By Kelly Cloonan
Shares of NextDecade climbed after the company announced a 20-year liquefied natural gas sale-and-purchase agreement with a subsidiary of Saudi Arabian Oil Co., known as Aramco.
NextDecade shares were up as much as 27% Tuesday morning and recently rose 14% to $6.83, bringing the stock's gain over the last 12 months to 22%.
The Houston-based energy company said Tuesday that the Aramco unit will purchase 1.2 million tonnes per annum of LNG for 20 years, at a price indexed to Henry Hub, from NextDecade's Rio Grande LNG Train 4 on a free-on-board basis.
The agreement is subject to a positive final investment decision, which depends on a number of factors including appropriate commercial arrangements and adequate financing to construct Train 4 and related infrastructure.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
April 08, 2025 11:18 ET (15:18 GMT)
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