Carlyle Group is considering an equity investment in Commonwealth LNG, a proposed liquefied natural gas export project in Louisiana, as private equity continues to target large-scale energy infrastructure, according to a Bloomberg report.

People familiar with the matter said Carlyle is evaluating a potential stake in the project, which is owned by Kimmeridge Energy Management. Commonwealth LNG is targeting the first quarter of 2026 for a final decision on whether to proceed with full construction.

The project is planned to have capacity of about 9.5m tonnes per year and is located near Cameron, Louisiana. Companies including EQT and Japan’s Jera have already committed to purchase output from the facility.

The potential investment comes as the US, already the world’s largest LNG exporter, seeks to expand capacity to meet demand from Europe and Asia. At the same time, analysts have warned of the risk of a supply glut later in the decade as multiple projects come online.

Carlyle declined to comment, while Commonwealth LNG also declined to comment through a Kimmeridge spokesperson.

The evaluation highlights private equity’s continued appetite for energy transition and export infrastructure, despite growing scrutiny of long-term demand and pricing dynamics in global gas markets.

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