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NextDecade and Galp Execute 1.0 MTPA LNG Sale and Purchase Agreement
HOUSTON--(BUSINESS WIRE)-- NextDecade Corporation (NextDecade) (NASDAQ: NEXT) announced today the execution of a sale and purchase agreement (SPA) with Galp
About this update from Nextdecade Corporation
[{"type":"text","content":" HOUSTON--(BUSINESS WIRE)--\nNextDecade Corporation (NextDecade) (NASDAQ: NEXT) announced today the execution of a sale and purchase agreement (SPA) with Galp Trading S.A. (Galp), for the long-term supply of liquefied natural gas (LNG) from NextDecade's Rio Grande LNG (RGLNG) export project in Brownsville, Texas.\n\nUnder the 20-year SPA, Galp will purchase 1.0 million tonnes per annum (MTPA) of LNG indexed to Henry Hub on a free-on-board basis.\n\n\"We are honored to have Galp, one of Portugal’s largest energy companies and a key player in the Iberian Peninsula, as our customer,\" said Matt Schatzman, NextDecade's Chairman and Chief Executive Officer. \"We look forward to helping Galp, as well as other European companies and their customers, meet their energy needs by offering a lower-cost, reliable source of LNG with lower carbon-intensity.\"\n\nNextDecade is currently targeting a positive Final Investment Decision (FID) on the first three trains of the RGLNG export project during the first quarter of 2023, with FIDs of its remaining trains to follow thereafter.\n\nAbout NextDecade Corporation\n\nNextDecade Corporation is an energy company accelerating the path to a net-zero future. Leading innovation in more sustainable LNG and carbon capture solutions, NextDecade is committed to providing the world access to cleaner energy. Through our wholly owned subsidiaries Rio Grande LNG and NEXT Carbon Solutions, we are developing a 27 MTPA LNG export facility in South Texas along with one of the largest carbon capture and storage (CCS) projects in North America. We are also working with third-party customers around the world to deploy our proprietary processes to lower the cost of carbon capture and storage and reduce CO2 emissions at their industrial-scale facilities. NextDecade's common stock is listed on the Nasdaq Stock Market under the symbol \"NEXT.\" NextDecade is headquartered in Houston, Texas. For more information, please visit www.next-decade.com.\n\nForward-Looking Statements\n\nThis press release contains forward-looking statements within the meaning of U.S. federal securities laws. The words \"anticipate,\" \"contemplate,\" \"estimate,\" \"expect,\" \"project,\" “target,” \"plan,\" \"intend,\" \"believe,\" \"may,\" \"might,\" \"will,\" \"would,\" \"could,\" \"should,\" \"can have,\" \"likely,\" \"continue,\" \"design,\" ...