NextDecade’s Rio Grande LNG Receives Final Environmental Impact Statement from FERC
April 26 2019 - 1:51PM
Business Wire
NextDecade Corporation (NextDecade) (NASDAQ: NEXT) announced
today that the Federal Energy Regulatory Commission (FERC) has
issued the Final Environmental Impact Statement (FEIS) for
NextDecade’s Rio Grande liquified natural gas (LNG) project in
Brownsville, Texas, as well as for the associated Rio Bravo
Pipeline to originate in the Agua Dulce area.
The FEIS issued by the FERC was prepared in accordance with
statutory requirements in the National Environmental Policy Act.
The FERC is the primary agency responsible for the review and
permitting of LNG facilities in the United States. The FERC’s
rigorous process includes a detailed review of the environmental,
engineering, social, and other elements of proposed projects.
“We appreciate the FERC staff’s timely and thorough review of
our project,” said Matt Schatzman, NextDecade’s President and Chief
Executive Officer. “The Final Environmental Impact Statement is a
culmination of several years of analysis and cooperation with FERC
staff and multiple federal, state, and local agencies and other
stakeholders.”
With the FEIS issuance, the FERC has established a 90-day
Federal Authorization Decision Deadline of July 25, 2019. Pending
the achievement of further commercial milestones and receipt of a
FERC order, NextDecade anticipates making a positive final
investment decision on up to three trains (Phase I) of the Rio
Grande LNG project by the end of the third quarter of 2019.
Rio Grande LNG and Rio Bravo Pipeline federal regulatory
timeline:
Section 3(a) & 7(c) FERC Application
May 5, 2016
Complete Notice of Schedule for Environmental Review
August 31, 2018
Complete Draft Environmental Impact Statement
October 12, 2018
Complete Final Environmental Impact Statement
April 26, 2019 Complete
Federal Authorization Decision Deadline
July 25, 2019
About NextDecade Corporation
NextDecade is a liquified natural gas (LNG) development company
focused on LNG export projects and associated pipelines in Texas.
NextDecade intends to develop the largest LNG export solution
linking Permian Basin associated gas to the global LNG market,
creating value for producers, customers, and stockholders. Its
portfolio of LNG projects includes 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. For more information, visit
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
“anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,”
“might,” “plan,” “potential,” “project,” “should,” “will” and
similar expressions are intended to identify forward-looking
statements, and these statements may relate to the business of
NextDecade and its subsidiaries. These statements have been based
on NextDecade’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 NextDecade’s
Rio Grande LNG and Rio Bravo Pipeline projects; its ability to
secure additional debt and equity financing in the future to
complete its contemplated projects; the accuracy of the estimated
costs for the projects; governmental approval of construction and
operation of the projects; the successful completion of the
projects by third-party contractors; its ability to generate cash;
the development risks, operational hazards, regulatory approvals
applicable to the projects’ construction and operations activities;
its anticipated competitive advantage; the global demand for and
price of natural gas (versus the price of imported LNG); the
availability of LNG vessels worldwide; legislation and regulations
relating to the LNG industry; negotiations for the project site
lease and right-of-way options for the pipeline route; compliance
with environmental laws and regulations; the result of future
financing efforts and applications for customary tax incentives;
and other matters discussed in the “Risk Factors” section of
NextDecade’s Annual Report on Form 10-K for the year ended December
31, 2018 and other subsequent reports filed with the Securities and
Exchange Commission, all of which are incorporated herein by
reference.
Additionally, any development of the projects remains 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 NextDecade believes that the
expectations reflected in these forward-looking statements are
reasonable, it can give no assurance that the expectations will
prove to be correct. NextDecade 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/20190426005524/en/
Investors: Kevin Smith | + 1 (832) 910 8629 |
ksmith@next-decade.comMedia: Dean Ellis | + 1 (832) 426 1872
| dellis@next-decade.com
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