NextDecade Receives FERC Scheduling Notice for Rio Grande LNG
September 04 2018 - 08:00AM
Business Wire
NextDecade Corporation (“NextDecade”) (NASDAQ: NEXT) announced
today that the Federal Energy Regulatory Commission (“FERC”) has
issued a notice of schedule for environmental review of
NextDecade’s Rio Grande LNG project in South Texas, as well as the
associated Rio Bravo Pipeline to originate in the Agua Dulce
area.
According to the notice, FERC will issue its final Environmental
Impact Statement (EIS) on April 26, 2019, based on issuance of a
draft EIS in October 2018. FERC has established a 90-day Federal
Authorization Decision Deadline on July 25, 2019.
Assuming a favorable FERC order, NextDecade anticipates a final
investment decision on the project in 3Q 2019.
Rio Grande LNG and Rio Bravo Pipeline regulatory
timeline
Section 3(a) & 7(c) FERC
Application May 5, 2016 Draft Environmental Impact
Statement October 2018 Final Environmental Impact
Statement April 26, 2019 Federal Authorization
Decision Deadline July 25, 2019
About NextDecade Corporation
NextDecade is an LNG development company focused on LNG export
projects and associated pipelines in Texas. NextDecade intends to
develop a portfolio of LNG projects, including the 27 mtpa Rio
Grande LNG export facility in Brownsville, Texas and the 4.5 Bcf/d
Rio Bravo Pipeline that would transport natural gas from the Agua
Dulce area to Rio Grande LNG. NextDecade’s common stock is listed
on the Nasdaq Capital Market under the symbol “NEXT.” NextDecade is
headquartered in The Woodlands, Texas.
Located at the Port of Brownsville in South Texas, NextDecade’s
Rio Grande LNG project is expected to be a leader among second wave
U.S. LNG projects. NextDecade believes its customers and
shareholders will benefit from the project’s experienced
leadership, proven approach, and optimal location. NextDecade’s
technology selections are expected to foster operational
reliability and afford NextDecade’s customers access to reliable,
low-cost, abundant natural gas from the Permian Basin, Eagle Ford
Shale, and other basins.
Learn more at www.next-decade.com.
CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING
STATEMENTS
This press release contains forward-looking statements within
the meaning of U.S. federal securities laws. The words “believe,”
“expect,” “intend,” “plan,” “potential,” and similar expressions
are intended to identify forward-looking statements, and these
statements may relate to the business of the Company and its
subsidiaries. These statements have been based on the Company’s
current assumptions, expectations, and projections about future
events and involve a number of known and unknown risks, which may
cause actual results to differ materially from expectations
expressed or implied in the forward-looking statements. These risks
include uncertainties about the Company’s Rio Grande LNG and Rio
Bravo pipeline projects and other matters discussed in the “Risk
Factors” section of the Company’s Annual Report on Form 10-K for
the year ended December 31, 2017 and other subsequent reports filed
with the Securities and Exchange Commission, all of which are
incorporated herein by reference.
Any development of the projects remain contingent upon
completing required commercial agreements; acquiring all necessary
permits and approvals; securing all financing commitments and
potential tax incentives; achieving other customary conditions; and
making a final investment decision to proceed. The forward-looking
statements in this press release speak as of the date of this
release. Although the Company believes that the expectations
reflected in these forward-looking statements are reasonable, the
Company can give no assurance that the expectations will prove to
be correct. The Company may from time to time voluntarily update
its prior forward-looking statements, however, it disclaims any
commitment to do so except as required by securities laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20180904005211/en/
NextDecadeInvestors:Patrick Hughes+1
(832) 209-8131phughes@next-decade.comorMedia:Ashley
Helmer+1 (281) 249-5453ahelmer@next-decade.com
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