Rio Grande LNG has secured a lease agreement with the Brownsville Navigation District for land to build an LNG export terminal.
The lease agreement, which covers an 984-acre parcel of land in Cameron County, Texas, carries an initial term of 30 years, with two options to renew and extend the term of the lease for period of ten years each. The lease agreement supersedes exclusive site option agreements.
On the site in the Port of Brownsville, NextDecade, of which Rio Grande LNG is a subsidiary of, plans to construct, operate, and maintain a LNG export terminal, including gas treatment, liquefaction and other supporting facilities and infrastructure.
Rio Grande LNG and its associated Rio Bravo Pipeline are one of the largest proposed private investments in Texas.
Matt Schatzman, president and CEO of NextDecade, says: 'We are pleased to have formally executed our lease agreement with the Brownsville Navigation District, and appreciate the ongoing support of Chairman Reed and the BND Commission. As we continue to advance our Rio Grande LNG project, we look forward to creating opportunities for local workers and communities across the Rio Grande Valley.'
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