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PBOG is the Official Publication of the Permian Basin Petroleum Association and is published monthly by Zachry Publications, LP.

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NextDecade makes final investment decision for Rio Grande LNG export facility

July 28, 2023 by PBOG

Houston-based NextDecade said recently it has made positive final investment decision to construct the first three liquefaction trains at the company’s Rio Grande LNG export facility in Brownsville.  The $18.4 billion project – the largest greenfield energy project financing in U.S. history – will have capacity of 27 metric tons per year.  NextDecade said Rio Grande LNG “underscores the critical role that LNG and natural gas will continue to play in the global energy transition industry.”

NextDecade issued a notice to proceed to Bechtel Energy to begin Phase I construction.  It will have liquefaction capacity of 17.6 metric tons per year, and NextDecade said already it has 16.2 mtpy of long-term, binding LNG sale and purchase agreements.  Rio Grande LNG is scheduled to be online by November 2028.

Matt Schatzman, chairman and CEO, said July 12, “We look forward to delivering this important LNG project that will supply the world with reliable and lower-carbon intensive LNG while proudly supporting the Rio Grande Valley community by investing billions of dollars and creating thousands of much-needed and well-deserved jobs.”  Paul Marsden, president of Bechtel Energy, added, “NextDecade is on a mission to produce lower-carbon intensive LNG for its customers, and we’re honored to be their partner.”

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