Neil McMahon

Neil McMahon serves as Managing Partner at Kimmeridge and is responsible for developing Kimmeridge’s screening capabilities. Prior to this role, Dr. McMahon was a Senior Equity Research Analyst for the Global Integrated Oils at Sanford C. Bernstein, where he was ranked first three times in the Institutional Investor Research Survey. Dr. McMahon covered 18 of the largest integrated oils and refiners. He joined Sanford C. Bernstein in 2002. Before joining Sanford C. Bernstein, Dr. McMahon was an Engagement Manager at McKinsey, based in both Houston and London, where he had been since 1999. At McKinsey he mainly advised petroleum and electric power and natural gas clients and undertook proprietary research within McKinsey’s industry practices. Prior to McKinsey, Dr. McMahon worked in the oil industry as a geoscientist with British Petroleum (BP) and British Gas (BG) before moving into consulting with Arthur D. Little where he became a manager in its Global Energy Practice. Dr. McMahon is an advisor and Board observer to Common Energy, a community solar subscription platform and project manager. Dr. McMahon received an honors degree from The University of Edinburgh in Geology and Geophysics where he later undertook further research to complete a BP-sponsored Ph.D. in 1995. Dr. McMahon has published a number of technical and management-oriented papers in leading oil and gas industry journals.

Session Overview

Wednesday, 5 November

15:10

Natural Gas & LNG ICC Hall B 15:10 - 15:50

Financing gas and LNG: de-risking investment in a volatile landscape

Global natural gas and LNG projects face a complex convergence of financial, geopolitical, carbon intensity and market challenges that jeopardise their viability despite rising demand. Capital cost volatility, including tariffs on specialised materials, labour shortages and rising interest rates, make cost projections unreliable. Simultaneously, shifting government policies, export controls, and environmental regulations, including pauses on new export approvals, create ongoing uncertainty for investors.

To navigate current and future financing challenges, project developers will need to prioritise robust risk management, map clear long-term demand and profitability projections, cultivate secure, strong partnerships and contracts with buyers, and more. The U.S. market has seen renewed interest in debt lending and equity participation in LNG projects, with comparatively lower risk profiles and long-term returns.

However, critical questions remain: how can developers align financing strategies with diverse investor expectations? What makes a project attractive in today’s environment? And can project developers continue to secure equity partners to support timely FIDs and long-term resilience?

Attendee insights:

Explore the evolving capital landscape for natural gas and LNG, the strategies needed to de-risk investment, and how stakeholders are navigating the path to financing the next generation of supply projects.