4th July 2024
EP
Aramco and NextDecade Corp. are negotiating a binding agreement for LNG offtake from the Rio Grande LNG plant under development at the Port of Brownsville, Tex.
The negotiations come following the signing of a non-binding heads of agreement (HoA).
Under the HoA, Aramco expects to purchase 1.2 million tonnes/year (tpy) of LNG from Train 4 for 20 years on a free-on-board basis, at a price indexed to Henry Hub.
Once executed, the effectiveness of a binding agreement will be subject to a positive final investment decision on Train 4, which NextDecade expects to reach in this year’s second half (OGJ Online, June 4, 2024).
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