NEXT - NextDecade soars as Evercore ISI sees LNG export plant added to FERC docket

2023-04-14 16:11:17 ET

NextDecade ( NASDAQ: NEXT ) closed +9% in Friday's trading after Evercore ISI said the company's planned Rio Grande LNG export terminal is on the docket for the Federal Energy Regulatory Commission's April meeting.

NextDecade ( NEXT ) already has contracted 10.75M tons of offtake, and Rio Grande "appears to be one of the best positioned greenfield development LNG export projects" poised for a final investment decision in 2023, Evercore ISI's Sean Morgan said.

"It is rumored that commercial offtakers, prospective project equity backers, and the debt syndicate are all contingent on a new FERC authorization, which we believe could be approved at the April FERC meeting," Morgan wrote.

A FERC reauthorization might help NextDecade ( NEXT ) regain operational momentum, which should help the stock price performance, according to Morgan.

NextDecade ( NEXT ) has criticized FERC for "inexcusable delays" in reviewing information that would help it move ahead with the Rio Grande LNG project .

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