NextDecade Gets US Approval for Rio Grande LNG Export Facility
- Business & Finance
The US 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 Texas and the associated Rio Bravo Pipeline.
The 984-acre facility will be located in the Port of Brownville and have a total capacity of 27 million tons per annum.
The LNG terminal site would be able to receive and load up to two vessels simultaneously. Once the facility becomes operational, about 312 LNG carriers would call on the terminal per year — about six LNG carriers per week.
“Issuance of the FERC order marks an extremely important milestone for our project,” Matt Schatzman, NextDecade’s Chairman and Chief Executive Officer, said.
“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 the 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.