NextDecade Announces Bank Commitments and Updated FID Timing for Rio Grande LNG
06.30.2023 By TankTerminals.com News - NEWS

June 30, 2023 [businesswire]- NextDecade Corporation (NextDecade) (NASDAQ: NEXT) announced today that Rio Grande LNG (RGLNG) has received binding commitments from a syndicate of lenders in an amount sufficient, together with expected project equity funding, to support a positive final investment decision (FID) of the first three liquefaction trains (Phase 1) at the Rio Grande LNG export facility in Brownsville, Texas. The lender group includes the world’s leading Asian, European, Middle Eastern and North American project finance banks.

 

NextDecade has sold 16.2 million tonnes per annum (MTPA) of LNG from Phase 1, or 92% of nameplate capacity, under long-term sale and purchase agreements, sufficient to support the binding debt commitments from these leading lenders and the near-term FID of the 17.61 MTPA Phase 1.

Due in part to the observance of various holidays around the world, including the July 4th holiday, NextDecade is now targeting FID on Phase 1 in early July with FIDs of its remaining trains to follow thereafter.

About NextDecade Corporation

NextDecade Corporation is an energy company accelerating the path to a net-zero future. Leading innovation in more sustainable LNG and carbon capture solutions, NextDecade is committed to providing the world access to cleaner energy.

Through our wholly owned subsidiaries Rio Grande LNG and NEXT Carbon Solutions, we are developing a 27 MTPA LNG export facility in South Texas along with one of the largest carbon capture and storage projects in North America. We are also working with third-party customers around the world to deploy our proprietary processes to lower the cost of carbon capture and storage and reduce CO2 emissions at their industrial-scale facilities.

NextDecade’s common stock is listed on the Nasdaq Stock Market under the symbol “NEXT.” NextDecade is headquartered in Houston, Texas.

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