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NextDecade secures $3 billion funding from TotalEnergies, GIP for Rio Grande LNG project

NextDecade secures $3 billion funding from TotalEnergies, GIP for Rio Grande LNG project

Reuters9 hours ago
Aug 11 (Reuters) - U.S. liquefied natural gas developer NextDecade (NEXT.O), opens new tab said on Monday it will receive up to $3 billion in equity commitments from TotalEnergies (TTEF.PA), opens new tab and Global Infrastructure Partners (GIP) to finance the fourth liquefaction train at its Rio Grande LNG export project in Texas.
TotalEnergies will contribute about $300 million for a 10% stake in the Train 4 joint venture, while a GIP affiliate will invest up to $1.5 billion for a 50% interest, which will fall to 30% once certain return thresholds are met.
NextDecade, through its subsidiaries, will provide up to $1.2 billion for a 40% interest, which could rise to 60% after GIP reaches agreed returns.
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