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(Reuters) – EQT Corp is in talks to take a supply of liquefied natural gas from NextDecade’s export terminal, which is being built in Texas, Bloomberg News reported on Wednesday, citing people familiar with the matter.
Under the terms of the potential deal, EQT would load the super-chilled fuel from the Rio Grande LNG export facility, the report said.
EQT and NextDecade did not immediately respond to Reuters’ requests for comment.
Commercial activity in the U.S. LNG sector has been increasing rapidly after President Donald Trump lifted a moratorium on new export permits soon after taking office in January.
NextDecade is building its Rio Grande LNG facility with a capacity of 17.6 million tonnes per annum. It is also developing its fourth and fifth liquefaction plants, known as trains, with a combined additional capacity of 10.8 mtpa. The projects are expected to cement the United States’ position as the largest LNG exporter in the world.
The company expects to reach final investment decisions for Trains 4 and 5 in mid-September. LNG developers typically reach an FID on projects once they have secured enough supply deals to obtain the necessary financing for construction.
Shares of NextDecade rose more than 8% in afternoon trading.
Reporting by Sumit Saha in Bengaluru; Editing by Shilpi Majumdar
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