French energy major TotalEnergies has revealed it will purchase a 17.5% interest in US LNG developer NextDecade at a cost of $219mn. The deal, announced on June 14, is part of a broader agreement that will allow the Texas-based firm’s long delayed Rio Grande LNG export terminal to move ahead.

The two companies along with Global Infrastructure Partners (GIP) have agreed to enter into a framework agreement to allow the final investment decision (FID) to be made for the Rio Grande LNG export facility. According to Reuters, the FID is expected to be taken by the end of the month. Both energy companies saw their share prices rise after announcing the deal.

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