NEXT - Why NextDecade Stock Is Skyrocketing Today
Shares of NextDecade (NASDAQ: NEXT) soared more than 20% by 10:30 a.m. ET on Wednesday. Fueling the liquefied natural gas (LNG) company 's rally was another deal with a Chinese LNG buyer. That put the company another step closer to moving forward with its Rio Grande LNG project.
NextDecade signed a 20-year purchase and sales agreement with ENN, a large Chinese energy company. ENN will buy 1.5 million metric tons of LNG per year from NextDecade's proposed Rio Grande LNG export project in Texas. It would purchase the supplies from the first two LNG liquefaction trains at the facility, which NextDecade expects will start commercial operations by early 2026.
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Why NextDecade Stock Is Skyrocketing Today