NextDecade Receives Draft Environmental Impact Statement for Rio Grande LNG
October 12 2018 - 1:49PM
Business Wire
NextDecade Corporation (“NextDecade”) (NASDAQ: NEXT) announced
today that the Federal Energy Regulatory Commission (“FERC”) has
issued a draft environmental impact statement (“EIS”) for
NextDecade’s Rio Grande LNG project in South Texas, as well as the
associated Rio Bravo Pipeline to originate in the Agua Dulce
area.
The draft EIS issued today was prepared in accordance with
statutory requirements in the National Environmental Policy Act.
FERC is the primary agency responsible for the review and
permitting of LNG facilities in the United States. FERC’s rigorous
process includes a detailed review of environmental, engineering,
social, and other elements of proposed projects.
“We appreciate the FERC staff’s continued commitment to the
review of our project,” said Matt Schatzman, NextDecade’s President
and Chief Executive Officer. “The draft EIS represents a
culmination of several years of analysis and evaluation in
conjunction with multiple federal, state, and local agencies and
stakeholders.”
Mr. Schatzman continued, “This milestone brings us one step
closer to achieving a final investment decision on the Rio Grande
LNG project, to creating thousands of jobs in the Rio Grande Valley
and communities throughout the State of Texas, and to delivering
reliable energy solutions to our customers around the world.”
According to the notice of schedule FERC published in August
2018, FERC will issue a final EIS on April 26, 2019. FERC has
established a 90-day Federal Authorization Decision Deadline of
July 25, 2019. Assuming a favorable FERC order, NextDecade
anticipates a final investment decision on the project in the third
quarter of 2019.
Rio Grande LNG and Rio Bravo Pipeline regulatory
timeline
Section 3(a) &
7(c) FERC Application May 5,
2016 Notice of Schedule of Environmental Review
August 31, 2018 Draft Environmental Impact
Statement October 12, 2018 Final
Environmental Impact Statement
April 26, 2019 Federal Authorization Decision Deadline
July 25, 2019
About NextDecade Corporation
NextDecade is an LNG development company primarily 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 Stock Market under the symbol “NEXT.”
NextDecade is headquartered in Houston, 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 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 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/20181012005397/en/
NextDecade CorporationInvestors:Patrick Hughes, +
1 (832) 209 8131phughes@next-decade.comorMedia:Ashley
Helmer, + 1 (281) 249 5453ahelmer@next-decade.com
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