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.
Related News
Related News
Sign up to Receive Our Newsletter
- Trump Aims to Revive 1,200-Mile Keystone XL Pipeline Despite Major Challenges
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- ONEOK Agrees to Sell Interstate Gas Pipelines to DT Midstream for $1.2 Billion
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Tullow Oil on Track to Deliver $600 Million Free Cash Flow Over Next 2 Years
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- GOP Lawmakers Slam New York for Blocking $500 Million Pipeline Project
- Texas Oil Company Challenges $250 Million Insurance Collateral Demand for Pipeline, Offshore Operations
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
Comments