Kimmeridge Texas Gas (KTG) and Commonwealth LNG have signed a 20-year supply deal with Glencore, under the terms of which Glencore will purchase for 2 Mt/year of LNG over 20 years from Commonwealth and its equivalent natural gas from KTG under a netback agreement at international prices.
The 9.5 Mt/year Commonwealth LNG export project is currently under development in Cameron Parish, Louisiana (United States); with this deal it has secured 3 Mt/year of offtake under long-term agreements, in the way towards reaching an FID in the third quarter of 2025 before the scheduled first LNG production in 2029. In early May 2025, the US Commonwealth LNG group signed a Sale and Purchase Agreement (SPA) with a major Asian energy company, for a 20-year supply of 1 Mt/year of LNG. Although the name of the buyer was not disclosed, Malaysia’s Petronas was reportedly in talks with Commonwealth for LNG supply.
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