Abu dhabi: Mubadala Energy today announced the closing of its recently reported strategic investment in the US natural gas sector through its partnership with Kimmeridge, the energy-focused alternative asset manager, and the rebranding of SoTex HoldCo to Caturus, in which Mubadala Energy now owns a 24.1% equity stake.
According to Emirates News Agency, Caturus is building the leading integrated natural gas and LNG export platform in the US through a combination of its upstream operations under Caturus Energy, formerly Kimmeridge Texas Gas, and via Commonwealth LNG, a 9.5 mtpa liquefied natural gas export terminal to be located near Cameron, Louisiana. Most recently, Commonwealth LNG announced it has contracted Technip Energies to provide engineering, procurement, and construction services to build its facility and anticipates receiving a final investment decision later this year.
The LNG project is proceeding with momentum following the signing of a series of long-term binding LNG offtake agreements with global purchasers, including Glencore, JERA, and PETRONAS. The deal marks the first significant investment in the US energy market and reinforces Mubadala Energy's global growth strategy, further strengthening its position across the gas value chain. It also aligns with the company's commitment to investing in low-emission energy sources.
Mansoor Mohammed Al Hamed, Managing Director and CEO of Mubadala Energy, stated that the announcement is evidence of their international growth strategy. The platform's integrated approach aligns with their plans to invest across the gas value chain in key global energy hubs, balancing energy security and transition priorities while creating long-term value. Mubadala Energy has appointed two representatives to the Caturus Board of Managers, reflecting their hands-on, value-driven approach to partnership and governance.
Ben Dell, Managing Partner at Kimmeridge, expressed excitement about Mubadala Energy's investment, seeing it as an endorsement of their strategy at Caturus. Together, they aim to drive innovation across the LNG industry through a powerful platform, contributing to a sustainable energy future.
The closing follows the clearance of the voluntary filing submitted under the US government's Committee on Foreign Investment in the United States. Adnan Bu Fateem, Chief Operating Officer at Mubadala Energy, highlighted their investment approach, emphasizing the creation of long-term value through active stewardship and collaboration with the Kimmeridge and Caturus teams.