NextDecade secures $356 mln loan for Rio Grande LNG Phase 1
Sept 20 (Reuters) - NextDecade said on Wednesday it has received a loan worth $356 million from a group of lenders to finance a portion of the Phase 1 of its Rio Grande liquefied natural gas (LNG) export facility in Texas.
The LNG firm said the full amount was disbursed on Sept. 15, leading to lowering of its existing loan commitments for Phase 1 to under $10.8 billion from $11.1 billion.
Located at Brownsville, Texas, the Rio Grande LNG export facility has been in development for several years, suffering repeated delays.
The facility, with a capacity to produce 27 million tonnes per annum of LNG, received a positive final investment decision to construct the first three liquefaction trains (Phase 1) in July.
The $18.4 billion committed for Phase 1 is the largest greenfield energy project financing in U.S. history. (Reporting by Tanay Dhumal in Bengaluru; Editing by Shilpi Majumdar)
