NextDecade and Bechtel Carry out Worth Replace for EPC Agreements | Enterprise
HOUSTON – (BUSINESS WIRE) – March 8, 2021 –
NextDecade Company (NextDecade or the Firm) (NASDAQ: NEXT) and Bechtel Oil, Gasoline, and Chemical compounds, Inc. (Bechtel) have accomplished a value replace of Turnkey Engineering, Provide and Development (LSTK) agreements ) totally built-in for the primary three trains of NextDecade’s Rio Grande LNG undertaking (EPC agreements), with no impression on the general price of the undertaking. Pricing in EPC agreements is now legitimate till December 31, 2021. As well as, NextDecade and Bechtel have agreed to increase the validity of EPC agreements till July 31, 2022.
“We admire our sturdy partnership with Bechtel, the world’s largest EPC LNG contractor,” stated Matt Schatzman, President and CEO of NextDecade. “Our international LNG clients, feed gasoline suppliers and different stakeholders can have the best confidence within the on-time and on-budget supply of our Rio Grande LNG undertaking. We’re happy to proceed to advance our engineering and procurement enterprise with restricted discover to proceed, and look ahead to offering Bechtel with full recommendation to proceed with the event of this world-class undertaking instantly following IDF.
NextDecade plans to make a remaining funding resolution on a minimal of two trains at Rio Grande LNG in 2021.
About NextDecade Company
NextDecade Company (NextDecade) is a liquefied pure gasoline (LNG) firm specializing within the supply of the Rio Grande 27 mtpa LNG export facility in South Texas. Rio Grande LNG would be the largest LNG export answer in the USA connecting Permian Basin and Eagle Ford Shale pure gasoline to the worldwide LNG market. Utilizing carbon seize and storage expertise and proprietary processes, NextDecade goals carbon neutrality at Rio Grande LNG. The frequent shares of NextDecade are listed on the Nasdaq Inventory Market below the image “NEXT”. NextDecade is headquartered in Houston, Texas. For extra data go to www.next-decade.com.
NextDecade Ahead-looking data
This press launch accommodates forward-looking statements throughout the which means of US federal securities legal guidelines. The phrases “anticipate”, “take into account”, “estimate”, “anticipate”, “plan”, “plan”, “intend”, “imagine”, “can”, “may”, “will” , “Would”, “may”, “ought to”, “might have”, “probably”, “proceed”, “conceive” and different phrases and phrases of comparable expressions are supposed to determine forward-looking statements, and these statements might relate to the actions of NextDecade and its subsidiaries. These statements are based mostly on NextDecade’s present assumptions, expectations and projections relating to future occasions and developments and contain quite a few identified and unknown dangers, which can trigger precise outcomes to vary materially from the expectations expressed or implied within the statements. forward-looking statements. These dangers embody uncertainties in regards to the progress within the growth of NextDecade’s LNG liquefaction and export initiatives and the timing of such progress; NextDecade’s remaining funding resolution (“FID”) within the development and operation of an LNG terminal on the Port of Brownsville in South Texas (the “Terminal”) and the timing of such resolution; the profitable completion of the terminal by third social gathering contractors and an roughly 137 mile pipeline to provide gasoline to the terminal below growth by a 3rd social gathering; the flexibility of NextDecade to safe further debt and fairness financing sooner or later to finish the terminal; the accuracy of the estimated prices for the terminal; statements that the Terminal, when accomplished, could have sure traits, together with portions of liquefaction capability; growth dangers, operational hazards, regulatory approvals relevant to development and operation actions of the terminal and third social gathering pipeline; NextDecade’s anticipated aggressive benefit and technological innovation that might render its anticipated aggressive benefit out of date; international demand and value of pure gasoline (relative to the worth of imported LNG); the provision of LNG ships world wide; modifications in legal guidelines and laws referring to the LNG business, together with environmental legal guidelines and laws that impose important prices and compliance duties; the 2019 novel coronavirus pandemic and its impression on NextDecade’s enterprise and working outcomes, together with any disruption to NextDecade’s operations or terminal growth and the well being and security of NextDecade workers, in addition to NextDecade clients, the worldwide economic system and the demand for LNG; dangers related to doing enterprise and having counterparties in international international locations; The power of NextDecade to keep up the itemizing of its securities on a inventory alternate or a list medium; modifications negatively affecting the exercise by which NextDecade is engaged; development administration; common financial circumstances; The power of NextDecade to generate money; compliance with environmental legal guidelines and laws; the result of future fundraising efforts and customary tax incentive calls for; and different issues mentioned within the “Threat Elements” part of NextDecade’s annual report on Kind 10-Okay for the fiscal yr ended December 31, 2019 and in different subsequent experiences filed with the Securities and Change Fee, that are all integrated herein by reference.
As well as, any growth of the terminal stays topic to concluding the required industrial agreements, acquiring all essential permits and approvals, securing all funding commitments and potential tax incentives, reaching different regular circumstances and making a remaining funding resolution. The forward-looking statements contained on this press launch converse as of the date of this press launch. Though NextDecade believes that the expectations mirrored in these forward-looking statements are cheap, it can provide no assurance that the expectations will show to be right. NextDecade might every so often voluntarily replace its prior forward-looking statements, nevertheless, it disclaims any dedication to take action, besides as required by securities legal guidelines.
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CONTACT: Patrick Hughes
+1 (832) 209-8131
KEYWORD: UNITED STATES NORTH AMERICA TEXAS
INDUSTRY KEYWORD: ENERGY OTHER ENERGY ENVIRONMENT OIL / GAS
SOURCE: NextDecade Company
Copyright Enterprise Wire 2021.
PUB: 03/08/2021 08:00 / DISC: 03/08/2021 08:01
Copyright Enterprise Wire 2021.