NextDecade finalizes EPC contract refresh for Train 4, executives Train 5 deal

NextDecade (NEXT) Corporation announced that its subsidiaries have finalized a pricing refresh of the company’s lump-sum, turnkey engineering, procurement and construction contract with Bechtel Energy Inc. for the construction of Train 4 and related infrastructure at the Rio Grande LNG Facility and executed a lump-sum, turnkey EPC contract with Bechtel for the construction of Train 5 and related infrastructure at the Rio Grande LNG Facility. Rio Grande LNG Train 4, LLC has agreed to pay Bechtel approximately $4.77B for the work under the EPC contract for Train 4. Pricing validity under the Train 4 EPC contract extends through September 15, 2025. NextDecade currently projects that owner’s costs, contingencies, financing fees and interest during construction will total approximately $1.8B-$2B for Train 4 and supporting infrastructure, based on current estimates and expected interest rates. Rio Grande LNG Train 5, LLC has agreed to pay Bechtel approximately $4.32B for the work under the EPC contract for Train 5. Pricing validity under the Train 5 EPC contract extends through September 15, 2025. NextDecade currently projects that owner’s costs, contingencies, financing fees and interest during construction1 will total approximately $1.8B-$2B for Train 5 and supporting infrastructure, based on current estimates and expected interest rates.