Mubadala Energy invests in U.S. LNG platform Caturus, expanding globally and reinforcing commitment to energy transition and value creation
Mubadala Energy, an international energy firm based in Abu Dhabi, has officially completed its strategic investment in the U.S. natural gas market. This significant move comes in partnership with Kimmeridge, a U.S.-based energy-focused alternative asset manager. As part of the development, SoTex HoldCo has undergone a rebranding and is now known as Caturus, in which Mubadala Energy holds a 24.1% equity stake.
Caturus is poised to become a leading integrated natural gas and liquefied natural gas (LNG) export platform in the United States. The company’s operations are two-fold: upstream activities under Caturus Energy (formerly Kimmeridge Texas Gas) and the downstream LNG export project through Commonwealth LNG. The Commonwealth LNG terminal is planned to have a total export capacity of 9.5 million tonnes per annum (mtpa) and will be situated near Cameron, Louisiana.
Commonwealth LNG has been gaining traction with strong commercial progress. It recently signed a contract with Technip Energies for the provision of engineering, procurement, and construction (EPC) services to build the terminal. A final investment decision (FID) is expected later this year. Moreover, the project has already secured long-term binding offtake agreements with leading global energy players, including Glencore, JERA, and PETRONAS.
This deal marks Mubadala Energy’s first major foray into the U.S. energy sector, underlining its international expansion strategy. The investment enhances the company’s position within the global gas value chain and demonstrates its commitment to low-emission energy sources. It reflects Mubadala Energy’s broader goal of facilitating the global energy transition while maintaining energy security.
Mansoor Mohammed Al Hamed, Managing Director and CEO of Mubadala Energy, emphasized the strategic importance of the investment, stating: “This transaction exemplifies our strategy of international growth. Caturus’ integrated and responsible operating model aligns well with our intention to invest throughout the gas value chain. We aim to strike a balance between energy transition and security while generating long-term value for our shareholders.”
Ben Dell, Managing Partner at Kimmeridge, welcomed the partnership, calling Mubadala Energy’s investment a strong endorsement of Caturus’ strategic direction. “We are excited to bring to life the only fully integrated independent natural gas platform in the U.S. With Mubadala’s support, we are well-positioned to advance innovation and sustainability in the LNG sector.”
As part of the partnership, Mubadala Energy will actively participate in Caturus’ governance. Two of its senior leaders, Adnan Bu Fateem, Chief Operating Officer, and Khaled Al Tamimi, Senior Vice President of Non-Operated Assets, have been appointed to the Caturus Board of Managers. This move highlights Mubadala’s commitment to active stewardship and strategic oversight.
Adnan Bu Fateem added, “Our investment philosophy focuses on long-term value creation through proactive management. We look forward to working closely with Kimmeridge and Caturus to ensure commercial success while meeting operational and sustainability goals.”
The investment was finalized after clearance from the Committee on Foreign Investment in the United States (CFIUS), signifying regulatory approval and the formal closure of the deal.
