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Stock impact report

XRG to increase stake in NextDecade's Rio Grande LNG project [Yahoo! Finance]

NextDecade Corporation (NEXT) 
US:NASDAQ Investor Relations: next-decade.com/investors
Company Research Source: Yahoo! Finance
The energy investment company, owned by the Abu Dhabi National Oil Company (ADNOC), will acquire an additional 7.6% equity interest in Trains 4 and 5 at the project from Global Infrastructure Partners (GIP), a subsidiary of BlackRock. This move is part of XRG's strategy to bolster its position in the global LNG market. The acquisition follows XRG's earlier investment in phase one of the project, where it purchased an indirect 11.7% stake in Trains 1–3 through the same partner. As part of this previous transaction, ADNOC Trading secured a 20-year LNG offtake agreement for 1.9 million tonnes per annum (mtpa) from Train 4. Trains 4 and 5 are each expected to produce approximately 6mtpa of LNG, with long-term agreements already in place with high-credit-quality offtakers. The Rio Grande LNG facility is expected to play a significant role in the US economy by generating more than 5,000 construction jobs and approximately 700 long-term positions in the Rio Grande Valley. Financial Show less Read more
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