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NextDecade Corp. signed binding agreements with lenders to safe the greater than $10 billion in financing it must fund building of its Rio Grande LNG export venture in Texas and is aiming for a closing funding determination (FID) within the subsequent few weeks.

The Houston-based firm disclosed it has obtained commitments from a global consortium of lenders that may enable it to maneuver ahead with the 17.6 million metric ton/yr (mmty) first part of the Texas export venture.

“The lender group consists of the world’s main Asian, European, Center Japanese and North American venture finance banks,” representatives for the agency wrote in an announcement.

[Decision Maker: A real-time news service focused on the North American natural gas and LNG markets, NGI’s All News Access is the industry’s go-to resource for need-to-know information. Learn more.]

Because of the upcoming Independence Day vacation, the agency stated it’s focusing on FID on the primary three trains on its venture in early July. FID on the remaining two trains “may observe quickly after,” in keeping with NextDecade.

General, the export facility deliberate for Brownsville, TX is designed for a 27 mmty nameplate capability at full build-out. It may additionally incorporate a carbon seize, storage and sequestration venture, which is being commercialized individually.

Earlier within the month, NextDecade disclosed International Infrastructure Companions (GIP) and TotalEnergies would take vital fairness stakes within the venture. Complete additionally agreed to take 5.4 million metric tons/yr (mmty) of liquefied pure fuel from part 1 for 20 years.

NextDecade has positioned 16.2 mmty of LNG from part 1, or round 92% of nameplate capability, below contract.

The agency has been indiciating it may absolutely commercialize the venture by the center of the yr shortly after the Federal Vitality Regulatory Fee reaffirmed its authorization in April. The choice got here 18 months after the U.S. Court docket of Appeals for the District of Columbia Circuit ordered the Fee to overview its authorizations for Rio Grande and Glenfarne Group LLC’s Texas LNG.

If NextDecade proclaims FID subsequent month, it might be the third U.S. venture to take action this yr, following constructive selections to maneuver forward with Port Arthur LNG in Texas and the second part of Plaquemines LNG in Louisiana.

The put up NextDecade Secures Financing for Rio Grande LNG Section 1, Now Focusing on FID in Early July appeared first on Pure Gasoline Intelligence

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