NextDecade and Bechtel Oil, Gas and Chemicals have completed a pricing review on the lump-sum turnkey engineering, procurement, and construction (EPC) agreements for the first three trains at the Rio Grande LNG project.
This review had no impact to the overall cost of the project. The EPC agreements pricing is now valid until 31st December, 2021. In addition, NextDecade and Bechtel agreed to extend the EPC agreements validity until 31st July, 2022.
“We value our strong partnership with Bechtel, the world’s leading LNG EPC contractor,” said Matt Schatzman, NextDecade’s Chairman and CEO. “Our global LNG customers, feed gas suppliers, and other stakeholders can have the utmost confidence in the on-time and on-budget delivery of our Rio Grande LNG project.
“We are pleased to continue to progress our engineering and procurement activities under limited notices to proceed, and we look forward to providing Bechtel with a full notice to proceed with the development of this world-class project immediately following FID,” he said.
NextDecade anticipated taking a final investment decision (FID) on a minimum of two trains at Rio Grande LNG this year.