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Involves over 1 million tons per year of LNG
NextDecade Corporation (NextDecade) is executing a 15-year sale and purchase agreement (SPA) with Itochu Corporation (Itochu) for the supply of liquefied natural gas (LNG) from NextDecade’s Rio Grande LNG (RGLNG) export project in Brownsville, Texas. Under the SPA, ITOCHU will purchase 1 million tonnes per annum of LNG indexed to Henry Hub on a free-on-board basis. NextDecade is currently targeting a positive Final Investment Decision (FID) on the first three trains of the RGLNG export project during the first quarter of 2023, with FIDs of its remaining trains to follow thereafter.