NextDecade Obtains Additional Funding for Rio Grande LNG Terminal
Posted on Jun 22, 2015 in Financing, Liquefaction, LNG Exports | Comments Off on NextDecade Obtains Additional Funding for Rio Grande LNG Terminal
NextDecade, LLC (NextDecade) announced that Valinor Management, L.P. and Halcyon Energy Investors, L.P. have joined certain funds managed by York Capital Management Global Advisors, LLC and its affiliates in providing NextDecade with an additional US$85 million in order to take the proposed Rio Grande LNG (RGLNG) export terminal and Rio Bravo Pipeline project to Final Investment Decision (FID), and to fund the continued development of Pelican Island LNG in Galveston, Texas. According to the press release, the terms of the transaction include options for NextDecade’s three strategic investors to invest the requisite FID equity sufficient to commence construction of the RGLNG project.