NextDecade completes $18 billion investment to build America’s largest LNG export facility Ship’s crew

Houston-based NextDecade Corporation has announced a final $18.4 billion investment decision to build the first three liquefaction trains at its Rio Grande LNG terminal, the largest planned liquefied natural gas (LNG) export facility in the United States States in the Port of Brownsville, Texas.

The company called the decision the largest greenfield energy project financing in U.S. history and stressed the importance of LNG and natural gas to the global energy transition.

At full capacity, Rio Grande LNG will produce 27 million tonnes of LNG for export. The project includes a major carbon capture and storage component that aims to capture and permanently store over 5 million tonnes of CO2 per year, reducing carbon emissions by over 90%.

Phase 1 has a nominal liquefaction capacity of 17.6 MTPA and 16.2 MTPA of long-term committed LNG sale and purchase agreements with various companies including TotalEnergies, Shell NA LNG LLC and ExxonMobil LNG Asia Pacific.

According to the company, the project is expected to create over 5,000 jobs and significantly increase gross domestic product, with an estimated increase of $6 billion in Cameron County, $23 billion in Texas and up to $35 billion in the United States States .

“The future of the Rio Grande Valley economy begins at the Port of Brownsville,” said Esteban Guerra, chairman of the Brownsville Navigation District. “This dynamic project, the largest private infrastructure investment in the state of Texas, will provide well-paying jobs and economic growth to the region.”

NextDecade has also granted Bechtel Energy Inc. (“Bechtel”) the Notice of Continuation (NTP) for Phase 1 construction under its lump sum turnkey development, procurement and construction (EPC) contracts.

Global Infrastructure Partners, GIC, Mubadala and TotalEnergies have committed US$5.9 billion for Phase 1, with an option to invest in two additional trains and the CCS project. TotalEnergies’ investment in trains 4 and 5 is contingent on the exercise of their LNG purchase rights.

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