NextDecade to supply LNG to China Gas

China Gas Holdings

05/07/2022 13:58

July 5 (Reuters) - U.S. liquefied natural gas (LNG)
developer NextDecade Corp  NEXT.O  said on Tuesday it will
supply 1 million metric tonnes of gas per annum to China Gas
Holdings' unit  0384.HK  from its Rio Grande LNG export project
in Brownsville, Texas.
    It is the latest agreement in a string of new long-term LNG
contracts in the sector that picked up pace this year as
sanctions on Russian fuel choked an already undersupplied
market, raising energy security concerns amid soaring global
demand for the gas.  urn:newsml:reuters.com:*:nL2N2WU14A
    In May, NextDecade signed a 15-year supply agreement with
French energy group Engie SA  ENGIE.PA  for 1.75 mtpa of LNG.
 urn:newsml:reuters.com:*:nL3N2WU0Y5
    The new supply deal with China Gas, the financial terms of
which have not been disclosed yet, is for 20 years and LNG will
be delivered from the second train at Rio Grande LNG that is
expected to start commercial operations as early as 2027,
NextDecade said in a statement. 
    The company said it expects to make final investment
decisions (FID) on up to three trains of the Rio Grande LNG
export project in the second half of 2022, with FIDs of its
remaining trains to follow thereafter.
    
    

 (Reporting by Rithika Krishna in Bengaluru; Editing by Shinjini
Ganguli)
 ((Rithika.Krishna@thomsonreuters.com; Twitter: https://twitter.com/rithika_krishna;))