NextDecade LLC, a development and management company of liquefied
natural gas (LNG) projects that provides customers access to the full
LNG value chain, announced today that it has signed Heads of Agreements
(HOAs) totaling 14 Million tons per annum (Mtpa) for the sale and
purchase of LNG. These contracts include customers from across Asia and
Europe. Moving forward, NextDecade will focus on converting these HOAs
to fully-termed sales and purchase/tolling agreements per standard
industry practice.
NextDecade’s recent commercial success lays the groundwork to advance
its major export projects, including Rio Grande LNG and the roughly
140-mile Rio Bravo Pipeline system that will provide feed gas to the
facility in Brownsville, Texas. At full capacity, Rio Grande LNG will be
able to liquefy and export up to 27 Mtpa of LNG with initial production
of 9 Mtpa expected to begin in 2020. NextDecade expects to make a final
investment decision (FID) on the project in early-2017.
“These agreements are paving the way forward for NextDecade’s US-based
LNG export projects, Rio Grande LNG and Pelican Island LNG,” said
NextDecade CEO Kathleen Eisbrenner. “Despite challenging overall market
dynamics, our experience in the marketplace and the conversations that
NextDecade has been having with potential LNG buyers tell a very
different story. The global market for US-produced LNG is robust. We are
attracting a growing number of potential future NextDecade customers.
These agreements support our position and strengthen the viability of
our projects, both in Brownsville and around the world.”
About NextDecade LLC
NextDecade, based in The Woodlands, Texas, is a global development and
management company of land-based and floating LNG projects creating
innovative opportunities in the integrated natural gas industry.
NextDecade delivers opportunities for customers to meet their unique
needs by providing access to the full spectrum of the LNG value chain,
including infrastructure development, natural gas supply, and project
ownership. In addition, NextDecade provides commercial flexibility and
strategic partnerships inside a company culture that respects the values
and needs of customers and the communities in which it operates.
NextDecade’s current focus includes its Rio Grande LNG project in
Brownsville, Texas, in addition to the Pelican Island LNG project in
Galveston, Texas. Founded in 2010, NextDecade represents a team of
industry leaders with more than 200 years of combined experience in the
full LNG value chain, including successfully closing major LNG off-take
deals, LNG/FLNG technology, and project management. The world-class team
has developed, led, closed and operated industry-leading LNG, Gas and
Electricity projects globally. For more information, please visit www.next-decade.com.
Statements made herein by NextDecade, LLC (“ND”) or any of its officers,
directors, members, shareholders, employees, advisors, representatives,
contractors or agents (“ND Representatives”) may include statements of
future expectations and other forward-looking statements that are based
on such ND’s or ND Representatives’ present views and assumptions and
involve known and unknown risks and uncertainties that could cause
actual results, performance or events to materially differ from those
expressed or implied in such statements. ND and ND Representatives
assume no obligation to update any forward-looking statement or to
update any information contained herein.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151105005738/en/
Copyright Business Wire 2015
Source: Business Wire
(November 5, 2015 - 6:00 AM EST)
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