Latest news with #MubadalaEnergy
Zawya
21-05-2025
- Business
- Zawya
Mubadala Energy ready to sell south Andaman gas to Indonesia if price is right
TANGERANG, Indonesia - Mubadala Energy would be more than happy to supply all the natural gas to be produced from its south Andaman block for Indonesia's domestic consumption at the right price, a senior executive said on Wednesday. Indonesia wants gas producers to increase supplies to domestic users as demand is rising. However, producers mostly prioritise exports of liquefied natural gas and have asked the government to review price caps on domestic gas, arguing that it does not make good business sense when spot prices for LNG are so much higher. Abdulla Bu Ali, president director of Mubadala Energy Indonesia, told reporters on the sidelines of the Indonesia Petroleum Association conference, that the company was looking at both exports and selling to Indonesia. He said domestic gas prices had to be competitive but declined to give a specific number. The United Arab Emirates explorer expects to start gas production at Tangkulo-1 in its south Andaman block in late 2028. On Tuesday, it signed an initial agreement to supply gas to state fertiliser maker Pupuk Indonesia. Indonesia caps domestic gas prices for certain industries and power plants at $6.50-$7 per million British thermal units (mmBtu). Spot LNG prices in Asia were at $11.75 per mmBtu last week.
Reuters
21-05-2025
- Business
- Reuters
Mubadala Energy ready to sell south Andaman gas to Indonesia if price is right
TANGERANG, Indonesia, May 21 (Reuters) - Mubadala Energy would be more than happy to supply all the natural gas to be produced from its south Andaman block for Indonesia's domestic consumption at the right price, a senior executive said on Wednesday. Indonesia wants gas producers to increase supplies to domestic users as demand is rising. However, producers mostly prioritise exports of liquefied natural gas and have asked the government to review price caps on domestic gas, arguing that it does not make good business sense when spot prices for LNG are so much higher. Abdulla Bu Ali, president director of Mubadala Energy Indonesia, told reporters on the sidelines of the Indonesia Petroleum Association conference, that the company was looking at both exports and selling to Indonesia. He said domestic gas prices had to be competitive but declined to give a specific number. The United Arab Emirates explorer expects to start gas production at Tangkulo-1 in its south Andaman block in late 2028. On Tuesday, it signed an initial agreement to supply gas to state fertiliser maker Pupuk Indonesia. Indonesia caps domestic gas prices for certain industries and power plants at $6.50-$7 per million British thermal units (mmBtu). Spot LNG prices in Asia were at $11.75 per mmBtu last week.
Asharq Al-Awsat
16-05-2025
- Business
- Asharq Al-Awsat
ADNOC Says UAE, US to Invest $440 billion in Energy Sector through 2035
The United States and the United Arab Emirates plan to spend a total of $440 billion in the energy sector over the next decade, Sultan al-Jaber, the UAE oil company ADNOC, said on Friday. As part of a tour of Gulf countries, US President Donald Trump announced deals with the UAE totalling over $200 billion. Already in March, when senior UAE officials met Trump, the UAE had committed to a 10-year, $1.4 trillion investment framework in the United States to deepen reciprocal ties, Reuters reported. The framework will "substantially increase the UAE's existing investments in the US economy" in AI infrastructure, semiconductors, energy, and manufacturing, the White House said in a statement on Friday. XRG, the international investment arm of ADNOC, is hunting for a significant investment in US natural gas. ADNOC's stakes in NextDecade's Rio Grande LNG export facility and a planned ExxonMobil hydrogen plant - both in Texas - were transferred to XRG, which was set up last year and which ADNOC has said has $80 billion in assets. It has a mandate to pursue global deals in chemicals, natural gas and renewables. Mubadala Energy, an arm of Abu Dhabi's second largest sovereign wealth fund, last month signed a deal with US firm Kimmeridge that will give it stakes in US gas assets.
