NextDecade signs $4.3 billion EPC contract with Bechtel for Rio Grande LNG

In Texas, NextDecade Corporation announced that its subsidiary, Rio Grande LNG Train 4, LLC, signed a $4.3 billion lump sum turnkey engineering, procurement, and construction contract with Bechtel Energy Inc. for the construction of Train 4 at the Rio Grande LNG Facility. The contract’s price validity extends through December 31, 2024.

NextDecade estimates the total project costs for Train 4, including owner’s costs, contingencies, financing fees, and interest during construction, to be approximately $6.0-$6.2 billion. This estimate aligns with the per train cost of the three-train Phase 1, currently under construction at the facility.

The company is targeting a positive Final Investment Decision for Train 4 in the second half of 2024, pending commercial support and adequate financing. This project is part of NextDecade’s broader goal to accelerate the transition to net-zero emissions by providing cleaner energy solutions through LNG and carbon capture technologies.

NextDecade’s CEO, Matt Schatzman, highlighted the significance of this project in advancing sustainable energy infrastructure. The Rio Grande LNG Facility aims to support global efforts to reduce carbon emissions while meeting the growing demand for cleaner energy.

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