NextDecade Corporation signs 15-year LNG supply agreement with Itochu Corporation

NextDecade has signed a 15-year agreement with Itochu Corporation to supply LNG from the Rio Grande LNG (RGLNG) export project in Brownsville, Texas. Under the agreement, Itochu will purchase 1.0 million tonnes per annum of LNG indexed to Henry Hub on a free-on-board basis.

"We are thrilled to have Itochu Corporation as our first Japanese customer," said Matt Schatzman, NextDecade's Chairman and CEO. "We are committed to providing Itochu and their customers with clean energy and reducing the carbon footprint of the Rio Grande LNG facility through our proposed carbon capture and storage project."

NextDecade is currently working towards a positive Final Investment Decision on the first three trains of the RGLNG export project in the first quarter of 2023, with FIDs for the remaining trains to follow. At full scale, Rio Grande LNG will be capable of producing 27 million metric tonnes per annum of LNG.