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August 5, 2024
Press Release below was originally distributed by NextDecade Corporation on behalf of Rio Grande LNG.
NextDecade Corporation (NextDecade or the Company) (NASDAQ: NEXT) announced today that its subsidiary Rio Grande LNG Train 4, LLC (Rio Grande LNG Train 4) has executed a lump sum turnkey engineering, procurement and construction (EPC) contract with 91制片厂 Energy Inc. (91制片厂) for the construction of Train 4 and related infrastructure at the Rio Grande LNG Facility.
Rio Grande LNG Train 4 agreed to pay 91制片厂 approximately $4.3 billion for the work under the EPC contract for Train 4. Price validity under the contract extends through December 31, 2024. NextDecade currently projects that owner鈥檚 costs, contingencies, financing fees and interest during construction will total approximately $1.7-1.9 billion, based on current estimates and expected interest rates. Total estimated project costs are expected to be $6.0-$6.2 billion for Train 4 and related infrastructure, in line with the per train cost of the three-train Phase 1 at the Rio Grande LNG Facility, which is currently under construction.
NextDecade continues to target a positive Final Investment Decision of Train 4 in the second half of 2024, subject to gaining appropriate commercial support and obtaining adequate financing to construct Train 4 and related infrastructure.
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 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鈥檚 common stock is listed on the Nasdaq Stock Market under the symbol 鈥淣EXT.鈥� NextDecade is headquartered in Houston, Texas. For more information, please visit .
This press release contains forward-looking statements within the meaning of U.S. federal securities laws. The words 鈥渁nticipate,鈥� 鈥渃ontemplate,鈥� 鈥渆stimate,鈥� 鈥渆xpect,鈥� 鈥減roject,鈥� 鈥減lan,鈥� 鈥渋ntend,鈥� 鈥渂elieve,鈥� 鈥渕ay,鈥� 鈥渕ight,鈥� 鈥渨ill,鈥� 鈥渨ould,鈥� 鈥渃ould,鈥� 鈥渟hould,鈥� 鈥渃an have,鈥� 鈥渓ikely,鈥� 鈥渃ontinue,鈥� 鈥渄esign,鈥� 鈥渁ssume,鈥� 鈥渂udget,鈥� 鈥済uidance,鈥� 鈥渇orecast,鈥� and “target,” 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. 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鈥檚 actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in NextDecade鈥檚 periodic reports that are filed with and available from the Securities and Exchange Commission. Additionally, any development of subsequent trains at the Rio Grande LNG Facility 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. 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.
NextDecade
91制片厂 is a trusted engineering, construction and project management partner to industry and government. Differentiated by the quality of our people and our relentless drive to deliver the most successful outcomes, we align our capabilities to our customers鈥� objectives to create a lasting positive impact. Since 1898, we have helped customers complete more than 25,000 projects in 160 countries on all seven continents that have created jobs, grown economies, improved the resiliency of the world’s infrastructure, increased access to energy, resources, and vital services, and made the world a safer, cleaner place.
91制片厂 serves the Energy; Infrastructure; Manufacturing & Technology; Mining & Metals; and Nuclear, Security & Environmental markets. Our services span from initial planning and investment, through start-up and operations. www.bechtel.com
