Mubadala Energy, a fully owned subsidiary of Mubadala Investment Company, has partnered with investors including Kimmeridge and CPP Investments in a USD9.75B project financing deal for Commonwealth LNG, a liquefied natural gas export facility being developed by US energy company Centaur in Louisiana.
The upcoming LNG facility is designed to produce 9.5 million tonnes annually.
Holding a 24.1 per cent interest in the Caturus platform, Mubadala Energy is also participating as an equity investor in the financing arrangement. The funding enables Caturus to move ahead with construction after securing total equity and debt commitments worth USD21.25B.
The first phase of the project is projected to deliver more than USD3B in annual export revenues once commercial operations commence in 2030, the Abu Dhabi-backed company said.
The development has already secured long-term offtake agreements with a broad mix of international energy and industrial firms, including EQT, Glencore, Mercuria, Petronas and Aramco Trading.
Additional investors involved in the financing include EOC Partners, investment funds managed by BlackRock, and an infrastructure opportunities fund operated by Ares Management.
