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Societe Generale and Macquarie Capital to act as financial advisors for Rio Grande LNG

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LNG Industry,

NextDecade LLC has announced that it has appointed Societe Generale and Macquarie Capital to act as joint financial advisors in conjunction with the anticipated debt and equity financing for the consutrction of its Rio Grande LNG and Rio Bravo Pipeline projects.

Brent Wahl, Senior Managing Director at Macquarie Capital, said: “We are pleased to bring our expertise to NextDecade as they move towards their final investment decision.

“NextDecade’s commitment to proven technology along with their strong industry and commercial relationships make Rio Grande an attractive LNG project.”

Both Societe Generale and Macquarie Capital have played large roles in advising and participating in debt and equity financing for large scale infrastructure and LNG projects. To date, Societe Generale has acted as Joint Lead Arranger for financing and development of all LNG projects that have been commissioned in North America. For two of these LNG projects, it has served as the Sole Financial Advisor, and helped the sponsors to raise approximately US$25 billion in capital.

Globally, Societe Generale has worked on more than 45 transactions in the LNG sector. Macquarie Capital, meanwhile, is a key player in infrastructure advisory, with significant experience in the LNG sector, including raising over US$3 billion of equity and mezzanine financing on Freeport LNG (Trains 1 – 3) in Project Finance International’s 2014 Deal of the Year (Americas).

Ben Atkins, NextDecade CFO, said: “Societe Generale and Macquarie Capital’s combined experience and collaborative approach will help ensure that NextDecade optimises its cost of capital and minimises its execution risk.”

The pre-filing application for Rio Grande LNG was submitted by NextDecade with the US Federal Energy Regulatory Commission (FERC) in March 2015, with the formal application submitted in May 2016. The project is being permitted for up to six liquefaction trains, each with a nominal output capacity of 4.5 million tpy. In August 2016, the company was authorised by the US Department of Energy (DOE) to export up to 27 million tpy of LNG for a 30-year term.

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