THE WOODLANDS, Texas, March 5, 2015 /PRNewswire/ -- NextDecade, LLC today announced it has signed an option-to-lease agreement with the Port of Brownsville that will expand the company's site to 1,000 acres for its proposed Rio Grande Liquefied Natural Gas ("RGLNG") export terminal, doubling its initial agreement. This decision follows NextDecade's recently completed Basis of Design ("BOD") – also known as PreFEED – for the LNG terminal facility and its accompanying 130-mile Rio Bravo Pipeline linking the terminal with the Agua Dulce market hub. NextDecade is currently preparing to kick off FEED.
"NextDecade has taken a major step forward by securing such a prime site for our Rio Grande LNG project," said Kathleen Eisbrenner, founder and CEO of NextDecade. "We have worked diligently to complete our Basis of Design to ensure a competitive, well thought out and executable project and are committed to working with the Federal Energy Regulatory Commission (FERC), our industry-leading partners and the local community to bring this project to fruition."
The Rio Grande LNG site, located on the northern shore of the Brownsville Ship Channel, provides an optimal location for an LNG export terminal with substantial expansion opportunities. Securing a sizable site with deep-water access represents one of the more significant milestones for LNG projects. In addition, the RGLNG site is close to the Gulf, providing access to major global LNG markets, while the additional acreage will provide increased design flexibility and expansion capability, greatly increasing the attractiveness of the project both to potential off-takers and investors.
NextDecade is currently engaged in a detailed assessment of every aspect of the site to ensure that all safety and environmental requirements are met as it prepares for initial FERC pre-filing process submissions later this month, and is actively conducting community consultations.
Port of Brownsville Director and CEO Eduardo A. Campirano said, "The Port of Brownsville welcomes NextDecade's interest in the Port. The development of a project such as this will bring jobs and additional economic development to the entire Rio Grande Valley."
About NextDecade LLC
NextDecade, based in The Woodlands, Texas, is a development and management company of land-based and floating LNG projects creating innovative opportunities globally in the integrated natural gas industry around the world. By bringing together people, companies and opportunities, NextDecade assembles the best mix of assets to deliver successful projects. NextDecade's current focus includes its Pelican Island LNG project in Galveston, Texas, in addition to the Rio Grande LNG project in Brownsville, Texas. Founded in 2010, NextDecade represents a team of industry leaders with vast experience in the full LNG value chain, including successfully closing major LNG take-off deals, LNG/FLNG technology, and project management. The experienced team has developed, led, closed and operated industry-leading LNG and Gas projects globally. For more information, please visit www.next-decade.com.
SOURCE NextDecade, LLC