NextDecade Corp. (NEXT) Announces Positive Final Investment Decision (FID) on Train 5 at Rio Grande LNG

NextDecade Corp. (NASDAQ:NEXT) is one of the best small cap stocks with the highest upside. On October 16, NextDecade Corp. (NASDAQ:NEXT) announced a positive final investment decision (FID) on Train 5 at Rio Grande LNG, stating that it closed financial transactions to fully fund Train 5 and related infrastructure. The company also issued “full notice to proceed to Bechtel under the Company’s lump-sum, turnkey engineering, procurement, and construction (EPC) contract for Train 5 and related infrastructure”.

NextDecade Corp. (NASDAQ:NEXT) reported that Train 5 has expected LNG production capacity of around 6 million tonnes per annum (MTPA), which brings the total anticipated LNG production capacity under construction at Rio Grande LNG to around 30 MTPA.

It added that Train 5 is “commercially supported by 4.5 MTPA of 20-year LNG Sale and Purchase Agreements (SPAs) with JERA, EQT Corporation, and ConocoPhillips”. NextDecade Corp. (NASDAQ:NEXT) expects the guaranteed substantial completion date for Train 5, along with the “date of first commercial delivery (DFCD) under the Train 5 LNG SPAs”, in the first half of 2031.

Management further reported that the expected project costs for Train 5 and related infrastructure are around $6.7 billion, including EPC costs, owner’s costs, financing fees and interest during construction, contingencies, and other costs.

NextDecade Corp. (NASDAQ:NEXT) is a development company with a focus on liquefied natural gas (LNG) export projects and associated pipelines. The company manages and develops floating and land-based liquefied natural gas projects in the Gulf Coast, with a focus on the Rio Grande LNG.

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Disclosure: None. This article is originally published at Insider Monkey.