HomeNewsKimmeridge Texas Gas closes follow-on control investment in Commonwealth LNG

Kimmeridge Texas Gas closes follow-on control investment in Commonwealth LNG

6/27/2024

Kimmeridge Texas Gas has announced the closing of a follow-on control investment in Commonwealth LNG. The funding will support a 9.5-MMtpy liquefied natural gas (LNG) export facility in Cameron, Louisiana, through anticipated final investment decision (FID) in 1H 2025, and will raise Kimmeridge’s equity ownership in Commonwealth to > 90%.

Ben Dell, Managing Partner of Kimmeridge and Director at KTG, said, “We are excited to take a controlling interest in Commonwealth LNG as we integrate our business from well-head to water, and look forward to the completion of a best-in-class LNG export facility in Louisiana.”

Farhad Ahrabi, Commonwealth CEO and President, said, “We are delighted to integrate into the Kimmeridge team as we work towards FID in 2025. Kimmeridge shares our vision of bringing a differentiated offering to the LNG market, and we look forward to commencing delivery to our customers in 2028.”

David Lawler, CEO of KTG, said, “I look forward to advancing the company’s plans of becoming a fully integrated provider of LNG from well-head to water, including through our expanded partnership with Commonwealth, with an option for net-zero cargoes. When produced responsibly, LNG is a reliable, easily accessible energy source. In the future, KTG will export clean energy across the world, helping economies accelerate their transition ambitions.”

 

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