NextDecade said TotalEnergies has offered to sell a 17.5% stake in the U.S. liquified natural gas company.
The offering by a unit of French oil major TotalEnergies includes 44.9 million shares of NextDecade, the company said in a filing dated Dec. 22.
The shares were bought for $219 million in June as part of a broader deal for the development of NextDecade’s Rio Grande LNG export project in south Texas that has faced repeated delays.
NextDecade, which signed a contract to supply 5.4 million tons of LNG per year to TotalEnergies, said it would not receive any proceeds from the sale.
(Reporting by Sourasis Bose in Bengaluru; Editing by Shweta Agarwal)