Kirkland Advises Caturus on the Final Investment Decision for its $13 Billion LNG Export Facility in Cameron, LA

Kirkland & Ellis represented Caturus LLC (Caturus) on its Final Investment Decision (FID) for its $13 billion Commonwealth LNG project that includes the financing for construction of the 9.5 million tonnes per annum liquefied natural gas export facility in Cameron Parish, Louisiana. The transaction garnered strong interest from both equity and debt investors, resulting in total commitments of $21.25 billion.

Equity participants included Mubadala Energy, who already holds a 24.1% stake in the Caturus platform that includes Commonwealth LNG, and Canada Pension Plan Investment Board, who contributed $1.2 billion to increase its total stake in Caturus to 31%. In addition, major financial partners in the project include EOC Partners, funds and accounts managed by BlackRock, and an Ares Infrastructure Opportunities fund.

The Commonwealth LNG facility is a central component of Caturus' integrated natural gas strategy to meet an expanding global energy market seeking reliable power on demand with a lower-carbon footprint. This pragmatic approach allows the company to have direct oversight and accountability for exploration and production of natural gas, as well as liquefaction capabilities to market LNG for export.

Read Caturus’ press release