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NextDecade Raises Additional $85 million in Pre-FID Funding for its Rio Grande LNG Project, Makes Significant Progress with FERC
NextDecade, LLC (NextDecade) announced that Valinor Management, L.P. (Valinor) and Halcyon Energy Investors, L.P. (Halcyon) have joined certain funds managed by York Capital Management Global Advisors, LLC and its affiliates (York) in providing NextDecade with an additional US$85 million in order to take the Rio Grande LNG (RGLNG) and Rio Bravo Pipeline project to Final Investment Decision (FID) as well as to fund the continued development of Pelican Island LNG (PILNG) in Galveston, Texas. 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. Together, York, Valinor and Halcyon manage assets in excess of US$40 billion. Jefferies LLC served as sole placement agent for NextDecade.

CB&I Announces Contract for Rio Grande LNG Project
CB&I (NYSE:CBI) today announced it has been awarded a contract by NextDecade LLC, for the front end engineering and design (FEED) and engineering, procurement and construction terms related to the Rio Grande LNG export project in Brownsville, Texas.