NextDecade Locks In 20-Year LNG Supply Deal With Aramco: Details
Portfolio Pulse from Lekha Gupta
NextDecade Corporation (NASDAQ:NEXT) has signed a non-binding Heads of Agreement with Aramco for a 20-year LNG supply deal. Aramco plans to buy 1.2 million tonnes per annum of LNG from Train 4 at the Rio Grande LNG Facility. The deal is contingent on a positive Final Investment Decision expected in the second half of 2024. NextDecade shares are trading higher following the announcement.
June 13, 2024 | 3:55 pm
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POSITIVE IMPACT
Listed Funds Trust Roundhill Alerian LNG ETF (NYSE:LNGG) may see positive movement due to its exposure to NextDecade, which has signed a significant LNG supply deal with Aramco.
LNGG ETF has exposure to NextDecade, and the positive news regarding the 20-year LNG supply deal with Aramco could lead to a favorable impact on the ETF's performance.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Exchange Traded Concepts Trust Range Global LNG Ecosystem Index ETF (NYSE:LNGZ) may see positive movement due to its exposure to NextDecade, which has signed a significant LNG supply deal with Aramco.
LNGZ ETF has exposure to NextDecade, and the positive news regarding the 20-year LNG supply deal with Aramco could lead to a favorable impact on the ETF's performance.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
NextDecade Corporation has signed a non-binding Heads of Agreement with Aramco for a 20-year LNG supply deal, causing its shares to trade higher. The deal is contingent on a positive Final Investment Decision expected in the second half of 2024.
The announcement of a significant long-term supply deal with a major player like Aramco is a positive development for NextDecade, boosting investor confidence and share price. The deal's finalization is contingent on a positive FID, expected in the second half of 2024.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100