Mubadala Energy has completed its first major investment in the United States, acquiring a 24.1% equity stake in SoTex HoldCo, now rebranded as Caturus, in partnership with Kimmeridge, the energy-focused asset manager.
Caturus combines upstream gas production under Caturus Energy (formerly Kimmeridge Texas Gas) with Commonwealth LNG, a liquefied natural gas export terminal planned near Cameron, Louisiana, with a capacity of approximately 9.3–9.5 million tonnes per annum. The platform currently produces 600 million cubic feet equivalent per day (MMcfe/d) and aims to reach 1 billion by 2029.
Commonwealth LNG has appointed Technip Energies as the engineering, procurement and construction (EPC) provider and is working toward a final investment decision later this year. The project has secured long-term offtake agreements with Glencore, JERA, and PETRONAS.
This deal marks Mubadala Energy’s entry into the US gas and LNG sector and aligns with its strategy to expand across the gas value chain, support the energy transition, and build long-term value. The investment follows clearance from the US Committee on Foreign Investment (CFIUS).
Mubadala has appointed two board members to Caturus: Adnan Bu Fateem, its COO, and Khaled Al Tamimi, Senior Vice President for Non‑Operated Assets.
Analysts estimate that US LNG could supply up to one-third of global demand by 2050. The Caturus structure and Mubadala’s investment signal a shift toward integrated gas production and export models, a strategy historically avoided in the US due to the high cost of liquefaction infrastructure.
This agreement adds to a surge of Gulf investment into US energy, and positions Mubadala among key players seeking to integrate gas value chains and capitalise on rising LNG demand.
