FERC UPHOLDS COMMONWEALTH LNG'S FINAL AUTHORIZATION

Key regulatory milestone paves way for final investment decision in Q3 2025 2025; first LNG production expected in 2029

HOUSTON, June 18, 2025 /PRNewswire/ -- Commonwealth LNG ("Commonwealth") today announced it has received the Federal Energy Regulatory Commission's (FERC) final order ("Final Order") upholding authorization for its 9.5 million tonnes per annum (Mtpa) liquefied natural gas (LNG) export project located on the Calcasieu Ship Channel near Cameron, Louisiana, USA.

With the FERC Final Order in place and prior receipt of a conditional non-free trade agreement export authorization from the United State Department of Energy, Commonwealth anticipates reaching a final investment decision (FID) in the third quarter of this year with first LNG production expected in 2029. The Commonwealth LNG project is proceeding with significant momentum from recently announced long-term binding LNG offtake agreements with top-tier global purchasers, including Glencore, JERA  and PETRONAS, and line of sight toward finalizing its commercial book in the near term.

Ben Dell, Managing Partner of Kimmeridge and Chairman of Commonwealth, said, "We are pleased to have received this Final Order from FERC and we thank the regulatory body for their diligent and thorough analysis. This milestone further paves the way for development of a state-of-the-art LNG export facility that strengthens energy security domestically and for our allies, all while prioritizing environmental stewardship and providing sustained economic benefit for local communities."

Commonwealth is pioneering an integrated wellhead-to-water strategy in partnership with its upstream operating entity to deliver low cost, low-emission gas to the global market which is seeking supply from trusted trading partners.

"Receiving the FERC Final Order is a tribute to the persistence and outstanding execution of our team," noted Commonwealth President and CEO Farhad Ahrabi.  "We likewise greatly appreciate the community support we received in Cameron and the surrounding area.  We look forward to realizing the benefits that this facility will bring for all who have contributed to making it happen."

The Commonwealth export facility is expected to unlock approximately $11 billion in investments in Louisiana and an estimated $3.5 billion in annual export revenue, unleashing American energy, utilizing approximately 2,000 workers at the peak of construction and providing 270 high-paying jobs when the facility begins operations. Development and operation of the facility will also usher in vital improvements to community healthcare, education and critical infrastructure.

About Commonwealth LNG
Commonwealth LNG is a 9.5 mtpa liquefied natural gas (LNG) export terminal project located 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.

Mubadala Energy, the Abu Dhabi headquartered international energy company, joined the project in April when it acquired a 24.1% interest in Kimmeridge's SoTex HoldCo LLC, holder of two portfolio companies: Kimmeridge Texas Gas, which operates an upstream unconventional gas business in the Eagle Ford in South Texas, and Commonwealth LNG.

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                            
Vice President, Corporate Communications
Email: [email protected]  
Ph: 281-794-9606

Kimmeridge
Daniel Yunger / Hallie Wolff / Emma Cloyd
Email: [email protected]  
Ph: 917.574.8582 / 917.842.1127

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SOURCE Commonwealth LNG