The port of Brownsville
ExxonMobil signs up for LNG from Next Decade
The deal continues the trend of developers making long-term agreements to start in the second half of this decade and is another milestone for the Rio Grande project
ExxonMobil has signed a 20-year SPA with Nasdaq-listed producer Next Decade to buy 1mn t/yr of LNG, with the gas to be supplied from the first two trains of the Rio Grande liquefaction project in Brownsville, Texas. Next Decade expects the first train of Rio Grande to begin commercial operations “as early as 2026”. The company anticipates making “a positive FID on up to three trains” at the project in the second half of this year, “assuming the achievement of further LNG contracting and financing”, the company says. FIDs on the development’s two other trains will “follow thereafter”, the company adds. Rio Grande is planned as a 27mn t/yr facility, and Next Decade has already secured SPAs wor
Also in this section
21 February 2025
While large-scale planned LNG schemes in sub-Saharan Africa have faced fresh problems, FLNG projects are stepping into that space
20 February 2025
Greater social mobility means increased global demand for refined fuels and petrochemical products, with Asia leading the way in the expansion of refining capacity
19 February 2025
The EU would do well to ease its gas storage requirements to avoid heavy purchase costs this summer, with the targets having created market distortion while giving sellers a significant advantage over buyers
18 February 2025
Deliveries to China decline by around 1m b/d from move to curb crude exports to Shandong port, putting Iran under further economic pressure
