NEXT - NextDecade Locks In 20-Year LNG Supply Deal With Aramco: Details | Benzinga
NextDecade Corporation (NASDAQ:NEXT) shares are trading higher today. The company and Saudi Oil giant Aramco disclosed that their subsidiaries have signed a non-binding Heads of Agreement (HoA) for LNG project.
The deal entails a 20-year liquefied natural gas sale and purchase agreement (LNG SPA) to purchase LNG from Train 4 at the Rio Grande LNG Facility in the Port of Brownsville, Texas.
As per the terms, Aramco plans to buy 1.2 million tonnes per annum (MTPA) of LNG for 20 years on a free on board basis, with pricing indexed to Henry Hub.
Aramco and NextDecade are currently negotiating a binding agreement, which will become effective ...