Commonwealth LNG to access EQT natural gas supply in 15-year deal
(WO) – Commonwealth LNG has entered into a Heads of Agreement (HOA) with EQT, the largest producer of natural gas in the U.S., for 1 million tons per annum of LNG under a 15-year tolling agreement, and associated gas supply to Commonwealth LNG's facility in Cameron, Louisiana.
Commonwealth LNG Founder and Executive Chairman Paul Varello said, "This agreement will connect EQT's vast natural gas assets to Commonwealth's LNG facility, thus creating a robust value chain from wellhead to water. Accessing EQT's natural gas production, which achieved a 20% year-over-year reduction in Scope 1 and Scope 2 greenhouse gas emissions, supports Commonwealth's goal of achieving best in class environmental standards."
Commonwealth anticipates a final investment decision on the project in the first quarter of 2024, with first cargo deliveries expected in 2027. An accelerated construction schedule will allow the project to be built in three years using a modular approach with major components being fabricated offsite.