NextDecade has made an FID on Train 5 at its Rio Grande LNG project in Texas, boosting the site’s capacity under development to 30 million tonnes per year, the company said on Thursday.
Train 5 is backed by 20-year offtake deals with JERA, EQT and ConocoPhillips and is expected to begin commercial deliveries in the first half of 2031.
The USD 6.7 billion project is fully funded through a mix of debt, private placements and equity, including USD 1.29 billion each from NextDecade and its partners Global Infrastructure Partners, GIC and Mubadala.
NextDecade used USD 233 million of cash and USD 1.33 billion in term loans to fund its equity share with no material impact to common shares.
“Today, we are excited to announce that we have made an FID on Train 5, marking the second FID for NextDecade in just over a month,” chairman and chief executive Matt Schatzman said.
NextDecade is a US-based energy company focused on LNG export infrastructure and carbon capture solutions. Its flagship Rio Grande LNG project in South Texas is a multi-train development targeting global LNG markets.
Bechtel is a global engineering, procurement and construction firm delivering large-scale energy infrastructure, including LNG terminals and pipelines.
Source: theenergyyear.com