Private equity firm Kimmeridge, through its subsidiary Kimmeridge Texas Gas, has acquired a 90 per cent stake in proposed U.S. liquefied natural gas export project Commonwealth LNG, it said on Tuesday.
Kimmeridge appointed former BP Americas head David Lawler as CEO of Kimmeridge Texas Gas, effective immediately. Commonwealth LNG has been trying to develop a 9.5 million metric tons per annum LNG export facility in Cameron, Louisiana, and has been unable to reach a financial decision as it has not yet received an export licence from the Department of Energy to sell the superchilled gas to non-FTA countries.
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