financetom
Business
financetom
/
Business
/
Commonwealth LNG sees new interest after securing export license
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Commonwealth LNG sees new interest after securing export license
Mar 10, 2025 2:37 PM

HOUSTON (Reuters) - Commonwealth LNG has seen an increase in interest from prospective buyers since it secured an export license from the administration of U.S. President Donald Trump last month, the project's owner said on Monday.

The U.S. Department of Energy granted an LNG export license to the Commonwealth LNG project in Louisiana in February, the first approval of LNG exports after former President Joe Biden paused them early last year for environmental review.

"The...approval took a lot of risks off the table for the buyers and that's something we have been waiting for for over two years," Ben Dell, Managing Partner of energy management company Kimmeridge, told Reuters on the sidelines of the CERAWeek energy conference in Houston. 

"And yes, it has brought additional buyers into the market."

Dell did not identify any of the new prospective buyers.

Kimmeridge acquired Commonwealth LNG in June last year. Commonwealth is developing a 9.5 million metric tons per annum (MTPA) LNG plant in Cameron, Louisiana.

The project currently has almost 8 million MTPA of its supply either under contract or under consideration, including 2.5 MTPA with Woodside Energy and 2 MTPA that Kimmeridge will keep for itself to trade.

Dell said the Trump administration's pursuit of tariffs on imports from some trading partners has created uncertainty because Commonwealth plans to source some of its construction materials from abroad.

"Within our budget we have always had a line item for tariffs so really it is about understanding where we want to source our product from versus changing anything material in the project," Dell told Reuters.  

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
US packaging firm Amcor to buy Berry in $8.43 bln deal
US packaging firm Amcor to buy Berry in $8.43 bln deal
Nov 19, 2024
Nov 19 (Reuters) - Packaging company Amcor Plc ( AMCCF ) on Tuesday agreed to buy peer Berry in a deal valuing the latter at $8.43 billion, the companies said. (Reporting by Savyata Mishra in Bengaluru; Editing by Mrigank Dhaniwala) ...
XPeng forecasts upbeat fourth quarter revenue as new launches improve demand
XPeng forecasts upbeat fourth quarter revenue as new launches improve demand
Nov 19, 2024
(Reuters) -Chinese electric vehicle maker XPeng ( XPEV ) forecast fourth quarter revenue above Wall Street estimates on Tuesday, as a refreshed product line-up and improving domestic market help the company see higher demand. U.S.-listed shares of the company were up 5.1% in premarket trading. XPeng ( XPEV ) is seeing a steady demand for its MONA M03 mid-sized sedan,...
BW LPG to Sell BW Cedar Vessel, Exercises Purchase Option for BW Kizoku
BW LPG to Sell BW Cedar Vessel, Exercises Purchase Option for BW Kizoku
Nov 19, 2024
04:56 AM EST, 11/19/2024 (MT Newswires) -- BW LPG ( BWLP ) said Tuesday its BW LPG India subsidiary has decided to sell its 2007-built vessel BW Cedar for $65 million as part of a planned fleet renewal. The vessel will be delivered to the new owners in Q1 2025. The company also exercised a purchase option for BW Kizoku,...
Allegiant Travel Adds 44 Routes, Expands to New Cities
Allegiant Travel Adds 44 Routes, Expands to New Cities
Nov 19, 2024
04:51 AM EST, 11/19/2024 (MT Newswires) -- Allegiant Travel ( ALGT ) said Tuesday it has launched 44 new nonstop routes, including 11 routes to three new cities of Gulf Shores in Alabama, Colorado Springs in Colorado, and Columbia in South Carolina. Starting in February, the new flights will expand the airline's network options in 51 cities around the US,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved