NextDecade Secures $356 Million Loan for Rio Grande LNG Phase 1
(Reuters) — NextDecade said on Wednesday it has received a loan worth $356 million from a group of lenders to finance a portion of the Phase 1 of its Rio Grande LNG export facility in Texas.
The LNG firm said the full amount was disbursed on Sept. 15, leading to lowering of its existing loan commitments for Phase 1 to under $10.8 billion from $11.1 billion.
Located in Brownsville, Texas, the Rio Grande LNG export facility has been in development for several years, suffering repeated delays.
The facility, with a capacity to produce 27 million tonnes per annum of LNG, received a positive final investment decision to construct the first three liquefaction trains (Phase 1) in July.
The $18.4 billion committed for Phase 1 is the largest greenfield energy project financing in U.S. history.
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