Mubadala looks to boost US investment, CEO says
The company is a key backer of Commonwealth LNG, the first new export terminal to have reached a final investment decision during Trump’s second term.
Mubadala Energy, a leading Gulf-based investor in global oil and gas projects, aims to expand its presence in the United States, according to its CEO Adnan Bu Fateem. The company, a major supporter of the Commonwealth LNG, the initial new export terminal to secure a final investment decision during US President Donald Trump's second term, is actively seeking additional US projects, Fateem stated to Semafor.
Fateem emphasized, "If you're an oil company and want to grow your business internationally, you can’t exclude the US." The report from Semafor's Riyadh bureau chief notes that Gulf energy companies are relying more on their global portfolios for stability as the region deals with increasing security risks and expenses. NESR CEO Sherif Foda disclosed to Semafor that the company now maintains $150 million in reserve equipment for its Gulf projects, three times the usual amount, a significant financial burden that is expected to persist even if the ongoing conflict eases.
Foda commented, "That's the new mode of operation. Anyone who says it's going back to normal is dreaming."
Written by urgent.news from Semafor's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
