Mubadala Makes Its American Gas Debut – Finally

Mubadala Makes Its American Gas Debut – Finally | OilPrice.com

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Breaking News:

ByJulianne Geiger– Apr 10, 2025, 10:15 AM CDT

Mubadala Investment Co just planted its flag in the U.S. natural gas scene, marking its first real foray into the Lower 48’s upstream and LNG ambitions. The Abu Dhabi wealth fund’s energy arm has snapped up a 24% stake in SoTex HoldCo LLC—operator of a shale gas field and backer of an LNG terminal in Louisiana. Translation: Mubadala’s not just dipping a toe; it’s cannonballing into America’s gas game.

The move comes hot on the heels of the UAE’s $1.4 trillion promise to the U.S.—a decade-long investment buffet covering everything from AI and semiconductors to energy and manufacturing. And this deal? It’s a nice appetizer.

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SoTex, a Kimmeridge portfolio company, runs Texas Gas, currently producing over 500 mmcfd with eyes on tripling that by 2031. It also controls Commonwealth LNG, which is hoping to greenlight a 9.3 mtpa export terminal later this year. With U.S. LNG demand booming and Gulf Coast terminals multiplying like rabbits, Mubadala clearly wants a seat at the export table.

Meanwhile, ADNOC—Mubadala’s brawnier cousin—is prowling the U.S. gas patch too. It recently took a bite of NextDecade’s Rio Grande LNG and is sniffing around Exxon’s hydrogen projects. ADNOC even floated buying Mubadala’s entire energy portfolio (because why not keep it in the family?), though those $10 billion talks are currently on Ramadan pause.

Mubadala has $302 billion in assets under management, while Mubadala Energy has a portfolio of operated and non-operated assets in 11 countries. Mubadala Energy’s primary geographic focus is on the Middle East and North Africa, Russia, and Southeast Asia, with a mix of almost 69% gas, producing over 370,000 boepd.

The broader message? The UAE’s state-backed energy titans are shifting from regional dominance to global dealmaking. And U.S. gas is looking mighty tasty to them.

Between Mubadala’s latest play and ADNOC’s $80B XRG vehicle, the Emiratis aren’t just showing up—they’re rewriting the guest list.

By Julianne Geiger for Oilprice.com

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