NextDecade Receives FERC Order for Rio Grande LNG Project

HOUSTON–(BUSINESS WIRE)–Nov. 21, 2019– NextDecade Corporation (NASDAQ: NEXT) announced today that the Federal Energy Regulatory Commission (FERC) has issued an order authorizing the siting, construction, and operation of NextDecade’s proposed Rio Grande liquefied natural gas (LNG) export facility in Brownsville, Texas and the associated Rio Bravo Pipeline.

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Artist Rendering of the Rio Grande LNG project (Photo: Business Wire)

“Issuance of the FERC order marks an extremely important milestone for our project,” said Matt Schatzman, NextDecade’s Chairman and Chief Executive Officer. “We appreciate the comprehensive and rigorous review of our project conducted by the FERC and numerous other federal, state and local agencies over the last four and a half years.”

NextDecade currently anticipates finalizing important commercial milestones during the fourth quarter of 2019 and first quarter of 2020, prior to an anticipated final investment decision (FID) in the first quarter of 2020. Construction of the facility is expected to commence shortly after FID with commercial operations slated for late 2023.

About NextDecade Corporation

NextDecade is a LNG development company focused on LNG export projects and associated pipelines in Texas. NextDecade intends to develop the largest LNG export solution linking Permian Basin associated gas to the global LNG market, creating value for producers, customers, and stockholders. Its portfolio of LNG projects includes the 27 mtpa Rio Grande LNG export facility in Brownsville, Texas and the 4.5 Bcf/d Rio Bravo Pipeline that would transport natural gas from the Agua Dulce area to Rio Grande LNG. NextDecade’s common stock is listed on the Nasdaq Stock Market under the symbol “NEXT.” NextDecade is headquartered in Houston, Texas. For more information, visit www.next-decade.com.