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NextDecade announces positive final investment decision on Rio Grande LNG Phase 1

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The construction of the Rio Grande LNG facility at the Port of Brownsville is a significant development for the region, state, and nation. With the final investment decision made by NextDecade Corporation, the project is set to create numerous economic benefits.

The construction phase alone is expected to generate over 5,000 jobs in the region, providing employment opportunities for the local workforce. Additionally, the project is anticipated to contribute significantly to the gross domestic product (GDP) of various areas. Cameron County is expected to see a GDP increase of $6 billion, while Texas as a whole could experience a boost of $23 billion. The United States could benefit by up to $35 billion, according to the company.

Once fully operational, the Rio Grande LNG terminal will consist of five liquefaction trains with a total export capacity of 27 million tonnes per annum (MTPA). This will allow for the liquefaction of natural gas and its export to foreign markets. The project’s Phase 1, which has secured long-term binding LNG sale and purchase agreements with several major companies, has a liquefaction capacity of 17.6 MTPA.

The financial investment for Phase 1 of the project amounts to $18.4 billion, highlighting the scale and importance of the Rio Grande LNG facility. The facility’s operations are expected to provide substantial economic advantages not only for the region and state but also for the nation as a whole.

The Port of Brownsville is poised to become a key player in the energy sector with the development of the Rio Grande LNG facility. The project’s positive final investment decision sets the stage for significant economic growth, job creation, and enhanced business opportunities in the Rio Grande Valley and Northern Mexico. It represents a major milestone for the region and highlights the commitment of the port to driving economic progress and improving the quality of life for the community.

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