Zawya
16-05-2025
- Business
- Zawya
ADNOC chief says UAE and US to invest $440bln in energy sector through 2035
DUBAI - The United States and the United Arab Emirates plan to spend a total of $440 billion in the energy sector over the next decade, Sultan al-Jaber, the UAE oil company ADNOC, said on Friday. As part of a tour of Gulf countries that has placed the focus on huge business deals, U.S. President Donald Trump announced deals with the UAE totalling over $200 billion. Already in March, when senior UAE officials met Trump, the UAE had committed to a 10-year, $1.4 trillion investment framework in the United States to deepen reciprocal ties. The framework will "substantially increase the UAE's existing investments in the U.S. economy" in AI infrastructure, semiconductors, energy, and manufacturing, the White House said in a statement on Friday. During Trump's Gulf visit this week, a panel at the UAE-U.S. economic dialogue said the United States was expected to invest $60 billion in UAE energy projects. XRG, the international investment arm of ADNOC, is hunting for a significant investment in U.S. natural gas. ADNOC's stakes in NextDecade's Rio Grande LNG export facility and a planned ExxonMobil hydrogen plant - both in Texas - were transferred to XRG, which was set up last year and which ADNOC has said has $80 billion in assets. It has a mandate to pursue global deals in chemicals, natural gas and renewables. Mubadala Energy, an arm of Abu Dhabi's second largest sovereign wealth fund, last month signed a deal with U.S. firm Kimmeridge that will give it stakes in U.S. gas assets. (Reporting by Ahmed Elimam and Yousef Saba; Writing by Tala Ramadan; Editing by Michael Georgy, Mark Potter and Barbara Lewis)
Associated Press
14-05-2025
- Business
- Associated Press
Kimmeridge Expands Global Footprint with Launch of Abu Dhabi Office and Signing of MOU with Mubadala Energy
Office underscores Kimmeridge's commitment to the Middle East, strengthening the firm's role as a gateway for global energy investments at the front end of the cost curve The announcement follows recent agreement with Mubadala Energy to acquire a minority stake in Kimmeridge's SoTex HoldCo LLC, Mubadala Energy's first major energy investment in the US MOU paves the way for further collaboration to identify and pursue natural gas and LNG investments Fayçal Benjelloun appointed as Managing Director and Senior Executive Officer ABU DHABI, UAE and NEW YORK, May 14, 2025 /PRNewswire/ -- Kimmeridge, an alternative asset manager focused on the energy sector, headquartered in New York, with offices in Denver and London, today announced its strategic expansion into the Middle East with the launch of an office in ADGM, the international financial center of Abu Dhabi the UAE's capital. The opening underscores Kimmeridge's commitment to the Middle East and strengthens the firm's role as a gateway for energy investments between the US, the UAE and the wider region. The ADGM office builds on a legacy of relationships with regional institutions and partners, and is also expected to host investment teams as Kimmeridge explores opportunities in the Middle East and Asia. Coinciding with the celebration in ADGM, Mansoor Mohamed Al Hamed, Managing Director and CEO of Mubadala Energy, and Ben Dell, Managing Partner of Kimmeridge, signed a memorandum of understanding (MOU), paving the way for further collaboration on natural gas and LNG investments. The MOU follows the recent agreement to sell a minority stake in Kimmeridge's SoTex HoldCo LLC, to Mubadala Energy – marking the platform's first major investment in the US energy market. Benjamin Dell, Co-Founder and Managing Partner of Kimmeridge, said: 'The opening of our UAE office and expanding partnership with Mubadala Energy are natural steps as we build on strong relationships in the region and capitalize on a host of compelling opportunities across the evolving energy ecosystem, for the benefit of all stakeholders. We are privileged to be part of the region's economic growth and transformation story – and to be able to contribute to the UAE's national energy strategy. We look forward to hosting our esteemed friends and partners at ADGM.' Commenting about the MOU, Mansoor Mohamed Al Hamed, Managing Director and CEO of Mubadala Energy, said: 'We are pleased to sign this MOU which provides the framework for future collaboration following our recent U.S. partnership announcement. Kimmeridge shares our ambition for accelerated growth across the gas value chain, and as an international energy company we are excited to strengthen this collaboration by driving new, strategic opportunities.' Kimmeridge's team in the Middle East will be headed by Fayçal Benjelloun, Managing Director & Head of Middle East, who will also be acting as Senior Executive Officer. Mr. Benjelloun joins from Mubadala Capital, bringing extensive experience across the Middle East, Africa, and Asia, with a strong network and track record in business development and investor relations. Fayçal Benjelloun added: 'Our new ADGM office connects Kimmeridge's operations in the US and the Middle East, serving as a strategic hub to meet the growing regional demand for high-performing energy assets. Kimmeridge is at the forefront of both conventional energy and the energy transition—key priorities for regional investors and governments that are taking significant steps toward achieving their net zero targets.' Kimmeridge's newly established office will be based in ADGM's international financial center. The firm has received a category 4 license from the Financial Services Regulatory Authority (FSRA) of ADGM for its branch office in Abu Dhabi to advise and arrange transactions and investments. Arvind Ramamurthy, Chief of Market Development at ADGM, said: 'ADGM is pleased to welcome Kimmeridge to one of the world's largest international financial centres and the region's fastest-growing asset management hub. With robust regulations for alternative investment entities, a comprehensive ecosystem for asset management and a vibrant community based in the heart of the 'Capital of Capital,' Abu Dhabi, ADGM provides an ideal environment for Kimmeridge's regional expansion. We look forward to the offerings they will bring to their partners and investors in Abu Dhabi and the region.' About Kimmeridge Founded in 2012, with its principal office in New York, USA, as well as Denver, London and Abu Dhabi, Kimmeridge is an alternative asset manager focused exclusively on the energy sector. It is a registered investment adviser under the regulation and supervision of the Securities and Exchange Commission (the 'SEC') in the US since 2012. The firm is differentiated by its deep technical knowledge, proprietary research and data gathering. Kimmeridge is committed to its core values of integrity, innovation and teamwork and aims to deliver best-in-class performance. Kimmeridge's activities center on the oil and gas space, associated infrastructure and low carbon solutions. The firm invests in public and private companies, including through direct ownership of assets, and employs an in-house operations team in Denver through its wholly owned subsidiary, Kimmeridge Operations, LLC ('Kimmeridge Operations'). Since inception, Kimmeridge has raised over $6 billion in institutional investor commitments. Further information: Press contacts: Kimmeridge US Daniel Yunger / Hallie Wolff / Emma Cloyd [email protected] Kimmeridge Middle East Gregor Riemann / Tina Khoury / Ali Kurdieh [email protected] View original content: SOURCE Kimmeridge
