NextDecade Strikes 20-Year LNG Supply Deal with Exxon Mobil

(P&GJ) — NextDecade Corp. has entered a 20-year sale and purchase agreement (SPA) with an affiliate of Exxon Mobil for the supply of LNG from NextDecade’s Rio Grande LNG export project (RGLNG) in Brownsville, Texas.

Under the SPA, ExxonMobil LNG Asia Pacific will purchase 1.0 million metric tonnes per annum of LNG. The LNG will be supplied from the first two trains of Rio Grande LNG, with the first train expected to start commercial operations as early as 2026.

“LNG will play an increasingly important role in helping society reduce emissions during the energy transition,” Peter Clarke, senior vice president of LNG for the Exxon Mobil Upstream Co., said. “We look forward to working with NextDecade to continue growing Exxon Mobil’s LNG portfolio and delivering the lower-emissions energy the world needs.”

Based on current expected demand for LNG and assuming the achievement of further LNG contracting and financing, NextDecade anticipates making a positive final investment decision on up to three trains of the Rio Grande LNG export project in the second half of 2022, with FIDs of its remaining trains to follow thereafter.

Related News

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}