NextDecade Provides First Quarter 2025 Business Update

About this update from Nextdecade Corporation

[{"type":"text","content":" HOUSTON--(BUSINESS WIRE)--\nNextDecade Corporation (NextDecade or the Company) (NASDAQ: NEXT) today provided an update on developmental and strategic activities for the first quarter 2025 and early second quarter 2025.\n\nCEO Commentary\n\n“NextDecade has had an incredibly strong start to 2025, as we announced expansion plans at the Rio Grande LNG Facility, including Trains 6 through 8, received a positive outcome in the D.C. Circuit Court case, completed the commercialization of Train 4, and continued to progress the construction of Phase 1 safely, on schedule, and on budget,” said Matt Schatzman, NextDecade’s Chairman and Chief Executive Officer. “We continue to see excellent demand for U.S. LNG, which will help us commercialize Train 5 and advance both Trains 4 and 5 toward positive final investment decisions (FIDs).”\n\n“In February, we announced expansion capacity at the Rio Grande LNG Facility beyond Trains 1 through 5, including Trains 6 through 8, bringing our total expected LNG production capacity under construction or in development to 48 MTPA. We expect to pre-file with the Federal Energy Regulatory Commission (FERC) for Train 6 this year and will provide a permitting timeline for Trains 7 and 8 later this year.”\n\n“In March, we received a positive outcome in the D.C. Circuit Court case impacting our FERC order when the Court issued a revision to its August 2024 judgment, resulting in a remand without vacatur of the FERC order and therefore ensuring that construction on Phase 1 can continue uninterrupted while FERC completes a supplemental environmental impact statement (SEIS). FERC issued a draft SEIS in March and its analysis was consistent with our expectations and previous analysis of our project. We will continue to work with FERC as it completes the SEIS and reauthorization process this year.”\n\n“In April, we announced 20-year LNG sale and purchase agreements (SPAs) with Aramco and Total, which join ADNOC as the long-term customers supporting Train 4, resulting in sufficient commercial commitments to underpin a positive FID. We are working with Bechtel on a refresh of our Train 4 EPC contract and we expect to launch the financing process for Train 4 imminently. Train 5 commercialization is progressing and we are working with Bechtel on a Train 5 EPC contract, with a plan to launch the financing process for Tr...

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