UAE’s Mubadala Energy Completes Acquisition in Caturus, Advancing LNG Export Facility

UAE-headquartered Mubadala Energy, a subsidiary of Mubadala Investment Company, recently finalized the acquisition of a 24.1% equity stake in Caturus, a subsidiary of Kimmeridge focusing on developing the Commonwealth LNG export facility in Louisiana. The deal marks a significant milestone in the energy sector and underlines Mubadala Energy’s commitment to sustainable energy solutions.

Strategic Investment in Caturus

With the acquisition, Mubadala Energy strengthens its presence in the LNG industry while aligning with Caturus’ innovative approach to developing an integrated natural gas and LNG export platform in the United States. The collaboration between Mubadala Energy and Kimmeridge sets the stage for driving advancements in the LNG sector and contributing to a cleaner energy future.

Ben Dell, Managing Partner at Kimmeridge, expressed enthusiasm about the partnership, stating, “Mubadala Energy’s investment is a strong endorsement of our strategy at Caturus. Together, we will drive innovation across the LNG industry, contributing to a more sustainable energy future.”

Building a Sustainable Energy Future

Caturus aims to merge its upstream operations under Caturus Energy with the Commonwealth LNG export terminal to create a fully integrated natural gas independent platform. The proposed 9.5 million tonnes per annum export terminal near Cameron, Louisiana, is set to play a crucial role in the global LNG market.

Commenting on the partnership, Mansoor Mohammed Al Hamed, Managing Director & CEO of Mubadala Energy, highlighted the platform’s responsible approach and its alignment with Mubadala Energy’s long-term value creation strategy. The collaboration between Caturus, Kimmeridge, and Mubadala Energy is poised to drive positive change in the energy landscape.

Key Appointments and Project Milestones

As part of the transaction, Mubadala Energy has appointed Adnan Bu Fateem and Khaled Al Tamimi to the Caturus board. Dave Lawler, former CEO of Kimmeridge Texas Gas, will lead Caturus as CEO, with Bryan Gunderson as CFO and Brian Cain as Chief Corporate Affairs Officer.

Technip Energies has been selected to provide EPC services for the Commonwealth LNG facility, with an expected final investment decision later this year. The project has secured offtake agreements with global players like Glencore, JERA, and Petronas, and recently received a final order from the FERC, solidifying its export authorization.

As the energy industry continues to evolve, collaborations like the one between Mubadala Energy, Caturus, and Kimmeridge are essential for driving sustainable energy solutions and fostering innovation in the LNG sector.