Commonwealth LNG, Gunvor ink LNG marketing and supply deal
Commonwealth LNG has signed a strategic LNG marketing and gas supply deal with the Swiss trader Gunvor.
Under the agreement, Gunvor will support Commonwealth in securing binding LNG offtake and gas supply agreements for the full capacity of the latter’s LNG export facility in Cameron Parish, Louisiana.
In addition, Gunvor will commit to take up to 3 million tonnes per annum (MTPA) of LNG offtake from the facility, Commonwealth LNG said in its statement.
Located on the west side of the Calcasieu Ship Channel, near the entrance to the Gulf of Mexico, the project will include six LNG storage tanks, each with a capacity of 40,000 cubic meters, one marine loading berth capable of loading LNG carriers up to a capacity of 216,000 cubic meters, and a 3.04-mile long, 30-inch diameter pipeline that will connect the LNG facility with existing intrastate and interstate pipelines for the purpose of supplying gas to the project.
Commonwealth LNG expects to take a final investment decision in the first quarter of 2021 and deliver its first shipments of LNG in the second quarter of 2024.