NextDecade Provides Third Quarter 2026 Business Update
Key Highlights
- ➤First LNG production from Train 1 expected in Q2 2027
- ➤Phase 1 Train 1 substantial completion expected Q3 2027, ahead of schedule
- ➤Uncontracted LNG implied margins projected above $6 per MMBtu
- ➤FERC approved Trains 1-5 capacity uprate to 30.15 MTPA
- ➤$3.5 billion senior secured notes offering refinanced Phase 1 borrowings
Expert Statements
Matt Schatzman, Chairman and Chief Executive Officer of NextDecade
“During the third quarter, we maintained strong momentum on Rio Grande LNG Phase 1 as we continued to advance construction and commissioning activities safely, on budget, and ahead of schedule.”
Matt Schatzman, Chairman and Chief Executive Officer of NextDecade
“The progress achieved to date continues to strengthen our confidence in our projected Phase 1 start-up timeline.”
Matt Schatzman, Chairman and Chief Executive Officer of NextDecade
“We expect first LNG production from Train 1 in the second quarter of 2027, and substantial completion of Train 1 in the third quarter of 2027, which is a quarter ahead of the guaranteed completion schedule under our EPC contract with Bechtel.”
Matt Schatzman, Chairman and Chief Executive Officer of NextDecade
“The projected timing of these milestones reflects the strong dedication and execution of Bechtel, our employees, and contractors as we continue our transition toward operations.”
Matt Schatzman, Chairman and Chief Executive Officer of NextDecade
“LNG market dynamics remain very favorable for the expected commissioning and start-up of Trains 1 through 5 at Rio Grande LNG.”
Matt Schatzman, Chairman and Chief Executive Officer of NextDecade
“Spot LNG prices remain strong due to the loss of supply from the Middle East.”
Matt Schatzman, Chairman and Chief Executive Officer of NextDecade
“Based on current forward LNG and U.S. natural gas prices, we project volume-weighted average implied margins on uncontracted volumes from Train 1 start-up through the date of first commercial delivery under the Train 5 long-term SPAs, together with the approximately 175 TBtu we sold in the first quarter of this year, to average over $6 per MMBtu – more than $1 per MMBtu above our base case guidance.”
Matt Schatzman, Chairman and Chief Executive Officer of NextDecade
“We also continued to advance our growth initiatives during the quarter.”
Matt Schatzman, Chairman and Chief Executive Officer of NextDecade
“These milestones reflect our team’s disciplined preparation and effective engagement with regulatory agencies throughout the permitting process.”
Matt Schatzman, Chairman and Chief Executive Officer of NextDecade
“In the fourth quarter of 2026, we remain focused on maximizing long-term value for our shareholders, by safely constructing the first five trains at Rio Grande LNG, advancing the development of Train 6 toward a positive final investment decision in the second half of 2027, and further expanding our LNG export capability by beginning the permitting process for Trains 7 and 8 with FERC.”
NextDecade Corporation (“NextDecade,” “we,” or the “Company”) (NASDAQ: NEXT) today provided an update on developmental and strategic activities for the third quarter of 2026.
“During the third quarter, we maintained strong momentum on Rio Grande LNG Phase 1 as we continued to advance construction and commissioning activities safely, on budget, and ahead of schedule,” said Matt Schatzman, NextDecade Chairman and Chief Executive Officer. “The progress achieved to date continues to strengthen our confidence in our projected Phase 1 start-up timeline.”
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