US liquefied natural gas business NextDecade Corporation has signed a 20-year LNG sales and purchase deal with a subsidiary of Saudi oil and gas giant Aramco.
Under terms of the deal, the Aramco subsidiary will purchase 1.2 million tonnes per annum of LNG from Train 4 of NextDecade’s Rio Grande facility in Texas on a free on-board basis.
The agreement follows a Heads of Agreement signed between the two firms in June last year. It is also subject to a positive final investment decision (FID) on Train 4.
The total estimated project costs for Train 4 are expected to be between $6bn and $6.2bn, including related infrastructure.
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