Rio Grande LNG is investing $6.7B to expand its export terminal in Brownsville – here’s why

Houston-based energy company NextDecade Corp. reached a final investment decision on Thursday to expand its Brownsville LNG export terminal, currently under construction, adding a fifth liquefaction train for $6.7 billion alone. 

Betchel Energy will be the construction company leading the project. Thousands of construction workers in various trades are expected to be hired as temporary workers on the project. 

NextDecade already has a 20-year contract with customers like ConocoPhillips, JERA, and ETQ Corporation for 4.5 million tonnes per annum out of 6 million tonnes to be built as part of the fifth train to be delivered by 2031. NextDecade is financing the deal with a $3.5 billion loan, with the rest as equity stakes from investors like a BlackRock subsidiary. 

Liquefied natural gas is a supercooled product often exported overseas as an alternative energy source to nations without domestic energy extraction industries, such as many European and Asian countries.