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Mubadala Energy, a wholly owned subsidiary of Abu Dhabi sovereign wealth fund Mubadala Investment Company, has joined other investors, including US-based alternative asset manager Kimmeridge and Canada’s CPP Investments, in a $9.75 billion project financing for US energy firm Centaur’s Commonwealth LNG export facility in Louisiana.
The new LNG plant will have a production capacity of 9.5 million tonnes per annum.
Mubadala Energy, which holds a 24.1% stake in the Caturus platform, is also an equity participant in the project’s financing. Caturus can now begin construction of the facility, which has secured total commitments of $21.25 billion from equity and debt investors.
Phase 1 of the development is expected to generate more than $3 billion in annual export revenue when operations begin in 2030, according to the Abu Dhabi state-backed firm.
Long-term offtake agreements have been secured with a diversified group of global energy and industrial counterparties, including EQT, Glencore, Mercuria, Petronas and Aramco Trading.
Other financial participants in the project include EOC Partners, funds and accounts managed by BlackRock, and an Ares Infrastructure Opportunities fund.
(Writing by Bindu Rai, editing by Seban Scaria)
