Latest news with #FarhadAhrabi
American Press
04-08-2025
- Business
- American Press
Commonwealth LNG awards EPC contract to Technip Energies
Commonwealth LNG announced Monday it has contracted Technip Energies to provide engineering, procurement and construction (EPC) services for Commonwealth's 9.5 million tonnes per annum LNG facility under development in Cameron Parish. Technip Energies is a world leader in modular engineering, design and delivery of LNG projects. The company has delivered more than 20 percent of the world's LNG operating capacity, including the design and delivery of facilities and associated LNG infrastructure. Technip Energies previously completed front-end engineering and design activities for the Commonwealth LNG project. It has also undertaken significant effort to optimize Commonwealth LNG's construction schedule, cost, and the procurement plan for all aspects of the project. 'We are excited to continue working alongside Technip Energies as we build our state-of-the-art LNG export facility, a cornerstone of our integrated LNG strategy,' said Ben Dell, managing partner of Kimmeridge and chairman of Commonwealth. 'Technip Energies has been a valuable partner to Commonwealth, shares our commitment to operational excellence and will support our targeted production date of 2029. We look forward to delivering reliable, clean energy while creating lasting value for the local community.' 'We're pleased to have reached this critical milestone in our project's development as we expand our relationship with Technip Energies through the formal award of an EPC contract, that also includes Limited Notice to Proceed,' said Commonwealth LNG President and CEO Farhad Ahrabi. 'Utilizing Technip Energies' fully modular approach to construction as compared to the commonly used stick-built LNG facilities being developed in the US will enable us to ensure first class project execution with certainty of outcome on both cost and schedule for all our stakeholders.' 'We are honored to be awarded the Commonwealth LNG project which is a testament to our world leading expertise in modularized LNG solutions. This project is pivotal in enhancing global energy security by ensuring a reliable and efficient supply of LNG. We are eager to leverage our world-class experience in LNG projects associated with our SnapLNG by innovative modular and productized approach to contribute to the success of this critical energy initiative,' said Arnaud Pieton, CEO of Technip Energies. Commonwealth LNG anticipates a final investment decision on its LNG project in the second half of 2025 with LNG production commencing in 2029.
Yahoo
23-06-2025
- Business
- Yahoo
Commonwealth LNG export project secures US FERC approval
The US Federal Energy Regulatory Commission (FERC) has upheld the final order authorising Commonwealth LNG's 9.5 million tonnes per annum (mtpa) export project. This significant milestone paves the way for the company to reach a final investment decision (FID) in the third quarter (Q3) of this year, with first liquefied natural gas (LNG) production anticipated in 2029. Located on the Calcasieu Ship Channel near Cameron, Louisiana, the project is expected to generate substantial economic benefits including an $11bn investment in the state and an estimated $3.5bn in annual export revenue. The project has gained considerable traction with the announcement of long-term binding LNG offtake agreements with global purchasers such as Glencore, JERA and Petronas. Commonwealth Kimmeridge managing partner and chairman Ben Dell added: "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 prioritising environmental stewardship and providing sustained economic benefit for local communities." These partnerships are integral to Commonwealth's strategy to finalise its commercial book shortly. Commonwealth is implementing an innovative wellhead-to-water strategy through its upstream operating entity. This approach is designed to offer competitive pricing and lower emissions, aligning with the global market's demand for reliable supply sources. The construction and operation of the Commonwealth LNG facility are set to create significant employment opportunities, with around 2,000 workers expected at the peak of construction and 270 high-paying jobs upon commencement of operations. Additionally, the project will contribute to community development through improvements in healthcare, education and infrastructure. Commonwealth president and CEO Farhad Ahrabi said: "Receiving the FERC Final Order is a tribute to the persistence and outstanding execution of our team. We likewise greatly appreciate the community support we received in Cameron and the surrounding area. We look forward to realising the benefits that this facility will bring for all who have contributed to making it happen." "Commonwealth LNG export project secures US FERC approval" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
17-06-2025
- Business
- Associated Press
Commonwealth LNG Confirms 20-Year Sale and Purchase Agreement with PETRONAS
