Commonwealth LNG has entered into a heads of agreement (HOA) with EQT Corp. for one million tons per annum (mtpa) of liquefied natural gas (LNG) under a 15-year tolling agreement, and associated gas supply to Commonwealth LNG's facility in Cameron, Louisiana. Commonwealth expects a final investment decision for the project in the first quarter of 2024, with the first cargo deliveries expected in 2027. The final terms remain subject to negotiation for a definitive agreement between EQT and Commonwealth, the two companies said in separate news releases Monday. Commonwealth said that an accelerated construction schedule would allow the project to be built in three years "using a modular approach with major components being fabricated offsite". The company added that the terms anticipated under the HOA would begin at the start of the facility's commercial operation.