SUNYA SCOOP

Asian buyers of LNG and ammonia

May 8, 2025

Ara Partners closes $800M+ inaugural infrastructure fund, surpassing target

Ara Infrastructure fund to back mid-market, low-carbon industrial platforms in North America and Europe.

  • Portfolio includes terminal ops, renewable fuels, and organics recycling

  • Led by George Yong and Teresa O’Flynn; supported by Rede Partners and Debevoise

  • AUM now totals ~$6.2B; fourth investment expected soon

Google backs Elementl Power to develop 10 GW of advanced nuclear by 2035

Strategic agreement targets siting and early-stage investment in next-gen U.S. nuclear projects.

  • Google to fund development of three 600+ MW nuclear projects

  • Elementl to work with utility/regulatory partners to fast-track deployment

  • Initiative supports grid reliability and long-term net-zero goals

  • Founded in 2022, Elementl is tech-agnostic and focused on clean baseload energy

AlphaGen to add 450 MW via PJM fast-track upgrades across NJ, MD, OH

PJM selects AlphaGen’s reliability-focused projects for interconnection priority.

  • 309 MW at Linden, 53 MW at Bergen, 56 MW at Keys, 30 MW at Lordstown

  • All upgrades completed by 2027–2030, using existing infrastructure

  • Adds capacity equivalent to 1 GW of offshore wind

  • Owned by ArcLight Capital, AlphaGen operates 11 GW+ of critical power assets

ExxonMobil to supply 250K tonnes/year low-carbon ammonia to Marubeni

Deal supports Japan’s decarbonization with fuel for Kobe Power Plant.

  • Ammonia sourced from Exxon’s Baytown facility (FID expected 2025)

  • Facility to produce 1M+ tonnes/year ammonia and 1B cf/day hydrogen

  • Supports industrial decarbonization in Japan/Southeast Asia

  • Marubeni to build global low-carbon ammonia supply chain

Commonwealth LNG inks 20-year deal with major Asian buyer for 1 mtpa offtake

Long-term SPA advances 9.5 mtpa Louisiana LNG project toward FID in 2025.

  • Buyer to receive 1 mtpa from Cameron, LA facility starting in 2029

  • Project expected to reach FID later this year; $11B in Phase 1 investment

  • $3.5B in projected annual export revenue; 2,000 construction jobs, 275 permanent roles

I Squared, MPLX, Enbridge acquire stakes in 2.5 Bcf/d Matterhorn Express Pipeline

Definitive deal shifts ownership of major Permian gas pipeline as WhiteWater remains operator.

  • WhiteWater retains 65% stake; MPLX and Enbridge each acquire 10%

  • Pipeline spans 510 miles from Waha to Wharton, Texas; in service since Nov 2024

  • Backed by I Squared and FIC; expected to close Q2 2025

Greenlake Energy forms new Permian-focused platform with $200M from NGP

Greenlake Energy II expands in Delaware Basin with recent strategic acquisition.

  • Led by Matt Gallagher (ex-Parsley); 60+ horizontal wells drilled to date

  • Backed by NGP, which has invested in energy since 1988

  • Focus: capital efficiency, technical innovation, and multi-year inventory growth

IOG Resources launches third vehicle to pursue non-op oil & gas deals

IOGR III backed by First Reserve; targets $50–$200M transactions in North America.

  • Portfolio producing 20+ Mboe/d; formed with legal support from Gibson Dunn

  • Continues successful strategy with JV partnerships and minority interests

Permian Resources reports record free cash flow, cuts capex, and acquires $608M in Delaware Basin assets

Q1 marks operational strength and strategic expansion amid disciplined capital management.

  • Q1 crude oil production: 175 MBbls/d; total production: 373.2 MBoe/d

  • Adjusted FCF hits $460M — highest in company history

  • Sold Barilla Draw gathering systems for $180M

  • Capex cut by $50M to $1.95B without reducing production guidance

  • Acquiring 13,320 net acres + 8,700 royalty acres for $608M; 12 MBoe/d added at ~$30 WTI breakeven

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.