TCEQ Commissioners Vote to Approve Air Permits for NextDecade’s Rio Grande LNG Project
NextDecade Corporation (“NextDecade”) (NASDAQ: NEXT) announced today
that the Texas Commission on Environmental Quality (“TCEQ”) voted to
issue a series of air permits to NextDecade’s Rio Grande LNG project in
South Texas (TCEQ Docket No. 2018-1304-AIR).
“We appreciate the TCEQ’s commitment to the review of our project and
are pleased to achieve another significant milestone in our efforts to
deliver a safe and reliable LNG facility,” said Matt Schatzman,
NextDecade’s President and Chief Executive Officer. “We look forward to
bringing thousands of jobs to the Rio Grande Valley and communities
throughout the State of Texas, and to facilitating access to
clean-burning, U.S.-produced natural gas for our customers around the
world.”
During today’s meeting, TCEQ Commissioners voted to issue Air Quality
Permit No. 104792, PSD Air Quality Permit No. PSDTX1498, and GHGPSD Air
Quality Permit No. GHGPSDTX158. In addition, all requests for hearing
and a motion for reconsideration were denied.
The Rio Grande LNG project also remains subject to review by the Federal
Energy Regulatory Commission (“FERC”), which is the primary and
coordinating agency responsible for the permitting of U.S. LNG projects.
FERC issued a draft environmental impact statement (“EIS”) on the Rio
Grande LNG project and associated Rio Bravo Pipeline on October 12,
2018. A final EIS will be issued on April 26, 2019. FERC has established
a 90-day Federal Authorization Decision Deadline of July 25, 2019.
NextDecade anticipates a final investment decision on the project in the
third quarter of 2019.
About NextDecade Corporation
NextDecade is an LNG development company primarily focused on LNG export
projects and associated pipelines in Texas. NextDecade intends to
develop a portfolio of LNG projects, including the 27 mtpa Rio Grande
LNG export facility in Brownsville, Texas and the 4.5 Bcf/d Rio Bravo
Pipeline that would transport natural gas from the Agua Dulce area to
Rio Grande LNG. NextDecade’s common stock is listed on the Nasdaq Stock
Market under the symbol “NEXT.” NextDecade is headquartered in Houston,
Texas.
Located at the Port of Brownsville in South Texas, NextDecade’s Rio
Grande LNG project is expected to be a leader among second wave U.S. LNG
projects. NextDecade believes its customers and shareholders will
benefit from the project’s experienced leadership, proven approach, and
optimal location. NextDecade’s technology selections are expected to
foster operational reliability and afford NextDecade’s customers access
to abundant natural gas from the Permian Basin, Eagle Ford Shale, and
other basins.
CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the
meaning of U.S. federal securities laws. The words “believe,” “expect,”
“intend,” “plan,” “potential,” and similar expressions are intended to
identify forward-looking statements, and these statements may relate to
the business of the Company and its subsidiaries. These statements have
been based on the Company’s current assumptions, expectations, and
projections about future events 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.
These risks include uncertainties about the Company’s Rio Grande LNG and
Rio Bravo pipeline projects and other matters discussed in the “Risk
Factors” section of the Company’s Annual Report on Form 10-K for the
year ended December 31, 2017 and other subsequent reports filed with the
Securities and Exchange Commission, all of which are incorporated herein
by reference.
Any development of the projects remain 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. The forward-looking statements in this
press release speak as of the date of this release. Although the Company
believes that the expectations reflected in these forward-looking
statements are reasonable, the Company can give no assurance that the
expectations will prove to be correct. The Company 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181212005910/en/
Copyright Business Wire 2018