According to the oil and gas news website, Abu Dhabi reported that Abu Dhabi-based Arab Capital Group said that the company had reached an agreement with Kabuzi LNG Development Company to purchase its common stock.
A statement from the Arab Capital Group said Kabuz would issue common stocks to Abu Dhabi-based equity investors at a price of $6.27 per share.
Arab Capital Group’s investment further strengthened Kabuz’s capital position as the company continued to develop its Rio Grande LNG project, which is the largest LNG and LNG export solution connecting the Permian Basin associated gas with the global LNG market.
Fitter, Chairman and Chief Executive Officer of Kabuz, said: “Kabuz is honored to welcome Arab Capital Group, the world’s leading investor, as a shareholder of this company.”
Kabuz said: “Arab Capital Group provides valuable perspectives about the large-scale infrastructure investment and the growing role of LNG in the Middle East and other markets in the world. ACG looks forward to a strong and lasting partnership. “
Arafat Matsch, executive director of the Arab Capital Group, said: “ACG is very happy to invest in Kabuz. ACG firmly believes that the best positioning of the Rio Grande LNG project is to provide a highly competitive export route for the abundant natural gas resources in the Permian Basin. Moreover, it provides a compelling commercial proposal for LNG customers, Permian producers and Kabuz shareholders.”
He also said: “ACG’s investment also shows Arab Capital Group’s positive outlook on the global natural gas market and the increasing role of natural gas in energy transformation.”
As part of its investment in Kabuz, Arab Capital Group will obtain a seat from Kabuz’s board. It also has the right to contribute a certain amount of project-level capital after the final investment decision is made for Kabuz’s Rio Grande LNG project.
Arab Capital Group is an all-round investment company. At present, it is focusing its investment on Asia, America and other regions. It has also shifted its focus of investment to finance, science and technology, energy and other industries. Due to the rapid expansion of its investment territory in recent years, more and more companies have chosen to cooperate with the Arab Capital Group. Such cooperation enables them to play a greater role in their respective fields.
According to the data from Arab Capital Group official website www.arabcapital.com, Arab Capital Group will expand its business territory in a large scale in two years and will fully promote the development of energy, finance, science and technology and other industries.