14
COVER STORY
AUGUST 2019 oilandgasmiddleeast.com
to fund projects managed by our portfolio
companies are delivered on time and
within budget. As an active investor, we
are committed to the growth of our busi-
nesses through fit-for-future investments
and commercially attractive projects sup-
porting increasing global energy demand.
Our investment decisions are based on
a few fundamental principles: creating
long-lasting value for our shareholder,
supporting the UAE’s economic growth
and promoting responsible environmen-
tal and safety stewardship.
Looking forward, we want to continue
cementing our position as an engaged
investor in best-in-class assets, driving
synergies across the value chain. We will
do this by continuing to partner with and
invest in leading industry players with
a wealth of industry knowledge, subject
matter expertise and leading market
position in their relevant areas of experi-
ence.
What are the challenges associated
with working internationally as a UAE-
based investment company?
Mubadala ranks among the top 15 sover-
eign wealth funds in the world. We are
proud to play a part in further enhancing
our country’s competitive position glob-
ally. The global portfolio of our petroleum
and petrochemicals business spans the
oil and gas value chain with operations in
over 30 countries.
I am proud of the accomplishments we
have achieved through the portfolio that
sits within Mubadala’s petroleum & petro-
chemicals business, which has developed
over the two years since its establishment.
I am also confident in Mubadala’s overall
global growth, and pleased to be part of
this expansion as we continue to look for
prominent and profitable investment op-
portunities.
Furthermore, Mubadala has built excel-
lent partnerships with leading industrial
players and continues to build its track
record as a responsible and engaged global
investor, tangible proof of which is the
opening in recent years of our interna-
tional offices in New York, San Francisco,
Rio de Janeiro and Moscow.Gas seems to be a key focus area —
Mubadala Petroleum has snapped up a
40% stake in an offshore gas project in
Thailand and picked up a 20% inter-
est in the Nour concession from Eni.
How does gas play into your long-term
strategy?
Yes, we have made a strategic decision
to favour investments in the gas sector.
Last year alone, we witnessed an increase
in demand for natural gas by 4.6%. The
International Energy Agency is forecast-
ing an average of 1.6% increase per year
in global gas demand going forward.Gas is now considered a crucial energy
resource, and trade in gas has quadru-
pled over the past two decades thanks
to burgeoning demand and the ability to
transport it in refrigerated form, as lique-
fied natural gas (LNG).
We firmly believe in the investment
potential of this resource, particularly in
South and East Asian economies such as
Pakistan and Indonesia. Our presence in
Indonesia through our exploration and
production business Mubadala Petro-
leum (MP) spans over a decade, where
we are an active operator and partner in“WE ARE FOCUSING OUR NEXT INVESTMENTS
ON ASSETS THAT WILL REMAIN TIMELY AND
RELEVANT ACROSS THE ENERGY SPECTRUM AND
AMIDST AN EVOLVING ENERGY SECTOR.”