Galp signs a 20-year LNG deal with NextDecade Corporation
The supply will be provided through the Rio Grande LNG terminal in the US state of Texas and, according to the Portuguese company, commercial deliveries "are expected to start in 2027."
Galp Energia has signed a 20-year Sales and Purchase Agreement (SPA) with NextDecade Corporation for access to one million tonnes per year of liquefied natural gas (LNG) in the U.S., the company announced in a statement sent to the Portuguese Securities and Exchange Commission (CMVM).
The supply will be provided through the Rio Grande LNG terminal in the U.S. state of Texas. According to the Portuguese company, commercial deliveries “are expected to start in 2027.”
“This agreement enhances Galp’s access to competitive U.S. LNG volumes, supplementing supplies from Venture Global, which are due to start during 2023. It also adds more flexibility and geographic diversity to its sourcing portfolio,” explains the company.
NextDecade Corporation, through its owned subsidiaries Rio Grande LNG and NEXT Carbon Solutions, is developing a 27 MTPA LNG export facility in South Texas along with one of the largest carbon capture and storage (CCS) projects in North America.
