As the team behind the Commonwealth LNG project proposed for Cameron, LA, pushes toward a final investment decision this year, Executive Chairman Paul Varello said the global natural gas market is on the precipice of change despite the relative calm over the past year.

When Varello and the Commonwealth team proposed the more than 9 million metric ton/year (mmty) facility over a decade ago, the goal was to use the next generation of modular liquefied natural gas technology to create a plant with lower upfront costs and lower associated emissions.

Now, with half of Commonwealth’s capacity under final or tentative agreements, Varello said the firm is looking toward the future of a gas market with new emerging players and new ways of making contracts.

In September, Commonwealth...