Rio Grande LNG Receives DOE Authorization to Export Liquefied Natural Gas to Free Trade Agreement Countries
NextDecade, LLC announced today that the United States Department of
Energy (DOE) has authorized the export of Liquefied Natural Gas (LNG)
from its proposed Rio Grande LNG facility to Free Trade Agreement (FTA)
countries.
Responding to the application filed in December 2015, the DOE order
authorizing the export of up to 27 Mtpa of LNG (equivalent to
approximately 3.6 Bcf/d natural gas) for a 30-year term was granted on
August 17, 2016 subject to Rio Grande LNG’s continued compliance with
customary regulatory obligations as determined by all relevant agencies.
“NextDecade is well-positioned to meet international demand, and FTA
export authorization is an important milestone towards making a final
investment decision in 2017,” said Alfonso Puga, NextDecade Chief
Commercial Officer. “The U.S. has an abundant supply of natural gas and
we have found a robust appetite for LNG.”
In November 2015, NextDecade announced it had signed non-binding
agreements for 14 Mtpa of LNG with customers across Asia and Europe.
Since then, that number has grown to 30 Mtpa, demonstrating a continued
desire for U.S.-produced LNG from customers around the world, and
specifically, a desire for LNG from NextDecade.
NextDecade expects to receive FERC approval for Rio Grande LNG in 2017
with initial LNG exports shipping by the end of 2020.
About Rio Grande LNG
Rio Grande LNG is a proposed liquefied natural gas (LNG) export facility
at the Port of Brownsville. The project, proposed for a 1,000-acre
industrial site on the Port of Brownsville, includes the Rio Bravo
Pipeline, and is currently in the rigorous Federal Energy Regulatory
Commission (FERC) permitting process. Should the project move forward,
it is expected to create between 4,000 and 6,000 construction jobs, more
than 200 well-paid permanent jobs, and reflect a potential investment up
to $20 billion. To date, our world-class engineers, safety experts and
environmental consultants have spent more than 250,000 man-hours
ensuring that the project is developed with the utmost care and
attention to safety, respecting the people, preserving the environment
and caring for the Valley’s way of life. For more information, please
visit www.riograndelng.com.
About NextDecade, LLC
NextDecade, based in The Woodlands, Texas, is a development and
management company of land-based and floating LNG projects, creating
innovative opportunities in the integrated natural gas industry and
providing customers access to the full LNG value chain. By bringing
together people, companies and opportunities, NextDecade assembles best
in class assets to deliver successful projects. Founded in 2010,
NextDecade represents a team of industry leaders with extensive
experience in the full LNG value chain, including successfully closing
major LNG off-take deals, LNG/FLNG technology, and project management.
The experienced 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. To the fullest extent permitted
by law, Company excludes all representations and warranties relating to
its contents and excludes all liability for damages arising out of or in
connection with use of this information. Any development of the project
remains contingent upon completing required commercial agreements;
acquiring all necessary permits and approvals; securing all financing
commitments and potential tax incentives; achieving other customary
conditions; and making a final investment decision to proceed.
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