ADNOC Secures 11.7% Equity Position and LNG Offtake Agreement in NextDecade's Rio Grande LNG Project
Portfolio Pulse from Benzinga Newsdesk
ADNOC has acquired an 11.7% stake in NextDecade Corporation's Rio Grande LNG project and entered into a 20-year LNG offtake agreement.
May 20, 2024 | 10:03 am
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ADNOC has acquired an 11.7% stake in NextDecade's Rio Grande LNG project and signed a 20-year LNG offtake agreement, which could enhance NextDecade's financial stability and project viability.
The acquisition of an 11.7% stake by ADNOC and the long-term offtake agreement provide financial backing and market stability for NextDecade's Rio Grande LNG project. This is likely to be viewed positively by investors, potentially driving up the stock price in the short term.
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