NEXT - NextDecade lines up lenders for Rio Grande LNG project eyes early July FID

2023-06-29 17:25:29 ET

NextDecade ( NASDAQ: NEXT ) +5.1% post-market Thursday after saying it has received binding commitments from lenders in an amount sufficient, together with expected project equity funding, to support a positive final investment decision for Phase 1 of proposed the Rio Grande LNG export facility in Texas.

The lender group includes institutions from Asia, Europe, the Middle East and North America, the company said.

NextDecade ( NEXT ) said it has sold 16.2M metric tons/year of liquefied natural gas from Phase 1, or 92% of nameplate capacity, under long-term sale and purchase agreements.

The company said it is now targeting FID on Phase 1 in early July, with FIDs of its remaining trains to follow thereafter.

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