King & Spalding advises NextDecade on $11.7B EPC Agreement for $18B Rio Grande LNG Facility

Talk of the Town Announcement

HOUSTON, TX- King & Spalding advised Rio Grande LNG, LLC, a subsidiary of NextDecade Corporation (“NextDecade”) (NASDAQ: NEXT), for the first phase of NextDecade’s Rio Grande LNG project, located in Brownsville, Texas (“Rio Grande Project”).

The Rio Grande Project is the largest privately funded infrastructure project in the State of Texas. On July 12, 2023, NextDecade achieved financial close of approximately $18.4 billion in project financing for the Rio Grande Project. Contemporaneously, NextDecade issued a Final Investment Decision and full notice to proceed. King & Spalding advised NextDecade on the EPC agreement, natural gas transportation arrangements, LNG marketing, all real estate matters, and as opinion counsel.

First, K&S advised NextDecade on an approximately $12 billion contract with Bechtel Energy Inc. for the engineering, procurement, and construction (EPC) of the project, including the construction of three liquefaction units, for an aggregate nominal LNG production capacity of approximately 17.6 million metric tonnes per annum.

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