NextDecade Corp. and Bechtel Oil, Gas, and Chemicals, Inc. (Bechtel) have completed a pricing refresh on the fully wrapped lump-sum turnkey engineering, procurement, and construction (EPC) agreements on March 8 for the first three trains at NextDecade’s Rio Grande LNG project resulting in no impact to the overall cost of the project.
The pricing in the EPC agreements is now valid until December 31, 2021. Additionally, NextDecade and Bechtel agreed to extend the validity of the EPC agreements until July 31, 2022.
“We value our strong partnership with Bechtel, the world’s leading LNG EPC contractor,” Matt Schatzman, NextDecade’s chairman and CEO, said. “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.”
NextDecade anticipates achieving a final investment decision on a minimum of two trains at Rio Grande LNG in 2021.
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