NextDecade has named GE Oil & Gas as the exclusive supplier of gas turbine and compressor equipment for the Rio Grande LNG project’s liquefaction trains, as well as the associated Rio Bravo Pipeline.
The gas turbine and compressor equipment supplied by GE will also include long-term services, lifecycle maintenance agreements, and GE performance guarantees. In addition to this, the company is also providing NextDecade with a common equity investment, and is granted the right to invest up to a specified amount in project-level equity and debt financing for Rio Grande LNG at the time of the final investment decision (FID).
The Chief Executive Officer of NextDecade, Kathleen Eisbrenner, said: “NextDecade is delighted to welcome GE Oil & Gas as both a shareholder and exclusive supplier to its Rio Grande LNG and Rio Bravo Pipeline projects.
“We believe GE will add significant value as we work to make Rio Grande LNG one of the most competitive liquefaction projects in the world. The addition of GE Oil & Gas reaffirms our commitment to use proven technology to provide our customers with low-cost, reliable LNG.”
Earlier in April 2017, NextDecade released a statement claiming that it had entered into a definitive merger agreement with Harmony Merger Corp. – a publicly traded special purpose acquisition company (SPAC), which takes companies public via a reverse merger. The proposed merger was originally announced on 13 March 2017, and is expected to close in 2Q17. Consummation of the proposed merger will result in NextDecade becoming a publicly listed company.
Read the article online at: https://www.lngindustry.com/liquefaction/26042017/ge-to-provide-gas-turbine-and-compressor-equipment-for-rio-grande-lng/