Mubadala Makes $50 Million Investment In NextDecade 

NextDecade and Mubadala Investment Company (Mubadala), an Abu Dhabi-based sovereign investor, announced today that they have reached agreement for Mubadala to purchase US$50 million of NextDecade’s common stock in a private placement. NextDecade will issue the common stock to Mubadala at a price of US$6.27 per share.

“We are honored to welcome Mubadala, a leading global investor, as a shareholder in our company,” said Matt Schatzman, Chairman and Chief Executive Officer of NextDecade. “Mubadala brings a valuable perspective on large-scale infrastructure investment and the growing role of LNG in the Middle East and other markets around the world. We look forward to a strong and lasting partnership.”

As part of its investment in NextDecade, Mubadala will receive one seat on NextDecade’s board of directors. Mubadala will also have the right to contribute a certain amount of project-level capital upon the final investment decision of NextDecade’s Rio Grande LNG project.

Rio Grande LNG is a planned U.S. LNG export project at the Port of Brownsville, Texas with an expected total capacity of 27 million tons per annum. NextDecade plans to make a final investment decision on Rio Grande LNG project in 2020.