Latest news with #Train4
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.
Yahoo
15-04-2025
- Business
- Yahoo
TotalEnergies, NextDecade sign 20-year LNG deal for Rio Grande Train 4
TotalEnergies has exercised its option to purchase liquefied natural gas (LNG) from Train 4 of NextDecade's Rio Grande LNG facility near Brownsville, Texas, US. Subsidiaries of both companies have entered into a long-term sale and purchase agreement (SPA) in which TotalEnergies Gas & Power North America will acquire 1.5 million tonnes per annum (mtpa) of LNG over a 20-year period. The agreement is contingent upon a positive final investment decision (FID) for Train 4, which will be decided based on various factors including the arrangement of sufficient financing for the construction of Train 4 and its associated infrastructure. The LNG will be provided on a free-on-board (FOB) basis, with pricing indexed to the Henry Hub benchmark. NextDecade chairman and chief executive officer Matt Schatzman said: 'TotalEnergies has been a key contributor to the success of Rio Grande LNG Phase 1, and we are pleased to be expanding our strategic partnership with TotalEnergies with the execution of this Train 4 SPA. "This SPA completes the commercial support we need for Rio Grande LNG Train 4, and we are now focused on progressing Train 4 toward a positive FID.' NextDecade has secured long-term commitments for a total of 4.6mtpa from Train 4 and anticipates that these agreements will be adequate to support a positive FID. The Rio Grande LNG facility, situated on a 984-acre site in Brownsville, is designed to produce LNG with a lower carbon intensity, aligning with the industry's shift towards more sustainable energy practices. NextDecade is developing and constructing the facility through its subsidiaries. Last month, NextDecade signed a framework agreement with Baker Hughes to supply gas turbine and refrigerant compressor technology for Trains 4 through 8 at the Rio Grande LNG facility. This agreement also includes the provision of maintenance services for the equipment supplied. "TotalEnergies, NextDecade sign 20-year LNG deal for Rio Grande Train 4" 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. Sign in to access your portfolio
Yahoo
14-04-2025
- Business
- Yahoo
NextDecade, Aramco subsidiary sign 20-year LNG deal for Rio Grande LNG Train 4
NextDecade has executed a 20-year liquefied natural gas (LNG) sale and purchase agreement (SPA) with a subsidiary of Aramco. The agreement involves the purchase of 1.2 million tonnes per annum (mtpa) of LNG from Train 4 at the Rio Grande LNG facility in Texas, US. This SPA is contingent on a positive final investment decision (FID) for Train 4. The Aramco subsidiary will acquire the LNG on a free on-board basis, with pricing indexed to Henry Hub. Achieving a positive FID on Train 4 depends on securing appropriate commercial arrangements and obtaining adequate financing for construction and related infrastructure. The Rio Grande LNG facility, located on a 984-acre site in Brownsville, Texas, aims to produce low-carbon-intensive LNG. NextDecade chairman and chief executive officer Matt Schatzman said: 'We are extremely pleased to have Aramco as a customer in Rio Grande LNG Train 4. 'The Rio Grande LNG Facility continues to attract outstanding LNG customers, which we believe is a testament to the quality of our project.' Last month, Baker Hughes entered a framework agreement with NextDecade to supply gas turbine and refrigerant compressor technology for trains four through eight of the facility. In addition to technology supply, Baker Hughes will provide maintenance services for the equipment packages. Additionally, NextDecade's subsidiary, Rio Grande LNG Train 4, awarded an engineering, procurement and construction (EPC) contract to Bechtel Energy in August last year for the Train 4 expansion. The EPC contract, valued at approximately $4.3bn, includes the construction of Train 4 and its associated infrastructure. The total estimated project costs for Train 4 and related infrastructure are projected to be between $6bn and $6.2bn. "NextDecade, Aramco subsidiary sign 20-year LNG deal for Rio Grande LNG Train 4" 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. Sign in to access your portfolio
Yahoo
12-04-2025
- Business
- Yahoo
Sinopec, Aramco sign agreement for Yanbu Refinery expansion in Saudi Arabia
China Petroleum & Chemical Corporation (Sinopec) and the Saudi Arabian Oil Company (Aramco) have signed a venture framework agreement to expand the Yanbu Refinery in Saudi Arabia. The expansion, which will include a large-scale, mixed-feed steam cracker and aromatics plant, is aimed at enhancing the refinery's integration and supporting Saudi Arabia's industrial diversification strategy. The project will leverage existing facilities to construct new units including a 1.8 million tonnes per annum (mtpa) ethylene plant and a 1.5mtpa aromatics plant with associated downstream polyolefin units. This development aims to foster an innovative, full-industry-chain ecosystem and meet growing global market demand. Aramco president and CEO Amin H. Nasser said: "The Yanbu expansion agreement deepens Aramco's strategic partnership with Sinopec. By prioritising product innovation and diversification, we aim to reinforce Saudi Arabia's leadership in the global energy and chemicals landscape while positioning Yanbu as a premier integrated refining and petrochemical hub." The Yanbu Refinery in Yanbu Industrial City processes 430,000 barrels per day of Saudi heavy crude oil. It produces high-quality refined products and value-added chemicals for global markets. The expansion is expected to significantly boost production capacity for high-end petrochemical products. Sinopec Group president Zhao Dong said: "The Yanbu Refinery stands as a testament to the strong friendship between China and Saudi Arabia, delivering robust economic benefits and advancing the petrochemical industry's modernisation. "This expansion will unlock greater synergies between Sinopec and Aramco, creating a world-leading integrated refining and petrochemical enterprise with global competitiveness. Together, we will contribute to a low-carbon energy transition." The expansion project combines technological innovation and industrial chain optimisation to upgrade traditional energy cooperation models and explore sustainable development pathways. The project will integrate new ethylene, aromatics and polyolefin units with existing infrastructure, elevating the complex's refining-petrochemical integration capabilities. It will also incorporate advanced technologies and green innovations to support Saudi Arabia's economic diversification and decarbonisation goals. Additionally, NextDecade recently executed a 20-year liquefied natural gas (LNG) sale and purchase agreement with a subsidiary of Aramco. The agreement involves the purchase of 1.2mtpa of LNG from Train 4 at the Rio Grande LNG facility in Texas, US, contingent on a positive final investment decision for Train 4. "Sinopec, Aramco sign agreement for Yanbu Refinery expansion in Saudi Arabia" 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.
