(News Bulletin 247) – TotalEnergies, Global Infrastructure Partners (GIP), NextDecade Corporation and their partners, GIC and Mubadala, have made the final investment decision for the development of the 1st phase of Rio Grande LNG (RGLNG). This is a proposed natural gas (LNG) liquefaction plant in southern Texas.
This first phase is made up of 3 liquefaction trains for a total capacity of 17.5 million tonnes per year (Mtpy) and CAPEX of $14.8 billion.
As part of this agreement, TotalEnergies is acquiring a 16.67% stake in the joint venture in charge of this first phase, and will participate in equity contributions for a total amount of $1.1 billion.
The group will hold a total stake of 17.5% in NextDecade for a total amount of $219 million.
TotalEnergies will finally remove 5.4 Mtpy of LNG from the production of this phase for 20 years.
‘This project allows TotalEnergies to access competitive LNG thanks to its low production costs. The liquefied natural gas from this first phase will bring TotalEnergies’ US LNG export capacity to more than 15 Mtpa by 2030,” said Patrick Pouyanné, Chairman and CEO of TotalEnergies.
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