U.S. liquefied natural gas producer NextDecade said on Thursday it had reached a positive final investment decision (FID) on the fifth liquefaction plant, known as a train, of its Rio Grande export project in Texas.
Train 5 has the expected LNG production capacity of about 6 million tonnes per annum (MTPA), bringing the total expected LNG production capacity under construction to about 30 MTPA at Rio Grande LNG, the company said.
The announcement marks the fifth positive FID for an LNG development project in the U.S. — the world’s largest exporter of the superchilled fuel.
LNG developers typically reach an FID on projects once they have secured enough supply deals to obtain the necessary financing for construction.
(Reporting by Sumit Saha in Bengaluru; Editing by Shreya Biswas)