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NextDecade Corporation (“NextDecade”) (NASDAQ:NEXT) announced today that
the company’s Chief Operating Officer, René van Vliet, will retire as an
officer and director of the company effective October 1, 2018. Mr. van
Vliet will remain as an advisor to company until the end of 2018.
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Mr. van Vliet has helped position NextDecade to be one of the leading
second wave U.S. LNG companies by overseeing the front-end engineering
and design of the company’s Rio Grande LNG project and by helping
implement the competitive EPC process NextDecade announced today, which
will lead to a lump-sum turnkey EPC contract.
“Our board of directors and employees wish René all the best in his
retirement and appreciate his meaningful contributions to NextDecade,”
said Matt Schatzman, President and Chief Executive Officer.
NextDecade has initiated a global search for a new COO and intends to
conclude this process prior to year-end.
In addition, NextDecade announced that Ivan van der Walt has joined the
company as Project Manager, Rio Grande LNG. Effective on October 1,
2018, and until a new COO is appointed, Mr. van der Walt will report
directly to Mr. Schatzman. Mr. van der Walt will oversee all aspects of
project development, including the competitive EPC process NextDecade
announced earlier today.
Mr. van der Walt has nearly 25 years of experience in the oil and gas
industry, including senior roles with CB&I (now McDermott) and Chevron.
He was also previously the Chief Executive Officer of the Australasian
division of KNM Group, a leading EPC company headquartered in Kuala
“We are thrilled to have Ivan, a recognized leader in the industry,
serve in this critical role for NextDecade,” Schatzman added. “Ivan
brings a tremendous amount of knowledge and LNG project experience to
the Company, and we look forward to drawing on that experience in
developing our Rio Grande LNG project.”
# # #
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.
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
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
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