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HOUSTON–(BUSINESS WIRE)–NextDecade Company (NextDecade) (NASDAQ: NEXT) introduced immediately the execution of a sale and buy settlement (SPA) with Galp Buying and selling S.A. (Galp), for the long-term provide of liquefied pure fuel (LNG) from NextDecade’s Rio Grande LNG (RGLNG) export challenge in Brownsville, Texas.
Below the 20-year SPA, Galp will buy 1.0 million tonnes each year (MTPA) of LNG listed to Henry Hub on a free-on-board foundation.
“We’re honored to have Galp, one among Portugal’s largest power corporations and a key participant within the Iberian Peninsula, as our buyer,” stated Matt Schatzman, NextDecade’s Chairman and Chief Govt Officer. “We look ahead to serving to Galp, in addition to different European corporations and their clients, meet their power wants by providing a lower-cost, dependable supply of LNG with decrease carbon-intensity.”
NextDecade is at the moment focusing on a optimistic Closing Funding Determination (FID) on the primary three trains of the RGLNG export challenge through the first quarter of 2023, with FIDs of its remaining trains to observe thereafter.
About NextDecade Company
NextDecade Company is an power firm accelerating the trail to a net-zero future. Main innovation in additional sustainable LNG and carbon seize options, NextDecade is dedicated to offering the world entry to cleaner power. By way of our wholly owned subsidiaries Rio Grande LNG and NEXT Carbon Options, we’re growing a 27 MTPA LNG export facility in South Texas together with one of many largest carbon seize and storage (CCS) tasks in North America. We’re additionally working with third-party clients world wide to deploy our proprietary processes to decrease the price of carbon seize and storage and cut back CO2 emissions at their industrial-scale amenities. NextDecade’s widespread inventory is listed on the Nasdaq Inventory Market underneath the image “NEXT.” NextDecade is headquartered in Houston, Texas. For extra data, please go to www.next-decade.com.
Ahead-Trying Statements
This press launch comprises forward-looking statements inside the which means of U.S. federal securities legal guidelines. The phrases “anticipate,” “ponder,” “estimate,” “count on,” “challenge,” “goal,” “plan,” “intend,” “imagine,” “could,” “would possibly,” “will,” “would,” “might,” “ought to,” “can have,” “probably,” “proceed,” “design,” “assume,” “price range,” “steerage,” and “forecast” and different phrases and phrases of comparable expressions are meant to establish forward-looking statements, and these statements could relate to the enterprise of NextDecade and its subsidiaries. These statements have been primarily based on assumptions and evaluation made by NextDecade in mild of present expectations, perceptions of historic developments, present circumstances and projections about future occasions and developments and contain quite a few identified and unknown dangers, which can trigger precise outcomes to vary materially from expectations expressed or implied within the forward-looking statements. These dangers embody NextDecade’s progress within the growth of its LNG liquefaction and export tasks and CCS tasks and the timing of that progress; the timing of attaining a closing funding resolution on the Rio Grande LNG terminal (the “Terminal”); reliance on third-party contractors to efficiently full the Terminal, the pipeline to provide fuel to the Terminal and any CCS tasks; capability to develop NCS’ enterprise although implementation of CCS tasks; capability to safe extra debt and fairness financing sooner or later to finish the Terminal and CCS tasks on commercially acceptable phrases; accuracy of estimated prices for the Terminal and CCS tasks; capability to attain operational traits of the Terminal and CCS tasks, when accomplished, together with liquefaction capacities and quantity of CO2 captured and saved, and any variations in such operational traits from expectations; growth dangers, operational hazards and regulatory approvals relevant to NextDecade’s growth, development and operation actions and people of its third-party contractors and counterparties; technological innovation which can reduce NextDecade’s anticipated aggressive benefit or demand for its choices; international demand for and worth of LNG; availability of LNG vessels worldwide; adjustments in laws and laws referring to the LNG and CCS industries, together with environmental legal guidelines and laws that impose vital compliance prices and liabilities; scope of implementation of carbon pricing regimes geared toward decreasing greenhouse fuel emissions; international growth and maturation of emissions discount credit score markets; antagonistic adjustments to present or proposed carbon tax incentive regimes; international pandemics, together with the 2019 novel coronavirus pandemic, the Russia-Ukraine battle, different sources of volatility within the power markets and their affect on NextDecade’s enterprise and working outcomes, together with any disruptions in its operations or growth of the Terminal and the well being and security of its staff, and on its clients, the worldwide economic system and the demand for LNG; dangers associated to doing enterprise in and having counterparties in international nations; NextDecade’s capability to keep up the itemizing of our securities on the Nasdaq Capital Market or one other securities change or citation medium; adjustments adversely affecting the companies wherein NextDecade is engaged; administration of development; basic financial circumstances; capability to generate money; and the results of future financing efforts and functions for customary tax incentives; and different issues mentioned within the “Danger Components” part of NextDecade’s most up-to-date Annual Report on Kind 10-Okay and subsequent experiences filed with the Securities and Change Fee. Moreover, any growth of the Terminal or CCS tasks stays contingent upon finishing required business agreements, securing all financing commitments and potential tax incentives, attaining different customary circumstances and making a closing funding resolution to proceed. The forward-looking statements on this press launch communicate as of the date of this launch. Though NextDecade believes that the expectations mirrored in these forward-looking statements are affordable, it can provide no assurance that the expectations will show to be right. NextDecade could once in a while voluntarily replace its prior forward-looking statements, nonetheless, it disclaims any dedication to take action besides as required by securities legal guidelines.
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