(CercleFinance.com) – TotalEnergies announces that it has signed a framework agreement with the American company NextDecade to participate in the development of the Rio Grande LNG (RGLNG) project, a natural gas (LNG) liquefaction plant located in southern Texas.
According to the agreement, and subject to the final investment decision, the Frenchman will hold a 16.7% stake in the first phase of RGLNG, consisting of three liquefaction trains for a total capacity of 17.5 million tonnes. per year.
TotalEnergies will also acquire a 17.5% stake in NextDecade in three tranches for a total amount of 219 million dollars, a first tranche of 5.06% having already been acquired on June 13 for 40 million.
It will finally have the right to participate in later phases of the project as well as a carbon capture and storage (CCS) project planned by NextDecade to reduce emissions generated by RGLNG, whose production is expected to start in 2027.
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