- Commonwealth LNG has confirmed a 20-year sale and purchase agreement with PETRONAS LNG Ltd. - PETRONAS is a subsidiary of Malaysia's national oil and gas company. - The agreement involves the purchase of 1 million tonnes per annum of LNG from Commonwealth's facility in Cameron, Louisiana. - Commonwealth LNG has secured 4 MTPA of offtake under long-term agreements. - The company aims to finalize its commercial setup before a targeted final investment decision in Q3 2025. - Anticipated first LNG production is scheduled for 2029. - Commonwealth President and CEO Farhad Ahrabi expressed excitement about the collaboration with PETRONAS, highlighting their expertise. - PETRONAS Vice President Shamsairi M Ibrahim stated that the agreement reflects their commitment to global partnerships and reliable LNG supply. - The first phase of Commonwealth's development is projected to incur over $11 billion in investments in Louisiana. - The project is expected to generate approximately $3.5 billion in annual export revenue. - Around 2,000 workers will be employed at peak construction, with 275 high-paying jobs when operations begin in late 2029. - Commonwealth is owned by Kimmeridge SoTex Holdco LLC, focusing on providing low-cost natural gas from wellhead to water. - The sale and purchase agreement will become effective upon meeting customary conditions, including an affirmative final investment decision.

Commonwealth LNG Confirms 20-Year Sale and Purchase Agreement with PETRONAS

News provided by Commonwealth LNG

Jun 17, 2025, 09:00 ET

HOUSTON, June 17, 2025 /PRNewswire/ -- Commonwealth LNG ("Commonwealth") today identified PETRONAS LNG Ltd. ("PETRONAS"), a subsidiary of Malaysia's national oil and gas company, as the major Asian energy company referenced in the company's May 5 announcement of a buyer to purchase 1 million tonnes per annum (MTPA) of LNG for 20 years from Commonwealth's 9.5 MTPA facility under development in Cameron, Louisiana.

Commonwealth LNG currently has 4 MTPA of offtake under long-term agreement, with line of sight toward finalizing its commercial book ahead of a targeted final investment decision in Q3 2025 and anticipated first LNG production in 2029.

"We are excited to collaborate with PETRONAS, a trusted LNG supplier with decades of expertise," said Commonwealth President and CEO Farhad Ahrabi. "We value this partnership and the endorsement of our team by this recognized industry leader."

Meanwhile, Shamsairi M Ibrahim, Vice President of LNG Marketing and Trading at PETRONAS, shared, "This agreement underscores PETRONAS' commitment to fostering global partnerships that ensure reliable, sustainable and long-term LNG supply for our customers. Collaborating with Commonwealth LNG will expand our supply node and strengthen our presence in the global LNG market."

Commonwealth's phase 1 development is expected to bring an investment of more than $11 billion to Louisiana and generate an estimated $3.5 billion in annual export revenue. The project is expected to employ approximately 2,000 workers at the peak of construction and provide approximately 275 high-paying jobs when the facility begins operations in late 2029.

Commonwealth is owned by Kimmeridge SoTex Holdco LLC ("SoTex"), which was founded by Kimmeridge, an asset manager focused on the energy sector. Through SoTex, which also holds an upstream natural gas development company called Kimmeridge Texas Gas, Kimmeridge is building America's first integrated gas independent to deliver low-cost natural gas from wellhead-to-water and meet burgeoning demand for responsibly produced LNG across global markets.

The SPA will become fully effective upon the satisfaction of customary conditions, including an affirmative final investment decision on the Project.

About Commonwealth LNG
Commonwealth LNG is a 9.5 MTPA liquefied natural gas (LNG) export terminal project located on the Calcasieu River on the Gulf Coast near Cameron, Louisiana. The project's leadership team is committed to building a world-class LNG facility by staying relentlessly focused on managing risk and lowering cost.
Website: www.CommonwealthLNG.com
LinkedIn: www.linkedin.com/company/commonwealth-lng/

About PETRONAS
PETRONAS is a global energy group with operations in over 100 countries. Through its integrated LNG value chain and strong sustainability focus, PETRONAS delivers reliable energy solutions to meet rising global demand.

About Kimmeridge
Founded in 2012 by Ben Dell, Dr. Neil McMahon and Henry Makansi, Kimmeridge is an alternative asset manager focused on the energy sector. The firm is differentiated by its direct investment approach, deep technical knowledge, active portfolio management, proprietary research and data gathering.

Media Inquiries:

Commonwealth LNG
Lyle Hanna
VP, Corporate Communications
281-794-9606
lhanna@teamcpl.com

Kimmeridge
Daniel Yunger / Hallie Wolff / Emma Cloyd
Kekst-Kimmeridge@kekstcnc.com
917.574.8582 / 917.842.1127

SOURCE Commonwealth LNG