"Commonwealth LNG" has asked Federal Regulators for a Four-year Extension, to Construct and begin Shipping Liquefied Natural Gas (LNG) from a proposed Export Facility in Cameron Parish, Louisiana, a Regulatory Document Shows.
In a Letter to the Federal Energy Regulatory Commission (FERC), Commonwealth said the Extension was needed, due to an Approval Pause Implemented by former U.S. President Joe Biden (D) last year.
While Trump (R) lifted the Freeze this year, the Company said itCcannot meet thePpresent Deadline of November 2027, and wants it Extended to December 2031.
"These delays were beyond the control of Commonwealth and unavoidably affected Commonwealth’s ability to advance the Project on the schedule contemplated when its application was filed," the Company said in the Filing.
Commonwealth has so far sold 5 million Metric Tons per Annum of Planned Capacity, but is still Short of Selling Out the Total 9.5 Metric Tonnes Per Annum (MTPA) that would come Online upon Completion.
LNG Developers usually try to Sell most of the Future Flows in Long-Term Agreements before giving the Financial Greenlight, a Final Investment Decision (FID) for a Plant to be Built.
"We are in negotiations and have near-term line of sight to signing the remaining volumes and we remain on-track to achieve FID in 2025," Commonwealth said on Tuesday.
The Company has in the Past said its Developer Kimmeridge would also keep 2 MTPA for Itself from the Project to Trade.
Commonwealth has Sales Agreements with EQT, Glencore, JERA, and PETRONAS.
The FERC said if the Extension Request is Contested, it will aim to Issue a Decision Within 45 days.
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