Business
NextDecade Announces Increase of ENN LNG Sale and Purchase Agreement
HOUSTON--(BUSINESS WIRE)-- NextDecade Corporation (NextDecade) (NASDAQ: NEXT) announced today a volume increase of the sale and purchase agreement (SPA) with
About this update from Nextdecade Corporation
[{"type":"text","content":" HOUSTON--(BUSINESS WIRE)--\nNextDecade Corporation (NextDecade) (NASDAQ: NEXT) announced today a volume increase of the sale and purchase agreement (SPA) with ENN LNG (Singapore) Pte Ltd (ENN), a wholly-owned subsidiary of ENN Natural Gas Co., Ltd. for the supply of liquefied natural gas (LNG) from NextDecade’s Rio Grande LNG export project (RGLNG) in Brownsville, Texas.\n\nUnder the 20-year SPA, ENN will now purchase 2.0 million tonnes per annum (MTPA) of LNG. This is a 0.5 MTPA increase from the original 1.5 MTPA SPA announced earlier this year. All volumes of LNG are indexed to Henry Hub and will be supplied from the first three trains at RGLNG on a free-on-board basis.\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 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,” “plan,” “intend,” “believe,” “may,” “might,” “will,” “would,” “could,” “should,” “can have,” “likely,” “continue,” “design,” “assume,” “budget,” “guidance,” and “forecast” and other words and terms of similar expressions are intended to identify forward-looking statements, and these statements may relate to the business of NextDecade and its subsidiar...