Aramco Seals 20-Year Deal for Texas LNG, Bolstering Energy Ties with NextDecade

Aramco, one of the world's leading integrated energy and chemicals companies, and NextDecade Corporation (NextDecade) (NASDAQ:NEXT) announced today that their respective subsidiaries have executed a non-binding Heads of Agreement (HoA) for a 20-year liquefied natural gas sale and purchase agreement (LNG SPA) for offtake from Train 4 at the Rio Grande LNG Facility at the Port of Brownsville, Texas, USA.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240611802841/en/

Under the terms of the HoA, Aramco expects to purchase 1.2 million tonnes per annum (MTPA) of LNG for 20 years on a free on board basis, at a price indexed to Henry Hub. Aramco and NextDecade are currently in the process of negotiating a binding agreement, and once executed, the effectiveness of which will be subject to a positive Final Investment Decision on Train 4.