NextDecade Provides Fourth Quarter 2023 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 fourth quarter 2023 and early 2024.\n\n\nCEO Commentary\n\n\n\"We are committed to maximizing long-term value for NextDecade's shareholders by executing our business strategy efficiently and effectively,\" said Matt Schatzman, NextDecade's Chairman and Chief Executive Officer. \"We are focused on constructing Phase 1 at the Rio Grande LNG Facility safely, on time, and on budget, and delivering a positive FID of our fully permitted expansion capacity to meet growing global demand for cleaner energy sources including LNG.\"\n\n\n\"We have a steadfast commitment to upholding the highest standards of safety and excellence in project management and are working alongside our EPC partner, Bechtel, and other counterparties to ensure that construction activities proceed smoothly and in line with contractual schedules. Through rigorous planning, diligent execution, and proactive risk management, together we are seeking to maximize the efficiency of construction efforts.\"\n\n\n\"We are also actively working to capitalize on market opportunities and position the Company for sustained growth through expansion of our operational footprint. With regulatory approvals in place, our Train 4 and 5 expansion capacity is well-positioned to meet growing global demand for LNG. Supportive market conditions provide tailwinds to continue progressing toward FID of Train 4, which is well underway. Commercial discussions with various potential counterparties and the FEED and EPC contracting processes are proceeding well. Our progress remains aligned with our goal of reaching a positive final investment decision for Train 4 in the second half of this year.\"\n\n\n\"Through disciplined execution on Phase 1 and our expansion capacity at the Rio Grande LNG Facility, we are poised to achieve our long-term objective of becoming a leading provider of LNG to customers around the globe while also delivering sustainable growth and value creation for our shareholders.\"\n\n\nSignificant Recent Developments\n\n\nDevelopment and Construction\n\n\nUnder the EPC contracts with Bechtel Energy Inc. (Bechtel), Phase 1 progress is tracked for Train 1, Train 2, and the common facilities on a combined basis an...

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