NEXT - NextDecade unveils 20-year LNG supply deal with China Gas

NextDecade ( NASDAQ: NEXT ) +2.2% pre-market after announcing on Tuesday that China Gas agreed to buy 1M tons/year of liquefied natural gas from its planned Rio Grande LNG export project in Texas.

NextDecade ( NEXT ) said the LNG will be supplied from the second train at Rio Grande LNG, which is expected to start commercial operations as early as 2027.

China Gas is one of China's largest natural gas distribution companies, supplying ~43M households.

Based on current expected demand for LNG, NextDecade ( NEXT ) anticipates making a positive final investment decision on up to three trains of the Rio Grande project in this year's H2.

In April, NextDecade ( NEXT ) reached a deal to sell 1.5M tons/year of LNG to Chinese energy company ENN under a 20-year contract .

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