• NextDecade awaits supplemental environmental approval for Train 4
• TotalEnergies invests $300 million for 10% stake in Train 4
• TotalEnergies declines long-term contract for NextDecade's proposed Train 5

Aug 11 (Reuters) - U.S. liquefied natural gas developer NextDecade (NEXT.O) , opens new tab will receive up to $1.8 billion in equity commitments from TotalEnergies (TTEF.PA) , opens new tab and Global Infrastructure Partners (GIP) to finance a fourth liquefaction plant at its Rio Grande LNG export project in Texas, the company said on Monday.

The move brings NextDecade one step closer to a positive financial decision on the 5.4 million metric tons per annum (mtpa) facility, known as Train 4. A liquefaction plant converts natural gas to a liquid, allowing its transport over long distances.

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NextDecade is awaiting a final order on the remand for the project from the Federal Energy Regulatory Commission; FERC has completed the final environmental impact statement and its staff last week recommended the project be allowed to proceed.

Based on FERC's published schedule, it anticipates a final order on the remand by November 20, NextDecade said on Monday in an email response to Reuters.

TotalEnergies will contribute about $300 million for a 10% stake in the Train 4 joint venture, while a GIP affiliate will invest up to $1.5 billion for a 50% interest, which will fall to 30% once certain return thresholds are met, NextDecade said.

NextDecade, through its subsidiaries, will provide up to $1.2 billion for a 40% interest, which could rise to 60% after GIP reaches agreed returns, according to the filing.

TotalEnergies has a long-term agreement with NextDecade to purchase 1.5 million metric tons of LNG from Train 4 but has declined to invest or purchase the superchilled gas on a long-term contract from NextDecade's proposed Train 5 export facility.

NextDecade has entered into a fixed-price contract for the construction of Train 4 with Bechtel for $4.77 billion, but the price is only valid until September 15, according to the company.

NextDecade is building its Rio Grande LNG facility with a capacity of 17.6 mtpa, and is developing Trains 4 and 5 with a combined additional capacity of 10.8 mtpa. The projects are expected to assist the U.S. remain as the largest LNG exporter in the world.

(This story has been corrected to say 'a final order on the remand,' not 'a final order to proceed with the project,' in paragraph 3, and 'in an email response to Reuters,' not 'in a regulatory filing,' in paragraph 4)

https://www.reuters.com/business/energy/nextdecade-secures-18-billion-totalenergies-gip-rio-grande-lng-project-2025-08-11/