The US-based energy company EQT has signed a 20-year sale and purchase agreement (SPA) for 1.5 Mt/year of LNG from NextDecade’s Rio Grande LNG export facility in Texas (United States). The deal will be on a free-on-board (FOB) basis, with pricing indexed to the Henry Hub benchmark. It is contingent upon NextDecade reaching a positive final investment decision (FID) on Train 5.
NextDecade has announced that 3.5 Mt/year of LNG from Train 5 have been sold under 20-year Sales and Purchase Agreements (SPAs). It is targeting an additional 1 Mt/year under a long-term SPA to support a positive FID on Train 5. NextDecade expects to complete the commercialization of Train 5 in the third quarter of 2025 and, subject to securing adequate financing, reach a positive FID on Train 5 in the fourth quarter of 2025. The company also continues to expect a positive FID on Train 4 of the Rio Grande LNG project by 15 September 2025, also contingent on obtaining sufficient financing.
The company is currently building the first phase of its Rio Grande LNG project, including three liquefaction trains with a combined capacity of 17.6 Mt/year. Operations are expected to begin in 2027, with the potential to expand total capacity to 27 Mt/year.
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