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Home»Oil & Gas»$9 billion deals for US LNG project land on Bechtel’s worksheet in Lone Star State
Oil & Gas

$9 billion deals for US LNG project land on Bechtel’s worksheet in Lone Star State

June 15, 2025
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NextDecade Corporation Announces Price Changes and Multibillion-Dollar Deal with Bechtel Energy

Houston-headquartered energy player NextDecade Corporation has recently made significant announcements regarding pricing changes for existing contracts and a new multibillion-dollar deal with Bechtel Energy. The collaboration between these two American companies is set to facilitate the construction of liquefied natural gas (LNG) export facilities in the Port of Brownsville, Texas.

Phase 1 of Rio Grande LNG Project

After the final investment decision (FID) for Phase 1 of the Rio Grande LNG project was made in July 2023, Bechtel Energy received approval to proceed with the full construction of the project. This construction officially commenced in October 2023.

The lump sum turnkey engineering, procurement, and construction (EPC) contract for Train 4 and related infrastructure at the Rio Grande LNG project was initially valued at approximately $4.3 billion, with the price validity extending through December 31, 2024.

Price Changes and New Contracts

NextDecade’s subsidiaries have finalized a pricing refresh for the EPC contract with Bechtel for Train 4 and related infrastructure. Additionally, a new lump-sum, turnkey EPC contract has been executed for the construction of Train 5 and related infrastructure at the Rio Grande LNG facility.

Under the revised agreement, Rio Grande LNG Train 4 will pay Bechtel approximately $4.77 billion for the work, with pricing validity extending through September 15, 2025. Train 5 has struck a $4.32 billion deal with Bechtel, with pricing validity also extending through the same date.

Future Prospects

NextDecade anticipates achieving a positive FID on Train 4 before the pricing validity period ends, subject to securing adequate financing. There are also plans to commercialize an additional 2.5 mtpa under long-term LNG SPAs to support the positive FID on Train 5.

See also  French firm wins work on QatarEnergy's giant gas field expansion project

With the potential to expand the Rio Grande LNG facility to include up to ten liquefaction trains, the project represents a significant development in the LNG industry. Additionally, NextDecade is exploring the implementation of a carbon capture and storage (CCS) project at the site to contribute towards a lower-carbon future.

Located near Brownsville, Texas, the Rio Grande LNG project is expected to offer substantial emissions reductions, positioning it as a leader in sustainability within the LNG sector.

Bechtels Billion deals Land LNG Lone project Star State worksheet
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