NEXT - NextDecade inks 20-year LNG sales deal with China's ENN

NextDecade (NEXT +27.8%) skyrockets near its highest level in more than four years after saying Wednesday it agreed to sell 1.5M tons/year of liquefied natural gas to Chinese energy company ENN under a 20-year contract. The LNG supply will come from the first two trains at NextDecade's Rio Grande LNG export project in Brownsville, Texas, with the first train expected to start commercial operations as early as 2026. Assuming the achievement of further LNG contracting and financing, NextDecade said it anticipates making a positive final investment decision on a minimum of two trains of the Rio Grande LNG export project in H2 2022. NextDecade recently announced a binding agreement to supply gas to China's Guangdong Energy Group for 20 years from Rio Grande LNG.

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NextDecade inks 20-year LNG sales deal with China's ENN