Oil & Gas

Abu Dhabi’s Mubadala Energy has made a significant move into the American energy market by acquiring a 24.1% stake in US-based Caturus, marking its first major investment in the country’s natural gas sector. The deal was completed in partnership with private equity firm Kimmeridge and involves Caturus, formerly known as SoTex HoldCo. This investment positions Mubadala Energy to play a key role in the development of an integrated US natural gas and liquefied natural gas (LNG) export platform.

Caturus is combining upstream operations under its subsidiary Caturus Energy — previously Kimmeridge Texas Gas — with Commonwealth LNG, a planned export terminal near Cameron, Louisiana. The terminal is expected to handle 9.5 million tonnes per annum, and engineering, procurement, and construction have been awarded to Technip Energies. Commonwealth LNG has already secured long-term binding offtake agreements with major global players including Glencore, JERA of Japan, and PETRONAS of Malaysia. A final investment decision is anticipated later this year.

Mubadala Energy CEO Mansoor Mohammed Al Hamed emphasized that this move is part of the company’s broader strategy to grow its international presence and expand across the gas value chain. He stated that the integrated and responsible approach of the Caturus platform aligns with Mubadala’s objectives to support global energy security and the transition to lower-emission fuels, while also generating long-term value for stakeholders.

The investment was seen by Kimmeridge managing partner Ben Dell as a “strong endorsement” of Caturus’ strategy to become a fully integrated independent natural gas company. Following the deal, Mubadala appointed Adnan Bu Fateem, COO, and Khaled Al Tamimi, SVP for Non-Operated Assets, to the Caturus board. Bu Fateem noted that Mubadala’s active investment approach will help shape the platform’s strategic direction to meet commercial, operational, and sustainability goals. The transaction was finalized after receiving clearance from the Committee on Foreign Investment in the United States (CFIUS).