NextDecade and Galp execute 1 million tpy sale and purchase agreement
Published by Abi Larkin,
Editorial Assistant
LNG Industry,
NextDecade Corporation (NextDecade) has announced the execution of a sale and purchase agreement (SPA) with Galp Trading S.A. (Galp) for the long-term supply of LNG from NextDecade’s Rio Grande LNG (RGLNG) export project in Brownsville, Texas, the US.
Under the 20-year SPA, Galp will purchase 1 million tpy of LNG indexed to Henry Hub on a FOB basis.
“We are honoured to have Galp, one of Portugal’s largest energy companies and a key player in the Iberian Peninsula, as our customer,” said Matt Schatzman, NextDecade’s Chairman and Chief Executive Officer. “We look forward to helping Galp, as well as other European companies and their customers, meet their energy needs by offering a lower-cost, reliable source of LNG with lower carbon-intensity.”
NextDecade is currently targeting a positive final investment decision (FID) on the first three trains of the RGLNG export project during 1Q23, with FIDs of its remaining trains to follow thereafter.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/21122022/nextdecade-and-galp-execute-1-million-tpy-sale-and-purchase-agreement/
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