NextDecade to raise $85 million via private placement

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 EnergyChina GasENN, and France’s Engie.

- Advertisements -

Most Popular

Tellurian says Shell, Vitol LNG supply deals terminated

US LNG firm Tellurian, the developer of the Driftwood LNG export project in Louisiana, said on Friday that its...

UAE’s Adnoc to supply LNG to Germany’s RWE

UAE’s Adnoc and Germany's RWE have signed a supply deal on the first commercial LNG delivery to the Brunsbuettel...

CMES orders another LNG carrier duo at Dalian Shipbuilding, inks deal for more vessels

China Merchants Energy Shipping (CMES), a unit of China Merchants Group, has ordered two more 175,000-cbm LNG tankers from...

More News Like This

NextDecade pens long-term LNG supply deal with ExxonMobil

NextDecade, the developer of the Rio Grande LNG export plant in Texas, has signed a long-term deal to supply...

NextDecade inks long-term LNG supply deal with China’s Guangdong Energy

NextDecade, the developer of the Rio Grande LNG export plant in Texas, said it has finalized its previously announced...

NextDecade pens 20-year Rio Grande LNG supply deal with China Gas

NextDecade, the developer of the Rio Grande LNG export plant in Texas, has signed a long-term deal to supply...

NextDecade’s chief operating officer departs

NextDecade, developer of the Rio Grande LNG export plant in Texas, said that its chief operating officer, Ivan Van...