(Source: Shutterstock.com)
Houston-based NextDecade Corp.’s Rio Grande LNG (RGLNG) Train 4 has executed a lump-sum, turnkey engineering, procurement and construction contract with Bechtel.
RGLNG Train 4 agreed to pay Bechtel approximately $4.3 billion for the work under the EPC contract, NextDecade announced on Aug. 5.
The company currently projects that owner’s costs, contingencies, financing fees and interest during construction will total approximately $1.7 billion to $1.9 billion, based on current estimates and expected interest rates.
NextDecade estimates total project costs to be $6 billion to $6.2 billion for Train 4 and related infrastructure, in line with the per train cost of the three-train Phase 1 at the Rio Grande LNG Facility.
NextDecade said contract’s price validity extends through Dec. 31.
The company is continuing targeting a positive final investment decision for Train 4 in the second-half of 2024.
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