NextDecade Announces Bank Commitments and Updated FID Timing for Rio Grande LNG
29 Junho 2023 - 6:00PM
Business Wire
NextDecade Corporation (NextDecade) (NASDAQ: NEXT) announced
today 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.
Due in part to the observance of various holidays around the
world, including the July 4th holiday, NextDecade is now targeting
FID on Phase 1 in early July with FIDs of its remaining trains to
follow thereafter.
About NextDecade Corporation
NextDecade Corporation is an energy company accelerating the
path to a net-zero future. Leading innovation in more sustainable
LNG and carbon capture solutions, NextDecade is committed to
providing the world access to cleaner energy. Through our wholly
owned subsidiaries Rio Grande LNG and NEXT Carbon Solutions, we are
developing a 27 MTPA LNG export facility in South Texas along with
one of the largest carbon capture and storage projects in North
America. We are also working with third-party customers around the
world to deploy our proprietary processes to lower the cost of
carbon capture and storage and reduce CO2 emissions at their
industrial-scale facilities. NextDecade’s common stock is listed on
the Nasdaq Stock Market under the symbol “NEXT.” NextDecade is
headquartered in Houston, Texas. For more information, please visit
www.next-decade.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of U.S. federal securities laws. The words
“anticipate,” “contemplate,” “estimate,” “expect,” “project,”
“plan,” “intend,” “believe,” “may,” “might,” “will,” “would,”
“could,” “should,” “can have,” “likely,” “continue,” “design,”
“assume,” “budget,” “guidance,” and “forecast” and other words and
terms of similar expressions are intended to identify
forward-looking statements, and these statements may relate to the
business of NextDecade and its subsidiaries. These statements have
been based on assumptions and analysis made by NextDecade in light
of current expectations, perceptions of historical trends, current
conditions and projections about future events and trends and
involve a number of known and unknown risks, which may cause actual
results to differ materially from expectations expressed or implied
in the forward-looking statements. These risks include NextDecade’s
progress in the development of its LNG liquefaction and export
projects and CCS projects and the timing of that progress; the
timing of achieving a final investment decision on the Rio Grande
LNG terminal (the “Terminal”); reliance on third-party contractors
to successfully complete the Terminal, the pipeline to supply gas
to the Terminal and any CCS projects; ability to develop NEXT
Carbon Solutions’ business though implementation of CCS projects;
ability to secure additional debt and equity financing in the
future to complete the Terminal and CCS projects on commercially
acceptable terms; accuracy of estimated costs for the Terminal and
CCS projects; ability to achieve operational characteristics of the
Terminal and CCS projects, when completed, including liquefaction
capacities and amount of CO2 captured and stored, and any
differences in such operational characteristics from expectations;
development risks, operational hazards and regulatory approvals
applicable to NextDecade’s development, construction and operation
activities and those of its third-party contractors and
counterparties; technological innovation which may lessen
NextDecade’s anticipated competitive advantage or demand for its
offerings; global demand for and price of LNG; availability of LNG
vessels worldwide; changes in legislation and regulations relating
to the LNG and CCS industries, including environmental laws and
regulations that impose significant compliance costs and
liabilities; scope of implementation of carbon pricing regimes
aimed at reducing greenhouse gas emissions; global development and
maturation of emissions reduction credit markets; adverse changes
to existing or proposed carbon tax incentive regimes; global
pandemics, including the 2019 novel coronavirus pandemic, the
Russia-Ukraine conflict, other sources of volatility in the energy
markets and their impact on NextDecade’s business and operating
results, including any disruptions in its operations or development
of the Terminal and the health and safety of its employees, and on
its customers, the global economy and the demand for LNG; risks
related to doing business in and having counterparties in foreign
countries; NextDecade’s ability to maintain the listing of our
securities on the Nasdaq Capital Market or another securities
exchange or quotation medium; changes adversely affecting the
businesses in which NextDecade is engaged; management of growth;
general economic conditions; ability to generate cash; and the
result of future financing efforts and applications for customary
tax incentives; and other matters discussed in the “Risk Factors”
section of NextDecade’s most recent Annual Report on Form 10-K and
subsequent reports filed with the Securities and Exchange
Commission. Additionally, any development of the Terminal or CCS
projects remains contingent upon execution of definitive commercial
and financing agreements, securing all financing commitments and
potential tax incentives, achieving other customary conditions and
making a final investment decision to proceed. The forward-looking
statements in this press release speak as of the date of this
release. Although NextDecade believes that the expectations
reflected in these forward-looking statements are reasonable, it
can give no assurance that the expectations will prove to be
correct. NextDecade may from time to time voluntarily update its
prior forward-looking statements, however, it disclaims any
commitment to do so except as required by securities laws.
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IR@next-decade.com communications@next-decade.com
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