Commonwealth LNG and Gunvor Singapore Pte Ltd Sign Heads of Agreement

Principal Terms for 1.5 Mtpa of LNG Offtake for 15-year term

GENEVA & HOUSTON–(BUSINESS WIRE)–Commonwealth Projects, LLC and Gunvor Group Ltd today announced their
respective subsidiaries, Commonwealth LNG, LLC and Gunvor Singapore Pte
Ltd, have signed a heads of agreement (HOA). The HOA anticipates the
negotiation and finalization of a definitive 15-year liquefied natural
gas (LNG) sale-and-purchase agreement (SPA) for 1.5 million tonnes per
annum (Mtpa) of LNG offtake from the Commonwealth LNG export project
under development in Cameron Parish, Louisiana.

Kalpesh Patel, Gunvor Co-Head of LNG Trading said, “The agreement with
Commonwealth LNG is a significant step in executing Gunvor’s overall
strategy of uncovering and securing low cost resources and seamlessly
delivering them to high value markets. We look forward to working with
the Commonwealth team as they continue to progress their project.”

“We are proud to be entering into an agreement for a portion of our LNG
offtake with the Gunvor Group – one of the world’s premier commodities
trading houses,” said Paul Varello, Commonwealth’s President and CEO.
“Our mantra is to develop LNG solutions for the next generation; in
Gunvor, we have found a commercial partner who not only shares that
vision, but through its creativity and innovation exemplifies it.”

Commonwealth LNG expects to take a final investment decision on the
project later next year.

About Commonwealth LNG

Commonwealth LNG is an 8.4 mtpa liquefied natural gas (LNG) export
terminal project on the U.S. Gulf Coast near Cameron, Louisiana. The
Commonwealth LNG team is committed to developing and operating a
world-class LNG facility by staying relentlessly focused on managing
risk and lowering capital cost. This is achieved by employing a fully
modular design and construction approach for its liquefaction trains and
auxiliary equipment as well as its LNG storage tanks. This approach
results in a platform that enables the competitive delivery of LNG to
any market under more flexible contract terms. https://commonwealthlng.com/

About Gunvor Group Ltd

Gunvor Group is one of the world’s largest independent commodities
trading houses by turnover, creating logistics solutions that safely and
efficiently move physical energy from where it is sourced and stored to
where it is demanded most. The company is the leading independent global
trader of Liquefied National Gas (LNG). With strategic investments in
industrial infrastructure—refineries, pipelines, storage, terminals,
mining and upstream—Gunvor further generates sustainable value across
the global supply chain for its customers. More information can be found
at www.GunvorGroup.com

Contacts

Media Contact: Nick Eusepi, [email protected]
Financial
Contact: Clay Watson, [email protected]

Commonwealth LNG and Gunvor Singapore Pte Ltd Sign Heads of Agreement

Principal Terms for 1.5 Mtpa of LNG Offtake for 15-year term

GENEVA & HOUSTON–(BUSINESS WIRE)–Commonwealth Projects, LLC and Gunvor Group Ltd today announced their
respective subsidiaries, Commonwealth LNG, LLC and Gunvor Singapore Pte
Ltd, have signed a heads of agreement (HOA). The HOA anticipates the
negotiation and finalization of a definitive 15-year liquefied natural
gas (LNG) sale-and-purchase agreement (SPA) for 1.5 million tonnes per
annum (Mtpa) of LNG offtake from the Commonwealth LNG export project
under development in Cameron Parish, Louisiana.

Kalpesh Patel, Gunvor Co-Head of LNG Trading said, “The agreement with
Commonwealth LNG is a significant step in executing Gunvor’s overall
strategy of uncovering and securing low cost resources and seamlessly
delivering them to high value markets. We look forward to working with
the Commonwealth team as they continue to progress their project.”

“We are proud to be entering into an agreement for a portion of our LNG
offtake with the Gunvor Group – one of the world’s premier commodities
trading houses,” said Paul Varello, Commonwealth’s President and CEO.
“Our mantra is to develop LNG solutions for the next generation; in
Gunvor, we have found a commercial partner who not only shares that
vision, but through its creativity and innovation exemplifies it.”

Commonwealth LNG expects to take a final investment decision on the
project later next year.

About Commonwealth LNG

Commonwealth LNG is an 8.4 mtpa liquefied natural gas (LNG) export
terminal project on the U.S. Gulf Coast near Cameron, Louisiana. The
Commonwealth LNG team is committed to developing and operating a
world-class LNG facility by staying relentlessly focused on managing
risk and lowering capital cost. This is achieved by employing a fully
modular design and construction approach for its liquefaction trains and
auxiliary equipment as well as its LNG storage tanks. This approach
results in a platform that enables the competitive delivery of LNG to
any market under more flexible contract terms. https://commonwealthlng.com/

About Gunvor Group Ltd

Gunvor Group is one of the world’s largest independent commodities
trading houses by turnover, creating logistics solutions that safely and
efficiently move physical energy from where it is sourced and stored to
where it is demanded most. The company is the leading independent global
trader of Liquefied National Gas (LNG). With strategic investments in
industrial infrastructure—refineries, pipelines, storage, terminals,
mining and upstream—Gunvor further generates sustainable value across
the global supply chain for its customers. More information can be found
at www.GunvorGroup.com

Contacts

Media Contact: Nick Eusepi, [email protected]
Financial
Contact: Clay Watson, [email protected]

error: Content is protected !!