Abu Dhabi Investment Advances $13 Billion US LNG Plant (2)

Kimmeridge Energy Management Co. approved the construction of a $13 billion liquefied natural gas export plant on the US Gulf Coast after securing investment from an Abu Dhabi sovereign fund.

Mubadala Energy will provide equity financing for the Commonwealth LNG project in Louisiana, according to a statement from Kimmeridge’s company Caturus. The facility received a final investment decision that involves $9.75 billion in project financing, putting it on track to move forward with construction and start operations by 2030.

Other investors include EOC Partners, BlackRock Inc., Canadian Pension Plan Investment Board and a fund managed by Ares.

Mubadala Energy’s investment ...