(Correction of title and first paragraph to indicate that NextDecade has requested registration of shares held by TotalEnergies)
NextDecade NEXT.O has filed a preregistration application that would allow TotalEnergies TTEF.PA to sell its 17.5% stake in the U.S. liquefied natural gas company over time.
A unit of French oil major TotalEnergies currently owns 44.9 million shares of NextDecade, purchased for $219 million in June as part of a broader deal to develop the Rio Grande LNG export project of NextDecade in South Texas, which has experienced repeated delays.
NextDecade, which signed a contract to supply 5.4 million tonnes of LNG per year to TotalEnergies, said in a document dated December 22 that it would not receive any proceeds from these future deals.