Construction of Phase 1 of Rio Grande LNG as of April 2024. (Source: Shutterstock)
NextDecade has appointed Tarik Skeik as the company’s COO about two months after the company raised concerns about its finances in a filing with the Securities and Exchange Commission.
Skeik will report to Chairman and CEO Matt Schatzman as the company works to deliver Phase 1 of Rio Grande LNG (RGLNG) on schedule and within budget to reach positive final investment decisions (FID) on RGLNG Trains 4 and 5. Skeik will also work to advance the company’s Next Carbon Solutions business.
The appointment comes after NextDecade reported in May that the company had doubts ability its ability to remain a “going concern.” While Phase 1 of the $18.4 billion Rio Grande LNG facility is fully financed, Phase 2, which includes Trains 4 and 5, is not.
NextDecade has continued to attract customers for Phase 2, including an offtake agreement with ADNOC for 1.9 million tonnes per annum announced (mtpa) in May. In June, the company entered a non-binding heads of agreement (HOA) for 1.2 mtpa of LNG from the facility. The Aramco agreement is subject to a positive FID on Phase 2’s Train 4.
Before his appointment as COO, Skeik was a global project executive at Exxon Mobil where he worked since 2011. Skeik has more than 20 years of experience delivering global complex megaprojects in LNG, oil and petrochemicals across North America, the Middle East and Asia. He led the completion and start-up of six greenfield assets exceeding $50 billion in investments.
“With over 20 years of experience delivering mega energy projects around the globe, I’m excited to have Tarik join our team,” Schatzman said in a press release. “Tarik brings a diverse set of skills that will help NextDecade transition from a successful development company into a world-class operating company.”
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