NextDecade Receives Bank Commitments for Rio Grande LNG

(P&GJ) — NextDecade Corp. has announced that Rio Grande LNG (RGLNG) has received binding commitments from a syndicate of lenders in an amount sufficient, together with expected project equity funding, to support a positive final investment decision (FID) of the first three liquefaction trains (Phase 1) at the Rio Grande LNG export facility in Brownsville, Texas.

The lender group includes the world’s leading Asian, European, Middle Eastern and North American project finance banks.

NextDecade has sold 16.2 million tonnes per annum (MTPA) of LNG from Phase 1, or 92% of nameplate capacity, under long-term sale and purchase agreements, sufficient to support the binding debt commitments from these leading lenders and the near-term FID of the 17.61 MTPA Phase 1.

The company stated that it is adjusting its timeline for Phase 1 Final Investment Decision (FID) to early July, taking into account global holiday observances. Subsequently, FIDs for the remaining trains will be pursued.

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