NextDecade signs 20-year LNG supply deal with EQT

Under the agreement, EQT will purchase 1.5 million tpy of LNG from NextDecade on a free on board basis at a price indexed to Henry Hub.

Sept. 4, 2025

2 min read

NextDecade Rio Grande LNG rendering — NextDecade Corp., Houston, has signed a 20-year LNG agreement with EQT Corp. for offtake from Rio Grande LNG Train 5.

NextDecade Corp., Houston, has signed a 20-year LNG agreement with EQT Corp. for offtake from Rio Grande LNG Train 5.

The company is developing the Rio Grande LNG liquefaction plant on the north shore of the Brownsville Ship Channel in south Texas.

Under the agreement, EQT will purchase 1.5 million tonnes/year (tpy) of LNG for 20 years on a free on board basis at a price indexed to Henry Hub, subject to NextDecade making a positive final investment decision (FID) on Train 5.

NextDecade has also extended the price validity period under its lump-sum turnkey engineering, procurement, and construction (EPC) contract with Bechtel Energy Inc. for Train 5 until Nov. 15, 2025. The total costs for Rio Grande LNG Train 5 and related infrastructure are expected to be about $6.7 billion.

NextDecade has signed agreements for a total of 3.5 million tpy of LNG from Train 5 sold under 20-year LNG deals and is targeting an additional 1.0 million tpy sold under a long-term agreement to support a positive FID on Train 5.

The company expects to complete commercialization of Train 5 in this year’s third quarter, and subject to obtaining adequate financing, expects to achieve a positive FID in the following quarter, prior to expiration of the revised EPC price validity period.

NextDecade also continues to expect to achieve a positive FID on Rio Grande LNG Train 4 by Sept. 15, 2025, subject to obtaining adequate financing.