By Rita Shirley LeBleu
U.S. Department of Energy Secretary Chris Wright and Louisiana Governor Jeff Landry were choppered-in to Holly Beach on Friday, May 15 (about two miles south of the Cameron Ferry west landing) to participate in announcing the Final Investment Decision for the construction of Caturus Commonwealth LNG. The facility will export 9.5 million metric tons per year beginning in 2030.
“FID is the commitment, the moment the company stops being judged by what it says it’s going to do and starts being judged by what it does,” said Ben Dell, Managing Partner of Kimmeridge and Chairman of Commonwealth LNG.
Kimmeridge is the primary developer and majority stakeholder. Commonwealth is the name of the export facility being built in Cameron Parish. Caturus is the “parent” company of Caturus Upstream Operations and Commonwealth LNG.
Dell said Commonwealth LNG is being built in real community and that comes with responsibility.
“We have an obligation to be safe, transparent, reliable and environmental responsible to the community that hosts us here with this project,” he said. “That obligation does not end with FID. It begins.”
Gov. Landry said the company is investing $13 billion dollars. He has been eager to get to the $100 billion mark in private investment since he was elected. The Commonwealth LNG made that happen. The facility will bring 2,000 construction jobs and 300 permanent jobs that have an average salary of over $100,000 per year, according to the Governor.
DOE Secretary Wright linked freedom and opportunity to energy, noting that the previous administration almost killed the Commonwealth project that had been years in the making when LNG projects were placed on pause. Wright said natural gas will be the primary energy source on the planet and delivered heartfelt congratulations from President Trump.
Longterm offtakes agreements have been secured. Phase 1 development is expected to generate more than $3 billion in annual export revenue when operations commence in 2030.
Caturus has authorized Technip Energies, Commonwealth LNG’s engineering, procurement and construction partner.