In a historic move, U.S. energy company NextDecade has greenlighted an FID for Phase 1 of its Rio Grande LNG (RGLNG) export facility in Brownsville, Texas.
Pulling in $5.9 billion in financial commitments from Global Infrastructure Partners, GIC, Mubadala Investment Company, and TotalEnergies, this investment highlights the future of LNG.
With the largest greenfield energy project financing in U.S. history – a total of $18.4 billion – the Phase 1 RGLNG project is testament to how gas will play a role in our energy future.
With a nameplate liquefaction capacity of 17.6 MTPA, Phase 1 has already secured long-term sale and purchase agreements (SPAs) with heavyweight industry players such as TotalEnergies, Shell NA LNG, ExxonMobil LNG Asia Pacific, and others.
Stay tuned as we wait and see what this means for the energy industry.