AmericasCorporateLNG Terminals

NextDecade to raise $85 million via private placement

By LNG Prime Staff
NextDecade to raise $85 million via private placement
For illustration only (Image: NextDecade)

NextDecade, the developer of the 27 mtpa Rio Grande LNG export plant in Texas, has launched an $85 million private placement as it looks to take a final investment decision on the project’s first three liquefaction trains.

The Houston-based firm said in a statement it would sell $85 million of common stock at $5.50 per share to 10 institutional investors.

NextDecade expects the private placement to close on September 19, 2022, subject to the satisfaction of customary closing conditions.

It plans to use the proceeds from the private placement to “continue development activity in preparation for its anticipated positive final investment decision on the first three trains at its Rio Grande LNG project.”

NextDecade previously said it anticipates making a positive FID on up to three trains of the Rio Grande LNG export project in the second half of 2022, with FIDs of its remaining trains to follow thereafter.

The firm signed several LNG supply deals this year, including the most recent deal with ExxonMobil.

Prior to this contract, NextDecade signed contracts with China’s Guangdong Energy, China Gas, ENN, and France’s Engie.

Most Popular

LNG Terminals

Venture Global seeks FERC OK for CP2 LNG expansion

US LNG exporter Venture Global LNG has filed a new application with the US FERC seeking approval to add approximately 11.7 million metric tonnes per annum of capacity at its CP2 LNG project in Louisiana.
Corporate

Australia’s Woodside denies takeover talks with ExxonMobil

Australian LNG player Woodside said on Monday that it is not in discussions with US energy giant ExxonMobil regarding a potential transaction following media reports.
LNG Terminals

Cheniere completes sixth train at Corpus Christi expansion project

US LNG exporter Cheniere has reached substantial completion of the sixth liquefaction train at the Corpus Christi Stage 3 expansion project in Texas.

More News Like This

Corporate

NextDecade appoints new finance chief

US LNG developer NextDecade has appointed John Zuklic as the company’s new chief financial officer, effective July 6.
LNG Terminals

NextDecade seeks FERC OK for sixth Rio Grande LNG train

US LNG developer NextDecade is seeking approval from the Federal Energy Regulatory Commission to build and operate the sixth liquefaction train and an additional marine berth at its Rio Grande LNG terminal in the Port of Brownsville, Texas.
LNG Terminals

NextDecade’s Rio Grande LNG secures FERC extension

NextDecade's Rio Grande LNG has secured a three-year extension from the US FERC to complete construction and place into service five trains at its LNG export plant in Texas.
Vessels

NextDecade to charter more vessels to ship Rio Grande LNG volumes

US LNG developer NextDecade expects to charter more LNG carriers to ship volumes from its Rio Grande LNG terminal in Texas, while the company is also expecting to take a final investment decision on the sixth train in the second half of next year, according to Matt Schatzman, NextDecade chairman and CEO.