TCEQ Commissioners Vote to Approve Air Permits for NextDecade’s Rio Grande LNG Project
December 12 2018 - 6:28PM
Business Wire
NextDecade Corporation (“NextDecade”) (NASDAQ: NEXT) announced
today that the Texas Commission on Environmental Quality (“TCEQ”)
voted to issue a series of air permits to NextDecade’s Rio Grande
LNG project in South Texas (TCEQ Docket No. 2018-1304-AIR).
“We appreciate the TCEQ’s commitment to the review of our
project and are pleased to achieve another significant milestone in
our efforts to deliver a safe and reliable LNG facility,” said Matt
Schatzman, NextDecade’s President and Chief Executive Officer. “We
look forward to bringing thousands of jobs to the Rio Grande Valley
and communities throughout the State of Texas, and to facilitating
access to clean-burning, U.S.-produced natural gas for our
customers around the world.”
During today’s meeting, TCEQ Commissioners voted to issue Air
Quality Permit No. 104792, PSD Air Quality Permit No. PSDTX1498,
and GHGPSD Air Quality Permit No. GHGPSDTX158. In addition, all
requests for hearing and a motion for reconsideration were
denied.
The Rio Grande LNG project also remains subject to review by the
Federal Energy Regulatory Commission (“FERC”), which is the primary
and coordinating agency responsible for the permitting of U.S. LNG
projects.
FERC issued a draft environmental impact statement (“EIS”) on
the Rio Grande LNG project and associated Rio Bravo Pipeline on
October 12, 2018. A final EIS will be issued on April 26, 2019.
FERC has established a 90-day Federal Authorization Decision
Deadline of July 25, 2019. NextDecade anticipates a final
investment decision on the project in the third quarter of
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20181212005910/en/
For further information:Media: Ashley Helmer | + 1
(281) 249 5453 | ahelmer@next-decade.comInvestors: Patrick
Hughes | + 1 (832) 209 8131 | phughes@next-decade.com
NextDecade (NASDAQ:NEXT)
Historical Stock Chart
From Aug 2024 to Sep 2024
NextDecade (NASDAQ:NEXT)
Historical Stock Chart
From Sep 2023 to Sep 2024