NextDecade Signs LNG Contract Indexed to Brent Oil Prices

NextDecade Corp., developer of the Rio Grande LNG export project in Brownsville, Texas, announced that it has signed the first long-term contract for LNG to be exported from the United States to be indexed to Brent oil prices. According to the press release, NextDecade signed a 20-year binding sales and purchase agreement (SPA) with Shell NA LNG, LLC for the supply of two million tonnes per annum of LNG from the Rio Grande LNG project with full destination flexibility. Shell will buy LNG on a free-on-board (FOB) basis starting from commercial operation of the project, which is expected in 2023.

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