TotalEnergies to Sell 17.5% Stake in LNG Developer NextDecade
12/27/2023
(Reuters) — NextDecade said TotalEnergies has offered to sell a 17.5% stake in the U.S. liquified natural gas company.
The offering by a unit of French oil major TotalEnergies includes 44.9 million shares of NextDecade, the company said in a filing dated Dec. 22.
The shares were bought for $219 million in June as part of a broader deal for the development of NextDecade's Rio Grande LNG export project in south Texas that has faced repeated delays.
NextDecade, which signed a contract to supply 5.4 million tons of LNG per year to TotalEnergies, said it would not receive any proceeds from the sale.
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Pipeline Project Spotlight
Owner:
East African Crude Oil Pipeline Company
Project:
East African Crude Oil Pipeline (EACOP)
Type:
TotalEnergies in discussions with a Chinese company after Russian supplier Chelpipe was hit by sanctions.
Length:
902 miles (1,443 km)
Capacity:
200,000 b/d
Start:
2022
Completion:
2025
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