A planned liquefied natural gas export facility on Louisiana’s Gulf Coast has lined up financial backing from a syndicate of 20 international institutions, building on the project’s recent final investment decision.
Commonwealth LNG secured the commitments to help fund its 9.5-million-tonne-per-year export terminal in Cameron Parish, Pipeline & Gas Journal reports. The financing marks another milestone for the facility, which cleared its final investment decision shortly before the backing was announced.
Caturus said the financing package combines project finance-style debt facilities, term loans, and additional funding for reserves and working capital. The lender group spans North America, Europe, Asia and the Middle East, and includes Bank of America, Citibank, HSBC, Barclays, MUFG, Royal Bank of Canada, Scotiabank and Wells Fargo, among other international banks.
