NextDecade Corporation (NextDecade or the Company) (NASDAQ: NEXT) announced today that it has executed a 20-year liquefied natural gas (LNG) sale and purchase agreement (SPA) with JERA for offtake from Train 5 at the Rio Grande LNG Facility.

Under the terms of the SPA, JERA will purchase 2.0 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 5.

“We are pleased to announce JERA, the largest power generator in Japan and a long-established LNG market leader, as a customer for Rio Grande LNG Train 5,” said Matt Schatzman, NextDecade’s Chairman and Chief Executive Officer. “We have seen strong commercial momentum this year for Rio Grande LNG, which is helping us commercialize Train 5 toward a positive FID.”

Achieving a positive FID on Train 5 will be subject to, among other things, entering into appropriate commercial arrangements, entering into an engineering, procurement, and construction agreement, and obtaining adequate financing to construct Train 5 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 JERA Co., Inc.

Established in 2015, JERA is an equal joint venture of two major Japanese electric power companies, TEPCO Fuel & Power Incorporated and Chubu Electric Power Company and produces about 30 per cent of all electricity in Japan. JERA is an energy company with global reach that has strength in the entire energy supply chain, from participation in LNG upstream projects and fuel procurement, through fuel transportation to power generation. JERA, which stands for ‘Japan’s Energy for a New Era’, will take on the challenge of achieving net zero CO2 emissions from its domestic and overseas businesses by 2050 and is supporting an energy transition in an environmentally and socially responsible manner.