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
![](/media/2035/pgj-enews-graphic-300x1404.jpg)
- Mexican President: Billionaire Slim Interested in Pemex Natural Gas Project
- Freeport LNG Sues Three Contractors Over Defects at Texas Plant
- Energy Transfer Adds 6,000 Miles of Pipeline with $3.25 Billion WTG Midstream Acquisition
- FERC Approves Transco's Texas to Louisiana Gas Pipeline Project
- Williams Says Court Rules in Its Favor in Pipeline Dispute with Energy Transfer
- U.S. to Buy 4.5 Million Barrels of Oil to Replenish Strategic Petroleum Reserve
- Kurdish Oil Smuggling to Iran Flourishes
- U.S. Court Overturns Alaska Oil Lease Sale, Halting Energy Development
- Second Gas Pipeline Rupture in Texas’ Reeves County Raises Environmental Concerns
- Williams Begins Louisiana Pipeline Construction Despite Ongoing Legal Dispute with Energy Transfer
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