NextDecade issues US$15 million in common stock to Bechtel

Published by David Rowlands, Editor
LNG Industry, Thursday, 03 October 2019 09:00

NextDecade Corp. has announced today that it has issued US$15 million of common stock to an affiliate of Bechtel Oil, Gas and Chemicals.

According to the statement, NextDecade issued the common stock to Bechtel at US$7.08 per share.

In May this year, NextDecade signed contracts with Bechtel for the engineering, procurement, and construction (EPC) of the first three trains of its Rio Grande LNG project.

As part of these contracts, Bechtel had previously agreed to accept up to US$15 million in NextDecade common stock in consideration for certain activities. The share price was calculated in accordance with terms of the transaction with Bechtel.

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/03102019/nextdecade-issues-us15-million-in-common-stock-to-bechtel/

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