NextDecade, SMBC team up for Rio Grande LNG
- Project & Tenders
Next Decade said it has engaged Sumitomo Mitsui Banking Corporation (SMBC) as financial advisor and mandated lead arranger for its Rio Grande LNG export project.
Under the agreement, SMBC will be responsible for securing debt financing for the project.
Kathleen Eisbrenner, Chairman and CEO of NextDecade, said, “As one of the world’s largest lenders in the LNG industry, SMBC boasts an impressive track record of successful energy project financing. Their commitment to our Project represents yet another NextDecade partnership that both strengthens and adds credibility to our efforts.”
SMBC joins a growing list of some of the biggest names in the LNG, energy and financing businesses working with NextDecade, including EPC giant, CB&I, global investment group, Jefferies LLC, and investors York Capital Management, Valinor Management, L.P. and Halcyon Energy Investors, L.P. who recently injected an additional $85 million investment into NextDecade.
SMBC will advise Rio Grande LNG, and ultimately lead the international banking syndicate, in securing long-term capital for the Project’s construction.
Rio Grande LNG is a land-based export project proposed for the Brownsville Ship Channel, located on the Texas Gulf Coast near Brownsville, Texas.
NextDecade’s project includes plans for up to 6 liquefaction trains with a nominal output capacity of 4.5 million tons of LNG per train per year.