NextDecade LLC has entered into an agreement with GE Oil & Gas to advance its LNG export projects and associated pipelines in Texas, US.
GE Oil & Gas has been selected as the exclusive supplier of gas turbine and compressor equipment for the liquefaction trains of the Rio Grande LNG project and the associated Rio Bravo Pipeline.
In addition to technology and services, GE Oil & Gas is providing NextDecade with a common equity investment, and is granted the right to invest up to a specified amount in project-level equity and debt financing for Rio Grande LNG at the time of final investment decision (FID).
Kathleen Eisbrenner, NextDecade Chief Executive Officer, said: “NextDecade is delighted to welcome GE Oil & Gas as both a shareholder and exclusive supplier to its Rio Grande LNG and Rio Bravo Pipeline projects […] We believe GE will add significant value as we work to make Rio Grande LNG one of the most competitive liquefaction projects in the world. The addition of GE Oil & Gas reaffirms our commitment to use proven technology to provide our customers with low-cost, reliable LNG.”
NextDecade recently announced that it had entered into a definitive merger agreement with Harmony Merger Corp. The proposed merger is expected to close late in 2Q17. Consummation of the proposed merger will result in NextDecade becoming a publicly listed company.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/26042017/nextdecade-contracts-ge-oil-gas/