Mubadala Energy Joins $13 Billion Commonwealth LNG Project In US

2026-05-15 04:15:59

(MENAFN- Khaleej Times) Mubadala Energy, Kimmeridge and CPP Investments will invest in the Commonwealth LNG export facility in the US state of Louisiana, paving the way for the construction of a 9.5 million tonnes per annum liquefied natural gas project.

The project, developed by Caturus, secured $9.75 billion in project financing for the construction of the LNG export facility in Cameron Parish, Louisiana. The total commitments for the transaction reached $21.25 billion, backed by strong interest from equity and debt investors.

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The Commonwealth LNG project is part of Caturus' strategy to build an integrated“wellhead-to-water” natural gas and LNG business in the US. The company said the first phase of the project is expected to generate more than $3 billion in annual export revenue once operations begin in 2030.

Ben Dell, managing partner of Kimmeridge and chairman of Commonwealth LNG, said the FID marked the culmination of years of planning and partnership development.

“This landmark occasion, in parallel with continued growth of Caturus' upstream platform, is the culmination of years of strategic planning, strong partnerships and commitment to delivering a fully integrated 'wellhead-to-water' project,” Dell said.

Long-term LNG supply agreements have already been secured with a diversified group of global counterparties, including EQT, Glencore, Mercuria, PETRONAS and Aramco Trading.

Mubadala Energy, which already owns a 24.1 per cent stake in the Caturus platform that includes Commonwealth LNG and upstream gas operations, is also participating as an equity investor in the financing.

Mansoor Mohamed Al Hamed, managing director and chief executive of Mubadala Energy, said the project supports the company's international growth strategy and expands its exposure across the gas value chain.

“This FID announcement is a major milestone for Commonwealth LNG and is a critical step in realizing its strategy for a fully integrated 'wellhead-to-water' operation,” Al Hamed said.

“It adds to our existing global gas-weighted portfolio and expands our exposure across the full gas value chain – an important driver of our longstanding growth plans.”

CPP Investments will contribute $1.2 billion in financing, increasing its total stake in the Caturus platform to 31 per cent, including previous investments.

Bill Rogers, managing director and head of sustainable energies at CPP Investments, said the integrated approach across natural gas production and LNG exports positions the company well to support energy reliability and resilience.

Other financial partners involved in the project include BlackRock, Ares Management and EOC Partners.

Caturus previously authorised Technip Energies, the engineering, procurement and construction partner for Commonwealth LNG, to order major long-lead equipment for the facility.

The LNG export terminal will feature six Baker Hughes mixed-refrigerant compressors powered by LM9000 gas turbines, six Honeywell main cryogenic heat exchangers and four Titan 350 gas turbine-generators from Solar Turbines. The facility will also be capable of loading LNG carriers with capacities of up to 216,000 cubic metres.

Caturus chief executive David Lawler said global gas demand continues to rise and the company is positioning itself as a leading independent integrated natural gas producer and exporter.

Ahead of the FID, Caturus also expanded its upstream portfolio through the acquisition of Galvan Ranch natural gas assets from SM Energy. The company said it is now producing more than one billion cubic feet equivalent per day on a net basis, ranking it among the top 10 private US natural gas-focused producers.