The company is also in the process of responding to an Aug. 6 ruling by the U.S. Court of Appeals for the D.C. Circuit, in which the court vacated permits for parts of the Rio Grande LNG project. (Source: Shutterstock)
NextDecade subsidiary Rio Grande LNG has withdrawn a proposed carbon capture and storage (CCS) project and requested that the Federal Energy Regulatory Commission (FERC) terminate the proceeding.
“We appreciate the FERC’s diligence during the review process,” said Chairman and CEO Matt Schatzman said in a press release. “The CCS project at RGLNG is not sufficiently developed to allow FERC review to continue at this time. We remain committed to advancing and lowering the cost of utilizing carbon capture and storage and helping companies reduce their facility emissions and achieving their clean energy goals.”
Related: NextDecade Raises ‘Going Concern’ Doubts Amid Rio Grande LNG FID
Rio Grande is in Phase 1 of its $18.4 billion Rio Grande LNG project, although the company has signaled financial problems in May, citing it its ability to continue as a “going concern.” Phase 1 is fully financed.
The company is also in the process of responding to an Aug. 6 ruling by the U.S. Court of Appeals for the D.C. Circuit, in which the court vacated permits for parts of the Rio Grande LNG project.
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