Mubadala closes investment in US natural gas

Mubadala Energy, the international energy company headquartered in Abu Dhabi, 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 per cent equity stake.

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.

Commenting on this important milestone, 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.”

Commenting on the deal closing, 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.”

Most recently, Commonwealth LNG announced it has contracted Technip Energies to provide engineering, procurement and construction (EPC) services to build its state-of-the-art facility and anticipates receiving final investment decision later this year.