“In this highly competitive market, it is critical for companies – particularly ones pursuing an LNG greenfield project – to recognize their core competencies and strengths,” said Kalpesh Patel, Gunvor Co-Head of LNG Trading. “Commonwealth LNG’s engineering and procurement team is best in class. And, now, with the comprehensive support of Gunvor’s LNG and US Gas marketing team, Commonwealth LNG will excel not only at controlling costs and project execution, but also at commercializing their project and creating the lowest cost offering on the US Gulf Coast.
“We are very pleased to announce this strategic partnership with Gunvor, the most active LNG trader in the world,” said Paul Varello, Commonwealth’s President and CEO. “We believe Gunvor’s substantial capabilities in LNG marketing and overall market presence, coupled with Commonwealth’s strengths in engineering, construction and project execution create a dynamic combination that ultimately differentiates Commonwealth from every other US LNG project currently chasing FID.”
Commonwealth LNG expects to take a final investment decision in Q1 of 2021 and deliver its first shipments of LNG in Q2 of 2024.
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