Aug 1 (Reuters) - U.S. liquefied natural gas developer

NextDecade Corp ( NEXT ) said on Friday it was targeting

mid-September for a final investment decision on Train 5 of its

Rio Grande LNG project in Texas.

The move follows its first long-term offtake deal for the

fifth train and the execution of an engineering, procurement and

construction contract.

NextDecade ( NEXT ) said it was working to contract an additional 2.5

million tonnes per annum under LNG supply deals to support Train

5.

LNG developers typically reach a final investment decision

on projects once they have secured enough supply deals to obtain

the necessary financing for construction.

NextDecade ( NEXT ) is also aiming final investment decision for

Train 4 in the same timeframe, having secured 20-year LNG supply

deals with Aramco, TotalEnergies and ADNOC.

"Phase 1 remains on schedule and on budget, and we are

progressing Trains 4 and 5 quickly toward final investment

decisions," NextDecade ( NEXT ) CEO Matt Schatzman said in a statement.

As of June, Trains 1 and 2 and common facilities of the Rio

Grande LNG facility were 48.3% complete, while Train 3 stood at

22.7%, the company said.

(Reporting by Arunima Kumar in Bengaluru; Editing by Sriraj

Kalluvila)