NextDecade Corporation (NextDecade or the Company) (NASDAQ: NEXT) announced today that TotalEnergies (Total) (NYSE: TTE) has exercised its LNG purchase option with respect to Train 4 at the Rio Grande LNG Facility, and subsidiaries of both companies have executed a long-term liquefied natural gas (LNG) sale and purchase agreement (SPA) for offtake from Train 4.

Under the terms of the SPA, TotalEnergies Gas & Power North America, Inc. will purchase 1.5 million tonnes per annum (MTPA) of LNG for 20 years on a free-on-board basis at a price indexed to Henry Hub, subject to a positive Final Investment Decision (FID) on Train 4.

“TotalEnergies has been a key contributor to the success of Rio Grande LNG Phase 1, and we are pleased to be expanding our strategic partnership with TotalEnergies with the execution of this Train 4 SPA,” said Matt Schatzman, NextDecade’s Chairman and Chief Executive Officer. “This SPA completes the commercial support we need for Rio Grande LNG Train 4, and we are now focused on progressing Train 4 toward a positive FID.”

NextDecade has contracted a total of 4.6 MTPA of LNG from Train 4 on a long-term basis and expects existing long-term commercial agreements to be sufficient to support a positive FID on Train 4. Achieving a positive FID on Train 4 will be subject to, among other things, obtaining adequate financing to construct Train 4 and related infrastructure.

About NextDecade Corporation

NextDecade is committed to providing the world access to reliable, lower carbon energy. We are focused on delivering secure, low-cost, and sustainable energy solutions through the safe and efficient development and operation of natural gas liquefaction and carbon capture and storage infrastructure. Through our subsidiaries, we are developing and constructing the Rio Grande LNG natural gas liquefaction and export facility near Brownsville, Texas, with approximately 48 MTPA of potential liquefaction capacity currently under construction or in development. We are also developing a potential carbon capture and storage project at the facility that is expected to make meaningful impacts toward a lower carbon future. NextDecade’s common stock is listed on the Nasdaq Stock Market under the symbol “NEXT.” NextDecade is headquartered in Houston, Texas.

About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.