Energy swap is accomplished in an investment in the natural gas sector in the United States
Abu Dhabi, August 8 / WAM / Mubadala Energy Company confirmed the completion of the strategic investment deal that was announced last May for the American natural gas sector, through partnership with the company “Kimridge” specialized in managing alternative assets specialized in the energy sector.
The company “Sotix Holdco” has been renamed to become “Catherus”, in which it has a “energy swap”, a royal share of 24.1%, where “Cutorus” works to develop a leading and integrated platform for natural gas and export of natural natural gas in the United States, by combining two companies in its portfolio that includes “Cutorus Energy” and the company “Commonwealth for LNG”, and from Its production capacity is expected to be 9.5 million metric tons annually, and is scheduled to be established near the city of Cameron, Louisiana, USA.
The “Commonwealth of Natural Gas” company recently announced the signing of a contract with “Technip Enemz” to provide engineering, supply and construction services to build its global -level advanced facility, and the final investment decision is expected to be taken later this year, as the project scores a strong momentum after signing a series of binding agreements for long -term sale with major global buyers, including, “Glencor” and “Jira” And “Petronas”.
The deal supports the global growth strategy of “Mubadala Energy” company, as it is its largest investment in the American energy market and its position is established within the value chain of the gas sector, and the deal is consistent with the company’s commitment to playing a pivotal role in the process of transforming the energy sector through investments in low -emissions energy sources.
Mansour Mohamed Al Hamed, Managing Director and CEO of Mubadala Energy Company, said that this announcement is a clear indication of the success of implementing the company’s strategy for international growth on the ground, and this integrated and responsible approach followed by “Cathorus” with “Mubadala Energy” plans to invest through the value chain for the gas sector in the main global energy centers, which enables them to play a pre -emptive role to balance the priorities of energy security and requirements Energy, in addition to creating a long -term value to our royal destination, turned, confirming their aspiration to continue working alongside the teams of “Katurus” and “Kimridge”. Bin Del, the administrative partner of “Kimridge”, stressed that the “Energy Mobil” investment comes as a strong supporter of the “Cutorus” strategy, whereby the establishment of the only independent entity will be integrated for natural gas in the United States, to lead innovation efforts in the LNG through a strong and responsible platform, which supports the future of the low -emissions energy sector.
In the context of the deal, Mubadala Energy Company appointed Emirati representatives of the board of directors of the company “Katurus”, Adnan Boufatim, CEO of Operations, and Khaled Al -Tamimi, First Vice President of Non -operational Assets in “Mubadala Energy”, and these appointments reflect the practical approach based on finding the value of the company in the management of assets, partnerships and governance.
The completion of the deal came after obtaining the approval of the voluntary file submitted to the foreign investment committee in the United States of the US government.
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