Mubadala Energy, Kimmeridge and CPP Investments greenlight $13bn Commonwealth LNG with $9.75bn financing

On May 15, 2026 Mubadala Energy, U.S. alternative asset manager Kimmeridge and Canada's CPP Investments announced a final investment decision (FID) for the Caturus Commonwealth LNG export facility in Cameron Parish, Louisiana, closing $9.75 billion of project financing for the roughly $13 billion, 9.5 million tonnes-per-annum plant. Per The National and the company releases, total capital commitments across equity and debt exceed $21.25 billion, with investors including Mubadala Energy (about a 24.1% stake), CPP Investments (contributing about $1.2 billion to raise its stake to roughly 31%), EOC Partners, BlackRock-managed funds and Ares Infrastructure Opportunities. Operations are slated for 2030, with Phase 1 expected to generate more than $3 billion in annual export revenue; long-term offtake agreements were reported with EQT, Glencore, Mercuria, Petronas and Aramco Trading.

Mubadala Energy CEO Mansoor Mohamed Al Hamed called the FID 'a major milestone' and 'a critical step in realising its strategy for a fully integrated wellhead-to-water operation.' The deal channels Abu Dhabi sovereign capital into U.S. Gulf Coast LNG export infrastructure, deepening Gulf-U.S. energy ties and adding committed liquefaction capacity to the global market for end-of-decade delivery. Semafor's account framed the transaction as a sizeable Abu Dhabi bet on U.S. energy exports.

The FID is a financing-and-construction commitment; the facility is not yet operational, and delivery economics depend on 2030-era LNG market conditions.