The Emirati company ADNOC has signed agreements for LNG offtake and the acquisition of an equity position in the Rio Grande LNG (RGLNG) export project located in Brownsville, in the US State of Texas. ADNOC has thus acquired an 11.7% stake in Phase 1 of NextDecade’s project (which comprises trains 1 through 3). In addition, the company has entered into a 20-year LNG offtake agreement from the RGLNG Train 4 with NextDecade for 1.9 Mt/year of LNG on a free-on-board basis, subject to a final investment decision (FID).
In July 2023, NextDecade had made a positive FID on the first three trains of the 27 Mt/year RGLNG project. The first phase of the project, led by NextDecade and Global Infrastructure Partners (GIP), is expected to start operations in 2027. In June 2023, NextDecade also entered into an agreement with TotalEnergies, which joined the RGLNG project with a 16.7% interest in the first phase and will offtake 5.4 Mt/year of LNG over a 20-year period.
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