NextDecade Corp’s subsidiary, Rio Grande LNG Train 4, has signed a lump sum turnkey EPC contract with Bechtel Energy for the construction of Train 4 and related infrastructure at Rio Grande LNG.
Rio Grande LNG Train 4 has agreed to pay Bechtel about $4.3 bill for the work under the EPC contract.
Price validity under the contract extends through 31st December, 2024.
NextDecade said that it currently forecasts that owner’s costs, contingencies, financing fees and interest during construction will total around $1.7-1.9 bill, based on current estimates and expected interest rates.
Total estimated project costs are expected to be $6.0-$6.2 bill for Train 4 and related infrastructure, in line with the per train cost of the three-train Phase 1 at the Rio Grande LNG facility, which is currently under construction.
NextDecade also said that it continued to target a positive final investment decision (FID) on Train 4 in the second half of 2024, subject to gaining appropriate commercial support and obtaining adequate financing for its construction.
