NextDecade (NEXT) Soars 27% on LNG Crisis

NextDecade Corp. (NASDAQ:NEXT) is one of the 10 Stocks Gaining Momentum Fast.

NextDecade saw its share prices jump by 27 percent week-on-week, on strong investor appetite for energy companies that are expected to largely benefit from the ongoing tensions in the Middle East.

The stock rallied alongside its counterparts in the liquefied natural gas (LNG) industry amid ongoing supply disruptions and higher natural gas prices, triggered by the US and Israel’s ongoing war on Iran.

Photo from NextDecade Corp.’s website

In the past trading week, a missile struck a major gas hub facility in Qatar, which accounts for a fifth of the world’s LNG supply. Economists estimate the attack to result in $20 billion in lost revenues annually, and that even if tensions ease, it would take at least five years to fully repair the damaged facility.

Sentiment for NextDecade Corp. (NASDAQ:NEXT), however, turned more optimistic on expectations of higher profit margins, with industries projected to look elsewhere for their LNG supplies.

NextDecade Corp. (NASDAQ:NEXT) is a US-based producer of LNG and owner of the Rio Grande project, which is currently under development in Texas. The facility is targeted to produce 30 million tons per annum of LNG for supply to its global customers.

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