pipeline-2019a.svg

Search

Categories

Rio Grande LNG- web.jpg

NextDecade gets investment in its Rio Grande LNG project

Aug 08, 2018
1 min read
Print this page

NextDecade has agreed to sell US$50 million worth of stock to Korean petrochemical company Hanwha General Chemical (HGC) for investment in its Rio Grande LNG project in Texas.

HGC, a wholly owned subsidiary of a leading Korean petrochemical company, will invest $35 million, and the Company’s three largest stockholders, York, Valinor, and Halcyon, will invest $15 million.

As part of its investment in NextDecade, HGC will receive one seat on the Company’s board of directors, and will also have the right to contribute up to $350 million of project-level equity upon the final investment decision (FID) of NextDecade’s Rio Grande LNG project.

NextDecade said that it intends to use the proceeds of the Series A private offering to continue developing its Rio Grande LNG terminal facility and associated pipelines in South Texas and for general corporate purposes and working capital.

RELATED POSTS

dmg events Global Energy Exhibitions & Conferences