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NextDecade will take FID on Rio Grande LNG in 2020

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LNG Industry,

According to the latest Reuters report, NextDecade has reaffirmed that it still intends to make a final investment decision (FID) on its Rio Grande LNG export plant in 2020, in response to reports of a delay to the process.

The confusion regarding a delay to the FID originated from a filing by NextDecade with US securities regulators late on Friday 8 May. The filing was made with regards to a delay in the company releasing its quarterly earnings report until 18 May, from the original deadline of 11 May.

Within the filing, in compliance with federal guidance, the company included a COVID-19 risk factor describing the potential impacts of the pandemic on its business. The impacts listed included a possible delay to the Rio Grande LNG FID.

In an email to Reuters, a NextDecade spokeswoman reportedly clarified the current situation regarding the FID schedule, saying that in its recent filing the company did not provide an update on its project’s FID timing.

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