NextDecade has secured $1.8bn funding from TotalEnergies and Global Infrastructure Partners [GIP] who will be joint venture partners at Rio Grande LNG Train 4 in Brownsville, Texas.
GIP will pay $1.5bn for a 50% stake and TotalEnergies $300m for a 10% stake, according to a US Securities & Exchange Commission filing, while NextDecade will invest $1.2bn. The agreement is subject to final investment decision (FID) which NextDecade is targeting in September.
If Train 4 reaches “certain returns on investment”, NextDecade’s stake would rise to 60% and GIP’s would fall to 30%.
Under a sale and purchase agreement signed in April, (mtpa) 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 (FID) on Train 4.
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