NextDecade Corp. has pushed back the deadline for making a final investment decision (FID) on the Rio Grande LNG project. In a new investor presentation, it said it would reach this milestone by the end of the fourth quarter, and not by the end of the third quarter as previously anticipated.
The Houston-based company did not divulge the reason for the delay. But it did indicate in the presentation that it still expected the Rio Grande gas liquefaction plant to begin operating on schedule in 2023.
Rio Grande LNG will process gas from fields in the Permian and Eagle Ford shale basins. Its three production trains will eventually be able to turn out more than 17.5 million tons per year of LNG.
NextDecade has already arranged to deliver 2 million tons per year of LNG to Shell. In April of this year, it signed a 20-year supply contract with the Anglo-Dutch giant.