Jera’s US Purchase Agreement With Commonwealth LNG Terminated

(Bloomberg) -- A purchase agreement between Commonwealth LNG and Japan’s top liquefied natural gas buyer, Jera Co., has been terminated, according to a document filed with the US Department of Energy.

Jera and Commonwealth entered the long-term agreement last year, which would’ve seen the proposed Louisiana-based export project supply 1 million tons of LNG annually for 20 years. The notification of the deal’s termination was dated April 1 and filed on behalf of Commonwealth Energy. The agreement was terminated effective March 3, the letter said, without giving a reason.

Spokespeople for Commonwealth LNG and Jera did not immediately respond to requests for comment.

The planned Commonwealth LNG project is under development by private equity-backed Kimmeridge Energy Management LLC, whose managing partner Ben Dell said last week that a final investment decision is expected in April. The project has other long-term offtake agreements with purchasers including Glencore Plc and Malaysia’s Petronas.

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