Latest news with #RioGrandeLNG
Business Journals
29-05-2025
- Business
- Business Journals
NextDecade makes first deal in next Rio Grande LNG train
NextDecade has been marketing Train 4 of Rio Grande LNG in Brownsville, but after finalizing key deals last month, it has moved on to the next stage.
Business Wire
29-05-2025
- Business
- Business Wire
NextDecade Announces 2.0 MTPA LNG Sale and Purchase Agreement with JERA from Rio Grande LNG Train 5
HOUSTON--(BUSINESS WIRE)--NextDecade Corporation (NextDecade or the Company) (NASDAQ: NEXT) announced today that it has executed a 20-year liquefied natural gas (LNG) sale and purchase agreement (SPA) with JERA for offtake from Train 5 at the Rio Grande LNG Facility. Under the terms of the SPA, JERA will purchase 2.0 million tonnes per annum (MTPA) of LNG for 20 years on a free on board basis at a price indexed to Henry Hub, subject to a positive Final Investment Decision (FID) on Train 5. 'We are pleased to announce JERA, the largest power generator in Japan and a long-established LNG market leader, as a customer for Rio Grande LNG Train 5,' said Matt Schatzman, NextDecade's Chairman and Chief Executive Officer. 'We have seen strong commercial momentum this year for Rio Grande LNG, which is helping us commercialize Train 5 toward a positive FID.' Achieving a positive FID on Train 5 will be subject to, among other things, entering into appropriate commercial arrangements, entering into an engineering, procurement, and construction agreement, and obtaining adequate financing to construct Train 5 and related infrastructure. About NextDecade Corporation NextDecade is committed to providing the world access to reliable, lower carbon energy. We are focused on delivering secure, low-cost, and sustainable energy solutions through the safe and efficient development and operation of natural gas liquefaction and carbon capture and storage infrastructure. Through our subsidiaries, we are developing and constructing the Rio Grande LNG natural gas liquefaction and export facility near Brownsville, Texas, with approximately 48 MTPA of potential liquefaction capacity currently under construction or in development. We are also developing a potential carbon capture and storage project at the facility that is expected to make meaningful impacts toward a lower carbon future. NextDecade's common stock is listed on the Nasdaq Stock Market under the symbol 'NEXT.' NextDecade is headquartered in Houston, Texas. For more information, please visit Forward-Looking Statements This press release contains forward-looking statements within the meaning of U.S. federal securities laws. The words 'anticipate,' 'contemplate,' 'estimate,' 'expect,' 'project,' 'plan,' 'intend,' 'believe,' 'may,' 'might,' 'will,' 'would,' 'could,' 'should,' 'can have,' 'likely,' 'continue,' 'design,' 'assume,' 'budget,' 'guidance,' 'forecast,' and "target," and other words and terms of similar expressions are intended to identify forward-looking statements, and these statements may relate to the business of NextDecade and its subsidiaries. These statements have been based on assumptions and analysis made by NextDecade in light of current expectations, perceptions of historical trends, current conditions and projections about future events and trends and involve a number of known and unknown risks, which may cause actual results to differ materially from expectations expressed or implied in the forward-looking statements. Although NextDecade believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that the expectations will prove to be correct. NextDecade's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in NextDecade's periodic reports that are filed with and available from the Securities and Exchange Commission. The taking of a final investment decision on Trains 4 and 5 at the Rio Grande LNG Facility is subject to, among other things, maintaining requisite governmental approvals, finalizing and entering into EPC contracts, entering into appropriate commercial arrangements, and obtaining adequate financing to construct each train and related infrastructure. Additionally, any development of additional expansion trains at the Rio Grande LNG Facility or CCS projects remains contingent upon receipt of requisite governmental approvals, execution of definitive commercial and financing agreements, securing all financing commitments and potential tax incentives, achieving other customary conditions and making a final investment decision to proceed. The forward-looking statements in this press release speak as of the date of this release. NextDecade may from time to time voluntarily update its prior forward-looking statements, however, it disclaims any commitment to do so except as required by securities laws.
Yahoo
12-03-2025
- Business
- Yahoo
Baker Hughes, NextDecade sign framework agreement for Rio Grande LNG project
Baker Hughes, an energy technology provider, has entered into a framework agreement with NextDecade, a liquefied natural gas (LNG) company, to supply gas turbine and refrigerant compressor technology for trains four through eight of the Rio Grande LNG facility in Texas, US. As part of the agreement, Baker Hughes will also deliver maintenance services for these equipment packages. The Rio Grande LNG facility is being developed on a 984-acre site in Brownsville, Texas. It will produce low-carbon intensive LNG and is considered to be the largest privately funded infrastructure project in Texas. NextDecade is advancing the commercialisation of Rio Grande LNG trains four and five, with construction expected to commence following a positive final investment decision (FID). This decision is contingent upon securing necessary government approvals, finalising engineering, procurement and construction contracts, establishing commercial agreements, and obtaining sufficient financing for each train and its associated infrastructure. NextDecade chairman and CEO Matt Schatzman added: 'Utilising Baker Hughes' industry-leading rotating equipment and their maintenance services is critical to ensuring the Rio Grande LNG facility operates efficiently and reliably. 'We look forward to continuing our collaboration with Baker Hughes as we progress our plans to make the Rio Grande LNG facility one of the largest LNG production and export facilities in the world.' The development and permitting process for trains six through eight, wholly owned by NextDecade, is also under way. These additional trains are projected to boost the company's total liquefaction capacity by approximately 18 million tonnes per annum upon completion and operation. Baker Hughes anticipates receiving orders in line with this agreement as NextDecade's project progresses. Baker Hughes chairman and CEO Lorenzo Simonelli said: 'Baker Hughes is proud to continue our long-standing relationship with NextDecade, providing advanced gas technology solutions that enhance the efficiency and reliability of their LNG operations. 'This agreement is a further example of our commitment to delivering innovative solutions in support of increasing energy demand.' Last month, Baker Hughes secured a major gas compression technology order for phase three of Aramco's Jafurah gas field expansion in Saudi Arabia. The company will supply electric motor-driven compression solutions through its expanded Dammam Centre as part of the contract. "Baker Hughes, NextDecade sign framework agreement for Rio Grande LNG project" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
