Abu Dhabi, United Arab Emirates – Mubadala Energy Company confirmed the completion of the strategic investment deal announced last May for the American natural gas sector. This was accomplished through a partnership with Kimridge, a company specialized in managing alternative assets in the energy sector.
Sotex Holdco has been renamed Caturus, in which Mubadala Energy holds a 24.1% ownership stake. Caturus is developing a leading, integrated natural gas and LNG export platform in the United States. It combines two companies in its portfolio, including Caturus Energy and Commonwealth LNG. Its LNG export production capacity is expected to reach 9.5 million metric tons annually. The facility is scheduled to be built near Cameron, Louisiana, USA.
Commonwealth LNG recently announced the signing of a contract with Technip Energies. They will provide engineering, supply, and construction services to build its advanced, world-class facility. The final investment decision is expected later this year. Moreover, the project gains strong momentum after signing a series of binding long-term sales agreements with major global buyers including Glencore, Geera, and Petronas.
The deal supports Mubadala Energy’s global growth strategy. It is its largest investment in the US energy market. Therefore, it consolidates its position within the value chain of the gas sector. The deal is also consistent with the company’s commitment to playing a pivotal role in the energy sector transformation. This is achieved through investments in low-emission energy sources.
Success of international growth strategy
Mansour Mohammed Al Hamed, Managing Director and CEO of Mubadala Energy, said that this announcement is a clear indicator of the success of the company’s international growth strategy on the ground. This integrated and responsible approach followed by “Katoros” is in line with Mubadala Energy’s plans to invest across the gas sector value chain in major global energy centers. This enables them to play a proactive role in balancing energy security priorities with energy transition requirements. In addition, it creates long-term value for their owner. He also stressed their aspiration to continue working alongside the “Catoros” and “Kimridge” teams.
Ben Dale, Managing Partner at Kimridge, stressed that Mubadala Energy’s investment is a strong supporter of the Caturus strategy. Work will be done to establish the only independent integrated natural gas entity in the United States. The aim is to lead innovation efforts in the liquefied natural gas sector. Furthermore, it aims to lead through a strong and responsible platform supporting the future of the low-emission energy sector.
As part of the deal, Mubadala Energy appointed two Emirati representatives to the board of directors of Caturus. The representatives are Adnan Bouftim, Chief Operating Officer, and Khaled Al Tamimi, Senior Vice President of Non-Operating Assets at Mubadala Energy. These appointments reflect the company’s practical, value-based approach to asset management, partnerships, and governance.
The deal was completed after obtaining approval for the voluntary file submitted to the US Government’s Foreign Investment Commission in the United States.
