Exposure to the US energy market for Mubadala Petroleum and Petrochemicals has increased significantly since the integration of its parent body, Abu Dhabi’s state-owned investment body Mubadala Investment Company, with the Abu Dhabi Investment Council (ADIC), the energy investment firm’s CEO has said.

Mubadala and ADIC were made to merge into a single entity as per a royal decree issued by UAE President Sheikh Khalifa bin Zayed al-Nahyan on 21 March.

“After the integration with ADIC, our exposure to the US [energy] market has grown to $80bn,” Musabbeh al-Kaabi, CEO of Mubadala Petroleum, said at the Abu Dhabi National Oil Company’s (Adnoc) Downstream Investment Forum in Abu Dhabi.

In the petrochemicals sector, Mubadala has previously announced working on projects amounting to $5bn to $6bn, including a couple of projects along the US Gulf coast petrochemical zone that will raise the company’s strategic portfolio.

The first one is the acquisition of the Geismar olefins complex in Louisiana state by Mubadala-owned Nova, with an investment of $2.1bn in a plant producing 885,000 tonnes of ethylene per annum.

Another project is related to extending Mubadala’s partnership with French energy giant Total in a proposed joint venture involving Nova Chemicals and majority Mubadala-owned Borealis for an integrated project along the Gulf Coast of Texas.