TotalEnergies to Sell 17.5% Stake in LNG Developer NextDecade

(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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