On the heels of Woodside Energy Group’s $17 billion LNG plant announcement near Lake Charles, Kimmeridge Asset Management has entered into an agreement with Abu Dhabi sovereign wealth manager Mubadala Investment to help create an integrated, “wellhead-to-water” natural gas company. It is an ambitious goal that has eluded other energy industry players.
Texas-based SoTex owns Kimmeridge Texas Gas, a gas-field operator in the state’s Eagle Ford Shale region. SoTex also owns Commonwealth LNG, which is building a gas-liquefication and export plant near Cameron, La. The plant is expected to be operational by 2029. The Cameron plant is one of many under development along the Gulf Coast as investors bet on rising LNG demand worldwide.
For Kimmeridge, securing Mubadala’s backing has cemented Kimmeridge’s plan to turn SoTex into both a gas producer and LNG exporter. The current industry model, meanwhile, is and has been driven by being one or the other – a producer, or exporter.
But with the LNG market expanding in recent years, and maturing in ways we are only beginning to see, more energy companies have looked at combining gas production and export assets. This makes sense from a business efficiency and profitability perspective, as it reduces middle men and in theory, should enhance communication and coordination among the two specializations within the energy sector.
Speaking of bets, we’re betting on local real estate kicking in to the next level. Population growth, employment demand, and regional workplace and labor-force development are spurring economic development across nearly every sector of our lives – in housing, retail, services, manufacturing, storage and distribution, professional services, entertainment, you name it.
The spectrum of our property listings covers the gamut of the type of investment and operating opportunities that span the region.
For example, we have at 67.5-acre parcel of land for sale along US-90 East in Lake Charles that has light industrial zoning for a little over $1.5 million.
There are commercial lease properties available (1400 Market Street) in Walnut Grove, Southwest Louisiana’s premier Traditional Neighborhood Development (TND) that are near dining establishments.
We are also participating in a pair of Lake Charles listings by I-10 and Chennault International Airport, one of which is a 12-building business park on 8.4 acres with tenants in place and is located in an opportunity zone, while the other site is a 10.8-acre land listing that is ready for development for retail use, hospitality or industrial outdoor storage, or for build-to-suit occupancy by the buyer.
Southwest Louisiana is growing, and we have the real estate to support enduring regional growth.
Redd Properties LLC is an independent commercial real estate, multidisciplinary firm with expertise in mid-to-large,-scale projects and other developments, build-to-suit construction, project advisory and consulting services, brokerage and transaction management services.
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