CHUNYIP WONG
EQT Corp. (NYSE:EQT) said Monday it agreed to supply 1M tons/year of liquefied natural gas for the planned Commonwealth LNG facility in Louisiana under a 15-year tolling agreement.
Commonwealth LNG is developing a 9.3M tons/year liquefied natural gas export terminal project located on the Calcasieu River at the Gulf of Mexico; final terms for the EQT (EQT) deal are pending a final investment decision on the project, which Commonwealth anticipates in Q1 2024, with first cargo deliveries expected in 2027.
“Our tolling capacity gives us the flexibility to sell our gas directly to end users globally and we are currently pursuing long-term purchase agreements with prospective international buyers,” EQT (EQT) President and CEO Toby Rice said.
“Accessing EQT’s natural gas production, which achieved a 20% Y/Y reduction in Scope 1 and Scope 2 greenhouse gas emissions, supports Commonwealth’s goal of achieving best in class environmental standards,” Commonwealth LNG said.