April 8 (Reuters) - U.S. liquefied natural gas producer
NextDecade ( NEXT ) said on Tuesday it had signed an agreement
with a subsidiary of Saudi Aramco to supply the
superchilled gas from its Rio Grande facility for 20 years.
As part of the deal, the Aramco subsidiary will purchase 1.2
million tonnes per annum of LNG from Train 4 at Rio Grande, its
fourth liquefaction facility, subject to a positive final
investment decision (FID) on it.
The United States is already the world's largest exporter of
LNG and President Donald Trump has promised to unleash American
energy by declaring an energy emergency. Growth in LNG exports
is part of that strategy.
The country exported a record more than 9 million metric
tons of LNG in March.
NextDecade's ( NEXT ) Rio Grande LNG export plant has been in
development for several years, suffering repeated delays, and
its phase 1 is now expected to reach completion by early 2029 at
an expected cost of about $18 billion.
The company made an FID to construct the first three
liquefaction trains at the project in 2023.
It said achieving a positive FID on Train 4 would be subject
to "entering into appropriate commercial arrangements and
obtaining adequate financing to construct Train 4 and related
infrastructure".
(Reporting by Tanay Dhumal in Bengaluru; Editing by Anil
D'Silva and Shilpi Majumdar)