NextDecade Secures LNG Transport for Rio Grande Project

TL;DR

NextDecade locks in LNG transport for Rio Grande project, FID imminent.

AI Summary

NextDecade Corporation announced on March 20, 2024, that it has entered into a binding Gas Transportation Agreement (GTA) with Global Infrastructure Partners (GIP) for its Rio Grande LNG project. This agreement secures transportation capacity for approximately 1.5 million tonnes per annum (MTPA) of liquefied natural gas (LNG) from the project's Train 1. The GTA is a crucial step towards the final investment decision (FID) for Train 1, which is expected in the first half of 2024.

Why It Matters

This agreement is a significant milestone for NextDecade's Rio Grande LNG project, moving it closer to a final investment decision and potentially unlocking substantial future revenue streams from LNG exports.

Risk Assessment

Risk Level: medium — While the GTA is a positive step, the project still requires a final investment decision and faces execution risks inherent in large-scale energy infrastructure development.

Key Numbers

• 1.5 MTPA — LNG Transportation Capacity (Secured via GTA for Train 1 of Rio Grande LNG)

Key Players & Entities

• NextDecade Corporation (company) — Registrant
• Global Infrastructure Partners (GIP) (company) — Counterparty to Gas Transportation Agreement
• Rio Grande LNG project (company) — Project subject of the agreement
• March 20, 2024 (date) — Date of announcement
• 1.5 million tonnes per annum (MTPA) (dollar_amount) — Secured transportation capacity
• Train 1 (company) — Specific phase of the LNG project
• first half of 2024 (date) — Expected timeframe for Final Investment Decision

FAQ

From the Filing

0001628280-24-012921.txt : 20240325 0001628280-24-012921.hdr.sgml : 20240325 20240325163545 ACCESSION NUMBER: 0001628280-24-012921 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20240320 ITEM INFORMATION: Changes in Registrant's Certifying Accountant ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240325 DATE AS OF CHANGE: 20240325 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NextDecade Corp. CENTRAL INDEX KEY: 0001612720 STANDARD INDUSTRIAL CLASSIFICATION: NATURAL GAS TRANSMISSION & DISTRIBUTION [4923] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 465723951 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-36842 FILM NUMBER: 24779706 BUSINESS ADDRESS: STREET 1: 1000 LOUISIANA STREET STREET 2: SUITE 3900 CITY: HOUSTON STATE: TX ZIP: 77002 BUSINESS PHONE: 7135741880 MAIL ADDRESS: STREET 1: 1000 LOUISIANA STREET STREET 2: SUITE 3900 CITY: HOUSTON STATE: TX ZIP: 77002 FORMER COMPANY: FORMER CONFORMED NAME: Harmony Merger Corp. DATE OF NAME CHANGE: 20140703 8-K 1 next-20240320.htm 8-K next-20240320 FALSE 0001612720 0001612720 2024-03-20 2024-03-20 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): March 20, 2024 NEXTDECADE CORPORATION (Exact Name of Registrant as Specified in Charter) Delaware 001-36842 46-5723951 (State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification No.) 1000 Louisiana Street , Suite 3900 Houston , Texas 77002 (Address of principal executive offices) (Zip code) Registrant’s telephone number, including area code: ( 713 ) 574-1880 (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e 4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class: Trading Symbol Name of each exchange on which registered: Common Stock, $0.0001 par value NEXT The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company o If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o Item 4.01. Changes in Registrant’s Certifying Accountant. (a) Dismissal of Previous Independent Registered Public Accounting Firm; (b) Appointment of New Independent Registered Public Accounting Firm. On March 20, 2024, the Audit Committee (the “Audit Committee”) of the Board of Directors of NextDecade Corporation (the “Company”) appointed KPMG LLP (“KPMG”) as the Company’s independent registered public accounting firm for the Company’s fiscal year ending December 31, 2024, and on the same day voted to approve the dismissal of Grant Thornton LLP (“Grant Thornton”) as its independent registered public accounting firm. Grant Thornton served as the Company’s independent registered