Mubadala Energy, the upstream arm of Abu Dhabi state investor Mubadala, is joining compatriot Adnoc and its parent company in investing in US LNG. The firm announced on 10 April that it is purchasing a 24.1% interest in Kimmeridge’s SoTex HoldCo LLC (“SoTex”), which is developing an integrated wellhead-to-LNG gas system in the US.
SoTex owns two portfolio companies; Kimmeridge Texas Gas, which operates an unconventional gas production business in Texas’s Eagle Ford shale basin, and Commonwealth LNG, which plans to develop a 9.3mn t/y LNG export plant at the mouth of the Calcasieu Pass in Louisiana. Kimmeridge Texas Gas currently produces more than 500mn cfd and targets 1.5bn cfd through organic growth by 2031. Meanwhile Commonwealth LNG plans to take FID by year-end, with first offtake slated for 2029. (CONTINUED - 320 WORDS)
