NextDecade announces 1.5 MTPA LNG sale, purchase pact with TotalEnergies

NextDecade (NEXT) announced that TotalEnergies (TTE) has exercised its LNG purchase option with respect to Train 4 at the Rio Grande LNG Facility, and subsidiaries of both companies have executed a long-term liquefied natural gas sale and purchase agreement for offtake from Train 4. Under the terms of the SPA, TotalEnergies Gas & Power North America, Inc. will purchase 1.5M tons per annum of LNG for 20 years on a free-on-board basis at a price indexed to Henry Hub, subject to a positive Final Investment Decision on Train 4. NextDecade has contracted a total of 4.6 MTPA of LNG from Train 4 on a long-term basis and expects existing long-term commercial agreements to be sufficient to support a positive FID on Train 4. Achieving a positive FID on Train 4 will be subject to, among other things, obtaining adequate financing to construct Train 4 and related infrastructure.