08:29 AM EDT, 06/13/2024 (MT Newswires) -- NextDecade ( NEXT ) and Aramco said Thursday that their subsidiaries have agreed to a non-binding 20-year liquefied natural gas sale and purchase agreement.

Under the terms of the preliminary agreement, Aramco expects to purchase 1.2 million metric tons of LNG per year for 20 years on a free-on-board basis, at a price indexed to Henry Hub, for offtake from Train 4 at the Rio Grande LNG Facility at Brownsville, Texas,

The companies are currently negotiating a binding agreement, pending the finalization of infrastructure at Train 4, which NextDecade ( NEXT ) expects in the H2.

NextDecade ( NEXT ) shares were up more than 7% in recent Thursday premarket activity.

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