US LNG export project developer NextDecade said it has agreed to sell stock to funds managed by BlackRock. 

The investment by funds managed by BlackRock further strengthens NextDecade’s capital position as it continues development of its Rio Grande LNG terminal facility and associated pipelines in South Texas.

The stock deal has already been approved by NextDecade’s board of directors.

Pat Eilers, a managing director with BlackRock’s Infrastructure team, said, “Our clients are increasingly interested in the investment opportunities resulting from the ongoing global energy transition, and we are excited to invest in one of the leading companies in the second wave of U.S. LNG development on their behalf.”

Rio Grande LNG is a proposed 27 mtpa LNG export facility to be located on a 984-acre site on the Brownsville Ship Channel in South Texas and will be constructed in phases.

The approximately 137-mile proposed Rio Bravo Pipeline will supply the facility with its feedgas, connecting it to the Agua Dulce natural gas supply area.

LNG World News Staff