Mubadala Energy, the Abu Dhabi-headquartered international energy company, has finalised its first significant investment in the United States energy market, acquiring a 24.1% equity stake in Caturus through a strategic partnership with Kimmeridge, an energy-focused alternative asset manager.
The deal, which follows approval from the US Committee on Foreign Investment (CFIUS), marks a major step in Mubadala Energy’s strategy to expand its global gas portfolio and reinforce its role in the energy transition.
Caturus, the rebranded SoTex HoldCo, is building what it describes as the leading integrated natural gas and LNG export platform in the US. The platform combines upstream operations under Caturus Energy, formerly Kimmeridge Texas Gas, with Commonwealth LNG, a planned 9.5 million tonnes per annum liquefied natural gas export terminal near Cameron, Louisiana.
The LNG terminal is moving forward with substantial momentum. Commonwealth LNG has appointed Technip Energies to deliver engineering, procurement, and construction (EPC) services for the facility. A final investment decision is expected later this year, following a series of long-term LNG offtake agreements with major buyers including Glencore, JERA, and Malaysia’s PETRONAS.
Mansoor Mohammed Al Hamed, Managing Director and CEO of Mubadala Energy, said the move was part of a deliberate push into key energy hubs.
“Today’s announcement is further evidence of our international growth strategy in action,” he said. “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.”
The partnership also brings Mubadala Energy into closer collaboration with Kimmeridge, which has been developing Caturus as the only fully integrated natural gas independent of its kind.
Ben Dell, Managing Partner at Kimmeridge, called Mubadala Energy’s investment “a strong endorsement” of Caturus’ strategy.
“Together, we will drive innovation across the LNG industry through a powerful and responsible platform, contributing to a cleaner, more sustainable energy future,” he said.
As part of the agreement, Mubadala Energy will have two representatives on the Caturus Board of Managers: Adnan Bu Fateem, the company’s Chief Operating Officer, and Khaled Al Tamimi, Senior Vice President for Non-Operated Assets. The appointments signal a hands-on approach to governance and strategic direction.
Bu Fateem said Mubadala Energy’s model was to create value through “active stewardship,” ensuring commercial, operational, and sustainability goals are met.
The investment positions Mubadala Energy to play a more prominent role in the US LNG export sector, which has grown rapidly in recent years amid rising global demand for cleaner-burning fuels. It also aligns with Abu Dhabi’s wider strategy of diversifying its energy portfolio, with a particular focus on lower-carbon sources that can contribute to both energy security and climate goals.
With this transaction, Mubadala Energy is poised to help shape the future of LNG infrastructure in the United States, while extending its influence across the global gas value chain.
