NextDecade Comments on Recent Lawsuits | Company
HOUSTON – (BUSINESS WIRE) – August 3, 2021–
Today, the United States Court of Appeals for the DC Circuit issued an order and separate opinion regarding the Federal Energy Regulatory Commission (FERC) clearance of the Rio LNG export project. Grande (RGLNG) from NextDecade.
In the order and separate opinion, the court dismissed all but two of the claims of opponents of RGLNG. The Court asked FERC to explain in more detail two technical elements related to climate change and environmental justice. In its conclusion, the Court expressly stated that it is “reasonably probable” that FERC, in the event of a dismissal, could remedy the two deficiencies identified “while achieving the same result”.
“We are delighted that the Court has confirmed the validity of the FERC authorization for our Rio Grande LNG project and we look forward to FERC’s response to the Court’s requests,” said Matt Schatzman, President and CEO by NextDecade. “Efforts to reduce global greenhouse gas emissions are the very foundation of our business and we have already announced actions to reduce Rio Grande LNG emissions by more than 90% through the use of carbon capture and storage. “
At NextDecade, we are taking real action to reduce the greenhouse gas intensity of the LNG we sell and to help our customers reduce CO 2 emissions from their facilities. Natural gas in the form of LNG will play an important role in the energy transition, but its contribution to global greenhouse gas emissions must be reduced to the strict minimum. In addition, to limit global warming to 1.5 degrees Celsius, it is essential to reduce greenhouse gas emissions such as CO 2 from industrial scale facilities around the world.
About NextDecade Corporation
NextDecade Corporation is a clean energy company accelerating the path to a net zero future. At the forefront of innovation in greener LNG and carbon capture solutions, NextDecade is committed to providing the world with access to cleaner energy. Through our wholly owned subsidiaries Rio Grande LNG and NEXT Carbon Solutions, we are developing a 27 mtpa LNG export facility in South Texas as well as one of the largest gas capture and storage projects. carbon in North America. We are also working with third party customers around the world to deploy our proprietary processes to reduce carbon capture and storage costs and reduce CO 2 emissions at their industrial scale facilities. NextDecade common stock is listed on the Nasdaq under the symbol “NEXT”. NextDecade is headquartered in Houston, Texas. For more information, please visit www.next-decade.com.
Forward-looking information for the next decade
This press release contains forward-looking statements within the meaning of US federal securities laws. The words “anticipate”, “contemplate”, “estimate”, “expect”, “plan”, “plan”, “intend”, “believe”, “can”, “could”, ” will ”,“ will ”,“ could ”,“ should ”,“ may have ”,“ probably ”,“ continue ”,“ design ”and other words and terms with similar expressions are intended to identify forward-looking statements, and such statements may relate to the business of NextDecade and its subsidiaries. These statements are based on NextDecade’s current assumptions, expectations and projections regarding future events and trends and involve a number of known and unknown risks, which may cause actual results to differ materially from the expectations expressed or implied in them. forward-looking statements. These risks include NextDecade’s progress in developing its LNG liquefaction and export projects and the timing of such progress; NextDecade’s final investment decision (“FID”) in the construction and operation of an LNG terminal at the Port of Brownsville in South Texas (the “Terminal”) and the timing of such decision; the successful completion of the terminal by third party contractors and a gas pipeline to supply gas to the terminal under development by a third party; the ability of NextDecade to develop the Terminal carbon capture and storage project (the “CCS Project”) to reduce Terminal carbon emissions; the ability of NextDecade to secure additional debt and equity financing in the future to complete the terminal; the ability of NextDecade to secure additional debt and equity financing in the future to complete the CCS project, if implemented; the accuracy of the estimated costs for the Terminal; the accuracy of the estimated costs for the CCS project; statements that the terminal and CCS project, when completed, will have certain characteristics, including the amounts of liquefaction capacity and the amount of CO 2 reduction; development risks, operational hazards, regulatory approvals applicable to the construction and operation activities of the terminal, CCS project and third party pipeline; technological innovation which may reduce the competitive advantage expected from NextDecade; global demand and price for LNG; the availability of LNG ships around the world; changes in laws and regulations relating to the LNG industry, including environmental laws and regulations that impose significant compliance costs and liabilities; global pandemics, including the 2019 novel coronavirus pandemic, and their impact on NextDecade’s business and operating results, including any disruption in its operations or terminal development and the health and safety of NextDecade employees , and on NextDecade customers, the global economy and LNG demand; risks associated with doing business and having counterparties in foreign countries; the ability of NextDecade to maintain the listing of its securities on a stock exchange or a listing medium; changes negatively affecting the activity in which we are engaged; growth management; general economic conditions; the ability of NextDecade to generate liquidity; compliance with environmental laws and regulations; the outcome of future fundraising efforts and customary tax incentive demands; and other matters discussed in the “Risk Factors” section of NextDecade’s annual report on Form 10-K for the fiscal year ended December 31, 2020 and other subsequent reports filed with the Securities and Exchange Commission, which are all incorporated herein by reference. In addition, any development of the terminal and the CCS project remains subject to the conclusion of the required commercial agreements, obtaining all necessary permits and approvals, securing all financing commitments and potential tax incentives, fulfillment of other customary conditions and the final investment decision. The forward-looking statements contained in this press release speak as of the date of this press release. Although NextDecade believes that the expectations reflected in these forward-looking statements are reasonable, it cannot guarantee that the expectations will prove to be correct. NextDecade may from time to time voluntarily update its prior forward-looking statements, however, it disclaims any commitment to do so, except as required by securities laws.
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KEYWORD: UNITED STATES NORTH AMERICA TEXAS
INDUSTRY KEYWORD: OIL / GAS ENERGY ENVIRONMENT OTHER ENERGY SERVICES
SOURCE: NextDecade Corporation
Copyright Business Wire 2021.
PUB: 08/03/21 18:21 / DISC: 08/03/2021 18:22
Copyright Business Wire 2021.