HOUSTON, June 17, 2025 /PRNewswire/ -- Commonwealth LNG ('Commonwealth') today identified PETRONAS LNG Ltd. ('PETRONAS'), a subsidiary of Malaysia's national oil and gas company, as the major Asian energy company referenced in the company's May 5 announcement of a buyer to purchase 1 million tonnes per annum (MTPA) of LNG for 20 years from Commonwealth's 9.5 MTPA facility under development in Cameron, Louisiana. Commonwealth LNG currently has 4 MTPA of offtake under long-term agreement, with line of sight toward finalizing its commercial book ahead of a targeted final investment decision in Q3 2025 and anticipated first LNG production in 2029. 'We are excited to collaborate with PETRONAS, a trusted LNG supplier with decades of expertise,' said Commonwealth President and CEO Farhad Ahrabi. 'We value this partnership and the endorsement of our team by this recognized industry leader.' Meanwhile, Shamsairi M Ibrahim, Vice President of LNG Marketing and Trading at PETRONAS, shared, 'This agreement underscores PETRONAS' commitment to fostering global partnerships that ensure reliable, sustainable and long-term LNG supply for our customers. Collaborating with Commonwealth LNG will expand our supply node and strengthen our presence in the global LNG market.' Commonwealth's phase 1 development is expected to bring an investment of more than $11 billion to Louisiana and generate an estimated $3.5 billion in annual export revenue. The project is expected to employ approximately 2,000 workers at the peak of construction and provide approximately 275 high-paying jobs when the facility begins operations in late 2029. Commonwealth is owned by Kimmeridge SoTex Holdco LLC ('SoTex'), which was founded by Kimmeridge, an asset manager focused on the energy sector. Through SoTex, which also holds an upstream natural gas development company called Kimmeridge Texas Gas, Kimmeridge is building America's first integrated gas independent to deliver low-cost natural gas from wellhead-to-water and meet burgeoning demand for responsibly produced LNG across global markets. The SPA will become fully effective upon the satisfaction of customary conditions, including an affirmative final investment decision on the Project. About Commonwealth LNG Commonwealth LNG is a 9.5 MTPA liquefied natural gas (LNG) export terminal project located on the Calcasieu River on the Gulf Coast 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. Website: LinkedIn: About PETRONAS PETRONAS is a global energy group with operations in over 100 countries. Through its integrated LNG value chain and strong sustainability focus, PETRONAS delivers reliable energy solutions to meet rising global demand. 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 VP, Corporate Communications 281-794-9606 [email protected] Kimmeridge Daniel Yunger / Hallie Wolff / Emma Cloyd [email protected] 917.574.8582 / 917.842.1127 View original content to download multimedia: SOURCE Commonwealth LNG
The Sun
17-06-2025
- Business
- The Sun
Petronas signs 20-year deal to purchase gas from US-based Commonwealth LNG
PETALING JAYA: Petroliam Nasional Bhd (Petronas), through subsidiary Petronas LNG Ltd, has entered a liquefied natural gas (LNG) sale and purchase agreement with Commonwealth LNG LLC, marking a key milestone in its strategy to diversify its LNG portfolio through long-term supply from the United States. Under the agreement, Petronas is purchasing one million tonnes per annum (mtpa) of LNG from Commonwealth LNG for 20 years from Commonwealth LNG's 9.5 mtpa facility currently under development in Cameron, Louisiana. The agreement was commemorated at a document exchange ceremony between Petronas LNG Ltd CEO Ezran Mahadzir and Commonwealth LNG president and CEO Farhad Ahrabi on the sidelines of Energy Asia 2025. Petronas LNG marketing and trading vice-president Shamsairi M Ibrahim said, 'This agreement underscores Petronas' commitment to fostering global partnerships that ensure reliable, sustainable and long-term LNG supply for our customers. Collaborating with Commonwealth LNG will expand our supply node and strengthen our presence in the global LNG market.' The collaboration signifies a key step towards a shared ambition to deliver sustainable energy solutions advancing strategic energy collaboration, contributing to regional energy security and reinforcing Commonwealth LNG's role as a reliable player in the global LNG landscape, Petronas said in a statement today. Farhad said, 'We're pleased to establish this partnership and proud that Commonwealth LNG has been invited to help extend Petronas' successful history of more than a half-century in serving global energy needs.'
The Sun
17-06-2025
- Business
- The Sun
Petronas, Commonwealth LNG ink 20-year sustainable LNG deal
KUALA LUMPUR: Petroliam Nasional Bhd's (Petronas) subsidiary, Petronas LNG Ltd, has entered into a liquefied natural gas (LNG) sale and purchase agreement with Commonwealth LNG, LLC, to diversify its LNG portfolio through long-term supply from the United States. Petronas announced in a statement that it has agreed to purchase one million tonnes per annum (mtpa) of LNG from Commonwealth LNG for a duration of 20 years. This will come from Commonwealth LNG's facility in Cameron, Louisiana, which is currently under development and has a capacity of 9.5 mtpa. Petronas LNG Marketing and Trading vice president Shamsairi M Ibrahim said the agreement underscores its commitment to fostering global partnerships that ensure reliable, sustainable and long-term LNG supply for its customers. 'Collaborating with Commonwealth LNG will expand our supply node and strengthen our presence in the global LNG market,' he said. Commonwealth LNG president and chief executive officer Farhad Ahrabi said the company has been invited to help extend Petronas' successful history of more than a century in serving global energy needs. According to the statement, this collaboration marks a significant step towards a shared ambition to deliver sustainable energy solutions, advancing strategic energy collaboration, contributing to regional energy security, and reinforcing Commonwealth LNG's role as a reliable player in the global LNG landscape. The signing was commemorated in a document exchange ceremony between Petronas LNG chief executive officer, Ezran Mahadzir, and Farhad on the sidelines of Energy Asia 2025. Hosted by Petronas, the Energy Asia conference runs from June 16 to 18 at the Kuala Lumpur Convention Centre.
