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