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Pricing refresh completed for Rio Grande LNG project agreements

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LNG Industry,

NextDecade Corporation and Bechtel Oil, Gas, and Chemicals, Inc. have completed a pricing refresh on the fully wrapped lump-sum turnkey (LSTK) engineering, procurement, and construction agreements for the first three trains at NextDecade’s Rio Grande LNG project (EPC Agreements) resulting in no impact to the overall cost of the project. The pricing in the EPC Agreements is now valid until 31 December 2021. Additionally, NextDecade and Bechtel agreed to extend the validity of the EPC Agreements until 31 July 2022.

“We value our strong partnership with Bechtel, the world’s leading LNG EPC contractor,” said Matt Schatzman, NextDecade’s Chairman and Chief Executive Officer. “Our global LNG customers, feedgas suppliers, and other stakeholders can have the utmost confidence in the on-time and on-budget delivery of our Rio Grande LNG project. We are pleased to continue to progress our engineering and procurement activities under limited notices to proceed, and we look forward to providing Bechtel with a full notice to proceed with the development of this world-class project immediately following FID.”

NextDecade anticipates achieving a Final Investment Decision on a minimum of two trains at Rio Grande LNG in 2021.

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