NextDecade, LLC has entered into an agreement with GE Oil & Gas to exclusively supply gas turbine and compressor equipment for the liquefaction trains of the Rio Grande LNG project and the associated Rio Bravo Pipeline.
The gas turbine and compressor equipment supplied to NextDecade will come with long-term services, life-cycle maintenance agreements, and GE performance guarantees. In addition to technology and services, GE Oil & Gas is providing NextDecade with a common equity investment, and is granted the right to invest up to a specified amount in project-level equity and debt financing for Rio Grande LNG at the time of final investment decision.
“NextDecade is delighted to welcome GE Oil & Gas as both a shareholder and exclusive supplier to its Rio Grande LNG and Rio Bravo Pipeline projects,” said Kathleen Eisbrenner, NextDecade Chief Executive Officer. “We believe GE will add significant value as we work to make Rio Grande LNG one of the most competitive liquefaction projects in the world. The addition of GE Oil & Gas reaffirms our commitment to use proven technology to provide our customers with low-cost, reliable LNG.”