05:12 PM EDT, 09/08/2025 (MT Newswires) -- NextDecade ( NEXT ) said late Monday it entered a 20-year agreement with ConocoPhillips ( COP ) to supply 1 million tons per annum of liquefied natural gas from its Rio Grande LNG Train 5 project in Texas, which is under development.

ConocoPhillips ( COP ) will offtake LNG on a free-on-board basis at a price indexed to Henry Hub, given that NextDecade ( NEXT ) makes a positive final investment decision on Train 5, according to the company.

Subject to securing financing, NextDecade ( NEXT ) expects to achieve a positive FID on Train 5 in Q4. The company also expects to achieve a positive FID on Rio Grande LNG Train 4 by Sept. 15, according to a statement.