Mubadala Energy Finalises Strategic Investment In US Natural Gas And LNG Sector With Kimmeridge

Mubadala Energy has finalised its strategic investment in the US natural gas sector. This move was made through a partnership with Kimmeridge, an energy-focused asset manager. Mubadala now holds a 24.1% stake in Caturus, formerly known as SoTex HoldCo. Caturus is developing a leading integrated natural gas and LNG export platform in the US.

The platform combines upstream operations under Caturus Energy, previously Kimmeridge Texas Gas, with Commonwealth LNG. Commonwealth LNG is constructing a 9.5 mtpa liquefied natural gas export terminal near Cameron, Louisiana. The project is advancing rapidly after securing long-term LNG offtake agreements with global buyers like Glencore, JERA, and PETRONAS.

Technip Energies has been contracted to provide engineering, procurement, and construction services for the Commonwealth LNG facility. A final investment decision is expected later this year. This marks Mubadala Energy's first major investment in the US energy market, aligning with its strategy to expand globally and strengthen its position across the gas value chain.

Mubadala Energy's investment supports its commitment to low-emission energy sources and playing a key role in the energy transition. Mansoor Mohammed Al Hamed, Managing Director & CEO of Mubadala Energy, stated that this announcement demonstrates their international growth strategy. He emphasised their focus on balancing energy security and transition priorities while creating long-term value for shareholders.

Ben Dell, Managing Partner at Kimmeridge, commented on the deal's closure: "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."

Governance and Leadership

Mubadala Energy has appointed two representatives to Caturus' Board of Managers: Adnan Bu Fateem as Chief Operating Officer and Khaled Al Tamimi as Senior Vice President of Non-Operated Assets. These appointments reflect Mubadala's active involvement in partnership governance and value creation.

Adnan Bu Fateem remarked on their investment approach: "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."

The transaction was completed following clearance from the US government's Committee on Foreign Investment (CFIUS). This approval underscores Mubadala's commitment to responsible investment practices while pursuing growth opportunities in key global energy hubs.

With inputs from WAM