NextDecade has executed a 15-year sale and purchase agreement (SPA) with Engie for the supply of LNG from NextDecade’s Rio Grande LNG export project in Brownsville, Texas (United States). Under the SPA, Engie will purchase 1.75 Mt/year of LNG on a free-on-board (FOB) basis. The LNG supply will be from the first two trains of Rio Grande LNG, with the first train expected to start commercial operations as early as 2026. NextDecade is developing the 27 Mt/year Rio Grande LNG export terminal in the Port of Brownsville; the project will include 5 liquefaction trains each capable of producing 5.4 Mt/year of LNG. A final investment decision (FID) on a minimum of two trains, which has been delayed several times, is now expected in the second half of 2022.
In March 2022, NextDecade executed a binding Heads of Agreement (HOA) with Guangdong Energy, a Chinese regional utility, for the long-term supply of LNG from NextDecade’s Rio Grande LNG export project. The HOA provides that Guangdong Energy will purchase up to 1.5 Mt/year of LNG indexed to Henry Hub for 20 years.
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