NEXT - Why NextDecade Shares Are Trading Higher Today | Benzinga
NextDecade Corporation (NASDAQ:NEXT) shares are trading higher after Abu Dhabi Oil & Gas giant ADNOC announced it secured an equity position and LNG offtake agreement in NextDecade’s Rio Grande LNG project.
In particular, ADNOC acquired an 11.7% stake in Phase 1 (Trains 1-3) of Rio Grande LNG, which is a liquefied natural gas (LNG) export project located in Texas and expected to produce less carbon-intensive LNG.
This marks ADNOC’s first strategic investment in the U.S. to expand its lower-carbon LNG portfolio to meet growing gas demand.
Apart from this, ADNOC and NextDecade penned a 20-year LNG offtake agreement for 1.9 mtpa from Rio Grande LNG Train 4, on a free on board (FOB) basis at ...