Aramco subsidiary to buy LNG from US facility
11 April 2025
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Saudi Aramco has signed a sale and purchase agreement with US-based NextDecade Corporation (NextDecade) for liquefied natural gas (LNG) from a planned fourth train at the Rio Grande facility located at the Port of Brownsville in the US state of Texas.
An Aramco subsidiary will purchase up to 1.2 million tonnes a year (t/y) of LNG for 20 years on a free-on-board basis, at a price indexed to Henry Hub, subject to a positive final investment decision (FID) on Rio Grande train 4.
Achieving a positive FID on Rio Grande train 4 will be subject to, among other things, entering into appropriate commercial arrangements, and obtaining adequate financing to construct the train and related infrastructure, NextDecade, the operator of the project, said.
The giant Rio Grande facility is expected to have a total liquefaction capacity of 48 million t/y.
The sale and purchase agreement between Aramco and NextDecade converts a previous non-binding heads of agreement signed last June.
ALSO READ: Aramco raises stake in LNG project financier MidOcean Energy
NextDecade signed a similar LNG supply deal last May with Abu Dhabi National Oil Company (Adnoc). As part of this offtake agreement, Adnoc will purchase 1.9 million t/y of LNG on a free-on-board basis at a price indexed to Henry Hub. This deal is also subject to an FID by NextDecade on the fourth and fifth processing trains at the Rio Grande complex.
In addition to the offtake agreement, Adnoc also acquired an 11.7% stake in phase one of the Rio Grande LNG export project, marking its first investment in the US. Adnoc acquired the equity stake in the first phase of the project through an investment vehicle of US-based Global Infrastructure Partners (GIP).
Adnoc acquired a portion of GIP’s existing equity interest in phase one of the Rio Grande LNG project, while NextDecade retains its previously announced expected economic interest in phase one, as well as its interests in the planned train 4 and train 5 expansion capacity.
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The bid submission deadline is 26 February.
The first scheme under the package is TF-16-C1, which involves upgrading and rehabilitating the stormwater system east of the Dubai Canal.
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Modon tenders Ras El-Hekma construction contracts
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Abu Dhabi-based developer Modon Holding has tendered several contracts as part of the first phase of development at Ras El-Hekma, a planned new city on Egypt’s Mediterranean coast.
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DP3 assets: covering 146 residential villas, 590 three-bedroom townhouses, 356 four-bedroom townhouses, a mall and other associated works.
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Modon has accelerated development works at Ras El-Hekma this year. In January, MEED reported that Modon Holding had awarded a E£15bn ($316m) contract for the construction of a project at Ras El-Hekma.
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