BROWNSVILLE — Houston-based NextDecade Corporation, one of three companies with plans to build liquefied natural gas export terminals at the Port of Brownsville, says it will make a major announcement on April 1 concerning its Rio Grande LNG project at the port.
The announcement is scheduled to take place at 10 p.m. CDT during the LNG2019 industry conference in Shanghai, China. NextDecade President and CEO Matt Schatzman will take part in the conference’s plenary sessions program on April 4 with a presentation titled “Business Models for a Competitive LNG Market.”
NextDecade announced on March 7 that Rio Grande LNG had entered into a lease agreement with the port for nearly 1,000 acres, with an initial term of 30 years, with two options to renew and extend the term of the lease by 10 years per option.
The company plans to build and operate a large-scale LNG plant that will liquefy natural gas from the Permian Basin. The gas would be transported to the port via the related Rio Bravo Pipeline, which NextDecade also plans to build, before being liquefied and exported to foreign markets, namely China.
Rio Grande LNG is the largest of the three LNG facilities proposed for the port. NextDecade says the export terminal and pipeline combined would entail an investment of more than $15 billion in Cameron County, and that it expects to make a “positive final investment decision” by the end of the third quarter of this year.