NextDecade and SMBC join forces on Rio Grande LNG project

Next Decade LLC has engaged Sumitomo Mitsui Banking Corp. (SMBC) as financial advisor and mandated lead arranger for its Rio Grande liquefied natural gas (LNG) export project. Under the agreement, SMBC will be responsible for securing debt financing for the project.

SMBC will advise Rio Grande LNG on, and ultimately lead the international banking syndicate in, securing long-term capital for the project's construction.

Rio Grande LNG is a multibillion-dollar land-based LNG export project proposed for the Brownsville Ship Channel, located on the Texas Gulf Coast near Brownsville, Texas. NextDecade's project includes plans for up to six liquefaction trains with a nominal output capacity of 4.5 million tons of LNG per train per year.

Rio Bravo Pipeline is a 140-mile proposed pipeline project that would supply Rio Grande LNG with its feed gas. The first phase of the Rio Grande LNG/Rio Bravo Pipeline project represents a direct investment in excess of $8 billion. The final investment decision, expected in mid-2017, will come only after the US Federal Energy Regulatory Commission and related permitting agencies have given full authorization to proceed and upon successful closing of project financing.

NextDecade, based in The Woodlands, Texas, is a development and management company of land-based and floating LNG projects creating innovative opportunities in the integrated natural gas industry around the world. NextDecade's current focus includes its Pelican Island LNG project in Galveston, Texas, in addition to the Rio Grande LNG project in Brownsville.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...