Abu Dhabi state investor Mubadala has agreed to buy a $50mn stake in the NextDecade LNG development firm. NextDecade plans to develop the 27mn t/y Rio Grande LNG export facility in Brownsville, Texas, as well as the 4.5bn cfd Rio Bravo Pipeline connecting it to the Agua Dulce area of Texas. NextDecade signed key EPC contracts with Bechtel in May and is targeting 2024 startup for the Rio Grande expert terminal. It also has a 20-year sale and purchase agreement (SPA) for 2mn t/y wrapped up with Shell. However, planned FID was pushed back from Q3 to Q4, and given the congested marketplace – with Qatar planning a 33mn t/y expansion domestically – it is no formality.

NextDecade’s market capitalization is just under $700mn, putting Mubadala’s share of the firm at around 7%. Matt Schatzman, CEO and Chairman of the firm, said “Mubadala brings a valuable perspective on large-scale infrastructure investment and the growing role of LNG in the Middle East and other markets around the world. We look forward to a strong and lasting partnership.” (CONTINUED - 246 WORDS)