Caturus, a U.S.-based company, has given the green light to build a massive LNG facility in Louisiana after securing $9.75 billion in financing, Mubadala Energy said.
Mubadala Energy, an arm of Abu Dhabi's sovereign wealth fund, holds a 24.1% stake in Caturus and participated in the equity financing.
Energy investor Kimmeridge and Canada Pension Plan Investment Board (CPP Investments) also provided funding, with CPP contributing $1.2 billion and raising its stake to 31%.
The export facility, Commonwealth LNG, will have a capacity of 9.5 million metric tons per year. Caturus has secured long-term supply deals with EQT, Glencore, Mercuria, Petronas, and Saudi Aramco.
Operations are expected to start in 2030. The U.S. is the world's largest LNG exporter, and global LNG prices remain elevated due to the Middle East crisis.
Commonwealth LNG is projected to generate about $3 billion in annual export revenue once online.
