NextDecade on Track for Rio Grande Facility FID in 2021
(P&GJ) — U.S. liquefied natural gas developer NextDecade said in a press release on Thursday that the company still expects to make a final investment decision (FID) on its proposed Rio Grande LNG export facility in 2021.
The company also said it has developed proprietary processes that, combined with existing carbon capture and storage (CCS) technology, will reduce carbon emissions at the facility by about 90%.
NextDecade said it is also exploring options to address the remaining emissions with a goal of making the facility carbon neutral.
“Our work to date confirms that reliable, competitively priced LNG and responsible environmental stewardship are not mutually exclusive,” said Matt Schatzman, NextDecade’s Chairman and Chief Executive Officer.
NextDecade continues to work on remaining commercial agreements needed to achieve an FID in 2021
The company has already signed a 20-year agreement with a unit of Royal Dutch Shell to sell 2 million tonnes per annum of LNG from Rio Grande.
In an earnings report earlier this year the company said it can achieve an FID with an additional 9 million tonnes per annum of capacity sold under long-term contracts.
The company currently has a contract with engineering firm Bechtel to build two liquefaction trains for $7.042 billion or three trains for $9.565 billion. Each train can produce about 5.87 million tonnes per annum of LNG, or about 0.77 billion cubic feet per day of natural gas.
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