Forbes Story: Record-Setting LNG Project FID Heads A Slate Of Key Releases

[Note: This story is also published at Forbes.com]

Announcements over the past week from three big energy players provide more evidence of the rapid growth and diversification that is ongoing in the world of energy. Viewed separately, they all detail significant, even record-setting milestones. Taken together, they illustrate the global interconnectivity and growth not just among energy producers, but also among the companies that offer a vast array of energy services.

A Final Go-Ahead For A Record LNG Project

Phase I of NextDecade’s Rio Grande LNG (RGLNG) project, which I wrote about in April, reached final investment decision (FID) status Wednesday. In a release, NextDecade said it had secured $5.9 billion in investment funding as part of a joint venture deal with Global Infrastructure Partners (GIP), GIC, Mubadala Investment Company (Mubadala), (collectively, the Financial Investors), and TotalEnergies.

The commitments of the Financial Investors will combine with NextDecade’s own obligations to underpin the $18.4 billion in financing for RGLNG Phase 1, making it the largest greenfield energy project financing in U.S. history. Concurrent with reaching the positive FID, NextDecade issued notice to Bechtel Energy Inc. to proceed with construction under its turnkey engineering, procurement and construction contracts (EPC).