NextDecade to secure $1.8bn from TotalEnergies and GIP for Rio Grande LNG project

NextDecade, a US LNG developer (LNG), is to be secured up to $ 1.8 billion of stock obligations from Totalenergies and global infrastructure partners (GIP), Reuters.

Revenue is dedicated to financing a new liquefy factory in the NextDecade export project in Texas.

This funding represents an important step towards the FID Final investment Decision (FID), which will be 5.4 million tons annually (MTPA).

The company is currently awaiting a final order from the Federal Energy Regulatory Committee (FERC), which has completed the environmental impact statement (EIS) and recommended the progress of the project.

NextDecade expects to obtain the final order by November 20.

Totalergies is scheduled to invest about $ 300 million for a 10 % stake in the joint train project 4, while GIP will contribute to up to $ 1.5 billion for 50 % interest, which will be reduced to 30 % once certain returns are achieved.

Nextdecade will invest, through its subsidiaries, up to $ 1.2 billion for 40 % interest, which may increase to 60 % after GIP receives the agreed returns.

Despite Totalergies’s commitment to purchasing 1.5 million tons of LNG from TRIIN 4, the company chose not to invest or sign a long -term contract for the 5 proposed train attachment to NextDecade.

Nextdecade also obtained a fixed -rate construction contract with Bechtel for Train 4, with a total of $ 4.77 billion, with a price guarantee until September 15.

The Rio Grande Lng project, with a preliminary capacity of 17.6MTPA, will be expanded by developing trains 4 and 5, which adds a common capacity of 10.8mtpa.

These developments aim to maintain the US site as the largest liquefied natural gas source.

In addition, NextDecade companies have updated the engineering, purchases and construction contract (EPC) with Bechtel Energy for Train 4 and signed a new EPC agreement for train 5, both of which are at the site in Bronzville, Texas.

“Nextdecade to secure $ 1.8 billion from Totalenergies and GIP for the Rio Grande Lng Project” was originally created and originally published by Offshore Technology, a brand owned by Globaldata.

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