Mubadala Energy has joined Kimmeridge and CPP Investments as an equity participant in the Commonwealth LNG export facility in Cameron Parish, Louisiana, following a positive final investment decision on the 9.5 million tonnes per annum project. Developed by Caturus, the facility secured USD 9.75 billion in project financing, with total transaction commitments reaching USD 21.25 billion.
Mubadala Energy, which already holds a 24.1% stake in the Caturus platform – encompassing Commonwealth LNG and upstream gas operations – deepened its position through the financing round. CPP Investments contributed USD 1.2 billion, bringing its total Caturus stake to 31%. Additional financial partners include BlackRock, Ares Management and EOC Partners.
Long-term supply agreements are in place with Glencore, Mercuria, PETRONAS and Aramco Trading, among others. First operations are targeted for 2030, with the first phase projected to generate over USD 3 billion in annual export revenue.
Gulf Economist Staff Writer