TotalEnergies (TTE) has signed a sales and purchase agreement with NextDecade (NEXT) to buy 1.5M tons per annum of liquefied natural gas from the future Train 4 liquefaction unit at the Rio Grande LNG facility. The SPA, of a duration of twenty years, is subject to NextDecade taking a positive Final Investment Decision (FID) on Train 4. TotalEnergies holds a 16.7% stake in the first phase of the Rio Grande LNG facility, which consists in 3 LNG trains currently under construction in southern Texas. TotalEnergies previously agreed to purchase 5.4 Mtpa of the approximately 17.5 Mtpa produced by the first phase, which is expected to start up in 2027. TotalEnergies also holds a 17.5% stake in NextDecade, Rio Grande’s shareholder and operator.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TTE:
- TotalEnergies upgraded to Outperform from Neutral at BNP Paribas Exane
- NextDecade announces 1.5 MTPA LNG sale, purchase pact with TotalEnergies
- TotalEnergies price target lowered to $60 from $65 at Scotiabank
- Oil prices fall, putting U.S. shale production in peril, FT reports
- Phillips 66 Director Blasts “Distracted” Investor Elliott Management
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue