NextDecade Corp. signed binding agreements with lenders to safe the greater than $10 billion in financing it must fund development of its Rio Grande LNG export challenge in Texas and is aiming for a closing funding determination (FID) within the subsequent few weeks.
The Houston-based firm disclosed it has obtained commitments from a world consortium of lenders that may permit it to maneuver ahead with the 17.6 million metric ton/yr (mmty) first section of the Texas export challenge.
“The lender group consists of the world’s main Asian, European, Center Japanese and North American challenge finance banks,” representatives for the agency wrote in a press release.
Because of the upcoming Independence Day vacation, the agency stated it’s focusing on FID on the primary three trains on its challenge in early July. FID on the remaining two trains “may observe quickly after,” in line with NextDecade.
Total, the export facility deliberate for Brownsville, TX is designed for a 27 mmty nameplate capability at full build-out. It may additionally incorporate a carbon seize, storage and sequestration challenge, which is being commercialized individually.
Earlier within the month, NextDecade disclosed International Infrastructure Companions (GIP) and TotalEnergies would take vital fairness stakes within the challenge. Complete additionally agreed to take 5.4 million metric tons/yr (mmty) of liquefied pure fuel from section 1 for 20 years.
NextDecade has positioned 16.2 mmty of LNG from section 1, or round 92% of nameplate capability, beneath contract.
The agency has been indiciating it may totally commercialize the challenge by the center of the yr shortly after the Federal Vitality Regulatory Fee reaffirmed its authorization in April. The choice got here 18 months after the U.S. Courtroom of Appeals for the District of Columbia Circuit ordered the Fee to overview its authorizations for Rio Grande and Glenfarne Group LLC’s Texas LNG.
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If NextDecade publicizes FID, it might be the third U.S. challenge to take action this yr, following constructive selections to maneuver forward with Port Arthur LNG in Texas and the second section of Plaquemines LNG in Louisiana.
The submit NextDecade Targets Rio Grande LNG FID for July After Securing Financing appeared first on Pure Fuel Intelligence