shared challenges, and to promote policies beneficial to the industry before federal, state and local government agencies.
April 1st, 2019
U.S. LNG Developer Is Offering Shorter-Length Supply Contracts
By Naureen S. Malik
(Bloomberg) — In the fast-expanding global liquefied natural gas market, long-term supply contracts lasting 20 years
have become the norm. But one aspiring U.S. producer is challenging that model.
Closely held Commonwealth LNG, which is seeking to build a $4 billion Louisiana export terminal, is offering potential customers contracts as short as 10 years, Chief Executive Officer Paul Varello said in a telephone interview. It’s also offering fixed-price terms, and is willing to sell for less than the U.S. industry standard of 115 percent of the Henry Hub benchmark, he said.
The possibility of shorter-term contracts shows how LNG is becoming more commoditized, as production and trading volumes continue to grow. Commonwealth is facing fierce competition not only from the world’s biggest LNG suppliers like Qatar and Royal Dutch Shell Plc but also about a dozen other U.S. export projects.
“I am hopeful that we will get to agreements with several of the customers” this week at the industry’s biggest event of this year, LNG19, in Shanghai, Varello said.
The Houston-based developer expects to receive approval for its project from the Federal Energy Regulatory Commission in late 2020 and then make a final investment decision in the fourth quarter of next year, Varello said. Start-up would then follow in the first quarter of 2024 or even earlier. Varello said the company will need six customers to be able to build 8.4 million tons per year of LNG capacity.
To contact the reporter on this story:
Naureen S. Malik in New York at nmalik28@bloomberg.net
To contact the editors responsible for this story:
Simon Casey at scasey4@bloomberg.net
Carlos Caminada
March 7th, 2019
2019 USCG Issues Letter Of Recommendation to FERC that the Calcasieu Waterway be Regarded as Suitable for Commonwealth LNG’s Terminal
March 5th, 2019
Arup to Advise on Industry First LNG Modular Tank Design
Arup has announced that it has been selected by Commonwealth LNG to provide specialist engineering services for the development of industry’s first LNG modular storage tanks.
February 20th, 2019
CEO for Commonwealth LNG -Paul Varello, speaks in Japan about the Need for Innovation in Designing and Building Future LNG Liquefaction Plants
February 5th, 2019
Commonwealth LNG’s EVP, Robert Powers, Named 2019 Vice Chair, LEEA
December 21st, 2018
Commonwealth LNG files draft Resource Report 13 with FERC.
Commonwealth LNG submitted draft Resource Report 13 to the Federal Energy Regulatory Commission (FERC) for its proposed natural gas liquefaction and export facility in Cameron Parish, Louisiana.
“With the submission of draft Resource Report 13 to the FERC, Commonwealth LNG continues to actively progress the development of its export facility,” said Paul Varello, President and CEO of Commonwealth Projects. “Commonwealth LNG is focused on managing risk and lowering capital cost resulting in a platform that enables the competitive delivery of LNG to any market, under shorter and more flexible contract terms.”
October 18th, 2018
Commonwealth LNG Selects Transport Technology Firm, Mammoet USA South, Inc.
Commonwealth LNG is pleased to announce that Mammoet USA South, Inc., a global leader in heavy lifting and transport technology, has been awarded a consulting services agreement for Commonwealth’s LNG export terminal located in Cameron Parish, Louisiana.
The agreement secures Mammoet’s extensive experience and expertise in heavy lifting and transport of large process modules in support of Commonwealth’s Front-End Engineering Design (FEED) and Federal Energy Regulatory Commission (FERC) permitting process. Commonwealth LNG anticipates filing its Draft Resource Reports with FERC on Dec. 1, 2018.
October 12th, 2018
Commonwealth LNG Selects TechnipFMC, CH-IV, Lloyds
Commonwealth LNG signed an engineering service contract with TechnipFMC, a worldwide leader in LNG engineering, for engineering services and development of Resource Report 13 for the proposed 8.4 MTPA LNG export terminal located on the western shore at the mouth of the Calcasieu Ship Channel in Cameron Parish, Louisiana.
Commonwealth LNG signed a master services agreement with Lloyd Engineering for the marine facility and turning basin design, and support of the Water Suitability Assessment (WSA), with the U.S. Coast Guard. Collectively with the Maritime Pilots Institute in Covington, Louisiana, the group completed simulations and then subsequently prepared a draft WSA.
February 22nd, 2018
Notice of Intent to Prepare an Environmental Impact Statement for the Planned Commonwealth LNG Project
The staff of the Federal Energy Regulatory Commission (FERC or Commission) will prepare an environmental impact statement (EIS) that will discuss the environmental impacts of the Commonwealth LNG Project involving construction and operation of facilities by Commonwealth LNG LLC (Commonwealth LNG) in Cameron Parish, Louisiana.
The Commission will use this EIS in its decision-making process to determine whether the project is in the public interest.
January 3rd, 2018
Commonwealth LNG Names SMBS, Debt Financial Advisors
Commonwealth LNG has announced that Sumitomo Mitsui Banking Corporation (SMBC) will serve as its debt financial advisors for a Liquefied Natural Gas (LNG) Export Terminal on the west bank of the Calcasieu River in Cameron, Louisiana.
Commonwealth’s President and CEO Paul Varello said, “We are pleased to be partnered with this global financial leader as we move forward with our innovative LNG investment. SMBC’s experience and reputation in capital asset advice and management will help ensure the stability and predictability of our development project in southwest Louisiana.”
November 1st, 2017
Commonwealth LNG joins LNG industry leaders in becoming a member of the Louisiana Energy Export Association (LEEA).
