Mubadala Energy, Abu Dhabi-headquartered international energy company, has announced the completion of its recently announced strategic investment in the US natural gas market expansion with its partnership with Kimmeridge, energy-focused alternative asset manager, and the rebranding of SoTex HoldCo to Caturus, in which Mubadala Energy now has a 24.1% equity interest.
Caturus is building the leading integrated natural gas and LNG export platform in the US by combining its upstream business under Caturus Energy, formerly Kimmeridge Texas Gas, and through Commonwealth LNG, a 9.5 mtpa liquefied natural gas export terminal to be located near Cameron, Louisiana.
Most recently, Commonwealth LNG reported that it has hired Technip Energies to deliver engineering, procurement and construction (EPC) services to construct its cutting-edge facility and expects to receive a final investment decision later this year. The LNG project is proceeding with great momentum after a series of long-term binding LNG offtake agreements had been signed with top-tier global buyers such as Glencore, JERA and Petronas.
The deal is the first significant investment in the US natural gas market expansion and reinforces Mubadala Energy’s global growth strategy and further strengthens its position across the gas value chain. The deal is also the company’s goal of being a key player in energy transition through investments in low-emission energy solutions, said a statement.
Mansoor Mohammed Al Hamed, Managing Director & CEO of Mubadala Energy, said: “Today’s announcement is further evidence of our international growth strategy in action. The platform’s integrated and responsible approach aligns with our plans to invest across the gas value chain in key global energy hubs where we can play a proactive role in balancing energy security and transition priorities while creating long-term value for our shareholder. We look forward to continuing our work alongside the Caturus and Kimmeridge teams.”
Ben Dell, Managing Partner at Kimmeridge said: “Mubadala Energy’s investment is a strong endorsement of our strategy at Caturus, and we’re excited to collaborate in bringing the only fully integrated natural gas independent to life. Together, we will drive innovation across the LNG industry through a powerful and responsible platform, contributing to a cleaner, more sustainable energy future.”
Bu Fateem added: “Mubadala Energy’s investment approach helps create long-term value through active stewardship. We’re looking forward to collaborating with the Kimmeridge and Caturus teams in shaping the strategic direction of this platform to ensure the commercial, operational and sustainability priorities are met.”
