EQT Corp. signs 20-year LNG contract with Commonwealth LNG Louisiana facility

The companies announced on Monday that the U.S. energy company EQT Corp would purchase 1 million tonnes of liquefied gas per year (mtpa), from Commonwealth LNG’s planned export facility on the Gulf Coast, near Cameron, Louisiana.

EQT will purchase the LNG at a fixed price indexed by Henry Hub, and market and optimize their cargos on an international level.

The company stated that the additional export capacity would allow EQT's domestic direct-to customer strategy to be expanded into global energy markets.

Commonwealth LNG has been in the news this week.

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The U.S. Department of Energy has granted final authorization for exports under non-free trade agreements to its export facility located in Louisiana.

The Commonwealth facility was approved by the federal government to produce 9.5 millions tonnes of LNG per year.

Federal Energy Regulatory Commission

In June,

The company intends to make its final investment decision by the end of this year. First production is scheduled for 2029.

The United States is working hard to surpass Qatar and Australia as the largest LNG exporter in the world.

January

Immediately after taking office, Donald Trump lifted the pause on new LNG permits that had been placed by the previous administration to review public interests criteria in 2024.

EQT has recently signed a new agreement.

similar 20-year deal

NextDecade will purchase 1.5 mtpa LNG from its Rio Grande Export Facility in Texas.

(source: Reuters)