NextDecade CEO Says Company Prepared To Appeal To U.S. Supreme Court To Overturn Federal Court Ruling That Quashed FERC Approval For Rio Grande LNG Project; Does Not Expect Courts To Halt Construction Until Final Ruling; Stock Price Decline Due To Increased Project Risks
Portfolio Pulse from Benzinga Newsdesk
NextDecade's CEO announced the company's intention to appeal to the U.S. Supreme Court after a federal court overturned FERC's approval for the Rio Grande LNG project. Despite the legal challenges, the CEO does not anticipate construction halting before a final ruling. The stock price has declined due to increased project risks.
September 09, 2024 | 7:47 pm
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NextDecade faces legal challenges as it plans to appeal a federal court ruling that overturned FERC's approval for its Rio Grande LNG project. The CEO expects construction to continue, but the stock price has declined due to increased project risks.
The federal court's decision to overturn FERC's approval introduces significant legal and operational uncertainties for NextDecade's Rio Grande LNG project. This increases the perceived risk among investors, leading to a decline in stock price. The CEO's statement that construction will continue may mitigate some concerns, but the overall impact remains negative due to the unresolved legal issues.
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