NextDecade announces US$50 million investment by Mubadala
Published by David Rowlands,
According to the statement, NextDecade will issue the common stock to Mubadala – an Abu Dhabi based sovereign investor – at US$6.27 per share.
Mubadala’s investment further strengthens NextDecade’s capital position as the company continues to develop its Rio Grande LNG project – the largest LNG export solution linking Permian Basin associated gas to the global LNG market.
Matt Schatzman, Chairman and Chief Executive Officer of NextDecade, said: “We are honoured to welcome Mubadala, a leading global investor, as a shareholder in our company.
“Mubadala brings a valuable perspective on large scale infrastructure investment and the growing role of LNG in the Middle East and other markets around the world. We look forward to a strong and lasting partnership.”
Khalifa Al Romaithi, Mubadala’s Executive Director, Midstream, added: “We are pleased to make this investment in NextDecade. We strongly believe that the Rio Grande LNG project is optimally positioned to provide a highly competitive export route for the abundant gas resources of the Permian Basin and a compelling commercial proposition for LNG customers, Permian producers and NextDecade shareholders alike. Our investment also reflects Mubadala’s positive outlook on the global gas market and the growing role of gas in the energy transition.”
As part of its investment in NextDecade, Mubadala will reportedly receive one seat on NextDecade’s board of directors. In addition to this, Mubadala will also have the right to contribute a certain amount of project-level capital upon the final investment decision of the Rio Grande LNG project.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/24102019/nextdecade-announces-us50-million-investment-by-mubadala/
You might also like
MEYER Group to reduce cruise ship emissions
MEYER Group has presented a cruise ship concept that uses LNG as fuel.