Key Highlights:

• NextDecade subsidiary Rio Grande LNG Train 4 secures a $4.3 billion EPC contract with Bechtel Energy Inc.

• Total estimated project costs range from $6.0-$6.2 billion, aligning with the per train cost of Phase 1 at the Rio Grande LNG Facility.

• Price validity extends through December 31, 2024 with a Final Investment Decision targeted in the second half of 2024.

Source (Direct)

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Our Take:

This strategic agreement between NextDecade and Bechtel Energy Inc. is a significant milestone for the expansion of the Rio Grande LNG Facility. The $4.3 billion EPC contract highlights the commitment of both companies to advancing sustainable LNG infrastructure. The alignment of the estimated project costs with Phase 1 demonstrates consistency in financial planning and execution. As NextDecade approaches the Final Investment Decision in 2024, the successful securing of adequate financing and commercial support will be crucial for moving forward with Train 4, underscoring the company's forward momentum in the LNG sector.