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

QatarEnergy, ExxonMobil expect first LNG from Golden Pass plant in H1 2025

Energy giants QatarEnergy and ExxonMobil are expecting to start LNG production at their Golden Pass LNG export terminal on...

Nigeria’s NNPC teams up with China’s Wison on floating LNG project

State-run Nigerian National Petroleum Corp is joining forces with China's Wison to develop a floating LNG production project in...

Trinidad seals Atlantic LNG restructuring deal with Shell and BP

Trinidad and Tobago has finally signed a restructuring deal with the shareholders of LNG producer Atlantic LNG, Shell, BP,...

More News Like This

ABB bags Rio Grande LNG gig

Swiss engineering group ABB has won a contract from Bechtel to provide automation and other solutions for NextDecade’s Rio...

NextDecade plans to take FID on fourth Rio Grande LNG train in H2 2024

US LNG firm NextDecade is planning to take a final investment decision to build the fourth liquefaction train at...

NextDecade officially kicks off Rio Grande LNG work

US LNG firm NextDecade has officially started building the first phase of its Rio Grande LNG export project in...

NextDecade gets $356 million loan for Rio Grande LNG

US LNG firm NextDecade has secured a loan worth $356 million to finance a portion of the first phase...