NEXT - NextDecade inks 15-year LNG supply deal with Japan's Itochu

NextDecade ( NASDAQ: NEXT ) +2.7% pre-market Thursday after announcing a long-term sale and purchase agreement with Japan's Itochu Corp. for the supply of liquefied natural gas from the proposed Rio Grande LNG export project in Texas.

Under the 15-year deal, Itochu will purchase 1M metric tons/year of LNG indexed to Henry Hub on a free-on-board basis.

NextDecade ( NEXT ) reiterated its target for a positive final investment decision on the first three trains of the Rio Grande LNG project during Q1 2023, followed by FIDs of its remaining trains.

The Fifth U.S. Circuit Court of Appeals court recently upheld a key water permit for the Rio Grande LNG project .

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