NextDecade Corp., Houston, will receive a capital boost from Mubadala Investment Co., sovereign investment firm of Abu Dhabi, as it moves toward a final investment decision on the Rio Grande LNG project in Brownsville, Tex. (OGJ Online, Sept. 18, 2019).
The companies have agreed to the purchase by Mubadala of $50 million of NextDecade common stock in a private placement.
NextDecade awaits final approval by the Federal Energy Regulatory Commission for its 27-million-tonne/year Rio Grand project, which will liquefy natural gas from the Permian basin and Eagle Ford shale. It expects to make a final decision about project investment in the first quarter next year.
It’s working with Enbridge Inc. on the possible construction of the Rio Bravo Pipeline, twin 42-in. pipelines to carry as much as 4.5 bcfd of natural gas 137 miles from the Agua Dulce area of Texas to Rio Grande LNG.
NextDecade also has made initial federal regulatory filings for a 16.5-million-tonne/year liquefaction plant proposed at Texas City called Galveston Bay LNG.
