NextDecade Corp. has announced that its subsidiaries have finalised a pricing refresh of the company’s lump-sum, turnkey EPC contract with Bechtel Energy Inc. for the construction of Train 4 and related infrastructure at the Rio Grande LNG Facility and executed a lump-sum, turnkey EPC contract with Bechtel for the construction of Train 5 and related infrastructure at the Rio Grande LNG Facility.
Rio Grande LNG Train 4, LLC has agreed to pay Bechtel approximately US$4.77 billion for the work under the EPC contract for Train 4. Pricing validity under the Train 4 EPC contract extends through 15 September 2025. NextDecade currently projects that owner’s costs, contingencies, financing fees and interest during construction will total approximately US$1.8 – US$2 billion for Train 4 and supporting infrastructure, based on current estimates and expected interest rates.
Rio Grande LNG Train 5, LLC has agreed to pay Bechtel approximately US$4.32 billion for the work under the EPC contract for Train 5. Pricing validity under the Train 5 EPC contract extends through 15 September 2025. NextDecade currently projects that owner’s costs, contingencies, financing fees and interest during construction will total approximately US$1.8 — US$2 billion for Train 5 and supporting infrastructure, based on current estimates and expected interest rates.
Commercialisation of Train 4 is complete, and the company has started the financing process for Train 4 and related infrastructure. Subject to obtaining adequate financing, NextDecade expects to achieve a positive FID on Train 4 before the end of the pricing validity period for the Train 4 EPC contract.