NextDecade has pledged to provide $158 million of its own funds on top of the $125 million it had already spent on pre-FID costs.įinal Investment Decisions for US LNG Export Projects in 2023Īnnounced during the LNG 2023 conference in Vancouver, the July 12 FID allowed NextDecade to issue notice to proceed to engineering, procurement and construction (EPC) contractor Bechtel to build the first three out of five liquefaction trains at the site as well as two 180,000 m3 storage tanks and two marine berths. are providing a combined $5.9 billion of private equity financing to the Port of Brownsville project. GIP, TotalEnergies, Singapore based GIC and Abu Dhabi’s Mubadala Investment Co.
NextDecade made FID less than a month after it announced an equity deal with New York-based Global Infrastructure Partners (GIP) in addition to a separate equity deal and a 5.4-MMt/y supply and purchase agreement (SPA) with French major TotalEnergies. Most of the project’s $11.6-billion, non-recourse debt financing is being provided by Asian, European, Middle Eastern and North American banks, with another $700 million of debt coming from the sale of 10-year senior secured nonrecourse private placement notes (project bonds) paying 6.67% per year in interest. NextDecade is seeking to begin production at its Rio Grande LNG site by 2027 after securing $18.4 billion in financing for the 17.6-MMt/y Phase 1 of the company’s Texas facility – the third US LNG export project to reach a final investment decision (FID) this year.
LNG and Natural Gas: Energy Security and Net-Zero Carbon – Virtual Training Course June 2023.
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