Latest news with #FarhadAhrabi
Associated Press
2 hours ago
- 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
5 hours ago
- 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
9 hours ago
- 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.
The Sun
9 hours ago
- Business
- The Sun
Petronas signs 20-year US LNG Deal with Commonwealth LNG
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.
New Straits Times
10 hours ago
- Business
- New Straits Times
Petronas signs 20-year LNG supply deal with Commonwealth LNG to boost US portfolio
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas), via its subsidiary Petronas LNG Ltd, has signed a 20-year liquefied natural gas (LNG) sale and purchase agreement with United States-based Commonwealth LNG, further strengthening its global supply portfolio. Under the agreement, Petronas will procure one million tonnes per annum (mtpa) of LNG from Commonwealth LNG's 9.5 mtpa facility currently under development in Cameron, Louisiana. In a statement, Petronas said the deal marks a strategic move to secure long-term LNG supply from the United States as part of its global expansion and diversification efforts. A document exchange ceremony was held on the sidelines of Energy Asia 2025 between Petronas LNG chief executive officer (CEO) Ezran Mahadzir and Commonwealth LNG president and CEO Farhad Ahrabi. Also in attendance were Petronas Gas & Maritime Business executive vice president and CEO Datuk Adif Zulkifli, and Petronas group LNG Marketing and Trading vice president Shamsairi M Ibrahim. Shamsairi said the agreement underscores Petronas' commitment to delivering a reliable and sustainable LNG supply to customers worldwide. "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," he said. The collaboration is expected to enhance strategic energy cooperation, support regional energy security and reinforce Commonwealth LNG's role as a reliable player in the global LNG landscape. The Commonwealth LNG facility is expected to begin operations later this decade.
