HOUSTON--(BUSINESS WIRE)--Oct. 23, 2018-- NextDecade Corporation (“NextDecade”) (NASDAQ: NEXT) announced today that it has appointed Erik Ludtke as Chief Commercial Officer effective November 1, 2018. In this role, Mr. Ludtke will be responsible for developing and managing the natural gas supply portfolio, the midstream assets, and the commercial operations required to provide NextDecade’s customers with reliable liquefied natural gas (“LNG”) from NextDecade’s Rio Grande LNG and Galveston Bay LNG projects. Mr. Ludtke will report to Matt Schatzman, NextDecade’s President and Chief Executive Officer.
“Erik brings considerable expertise and a proven track record to our management team and will further strengthen NextDecade’s ability to deliver creative solutions to our LNG customers and natural gas suppliers,” said Mr. Schatzman. “He joins us at an exciting time as we build momentum at our Rio Grande LNG project, supported by our optimal gas supply location in South Texas, our competitive EPC process, the recent issuance of our draft environmental impact statement by FERC, and commercial progress with LNG customers.”
“I am thrilled to join the talented and experienced NextDecade team and believe the company has excellent prospects for success,” said Mr. Ludtke. “I look forward to helping NextDecade leverage the significant competitive advantages of its Rio Grande LNG project, including proximity to the Permian Basin and Eagle Ford Shale, which affords LNG customers access to abundant natural gas resources and offers producers a valuable outlet to global LNG markets.”
Mr. Ludtke has nearly 25 years of experience in the energy industry. Prior to joining NextDecade, Mr. Ludtke led commercial and business development activities at NorthStar Midstream, a portfolio company of Oaktree Capital. From 2006 until 2011, Mr. Ludtke led Apache Corporation’s oil and gas marketing and trading group in the U.S. and Latin America. Prior to 2006, Mr. Ludtke spent six years with Duke Energy, including three years as President of the company’s South America (Southern Cone) business unit, and he worked at BG Group where he managed projects and regional business units, including assignments and leadership roles in Argentina, India, Israel, and the United Kingdom. Mr. Ludtke holds an economics degree from Texas A&M University and completed executive development course work at The Wharton School of the University of Pennsylvania.
About NextDecade Corporation
NextDecade is an LNG development company primarily focused on LNG export projects and associated pipelines in Texas. NextDecade intends to develop a portfolio of LNG projects, including the 27 mtpa Rio Grande LNG export facility in Brownsville, Texas and the 4.5 Bcf/d Rio Bravo Pipeline that would transport natural gas from the Agua Dulce area to the Rio Grande LNG export facility. NextDecade’s common stock is listed on the Nasdaq Stock Market under the symbol “NEXT.” NextDecade is headquartered in Houston.
Located at the Port of Brownsville in South Texas, NextDecade’s Rio Grande LNG project is expected to be a leader among second wave U.S. LNG projects. NextDecade believes its customers and stockholders will benefit from the project’s experienced leadership, proven approach, and optimal location. NextDecade’s technology selections are expected to foster operational reliability and afford NextDecade’s customers access to abundant natural gas from the Permian Basin, Eagle Ford Shale, and other basins.
CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of U.S. federal securities laws. The words “believe,” “expect,” “intend,” “plan,” “potential,” and similar expressions are intended to identify forward-looking statements, and these statements may relate to NextDecade’s business and its subsidiaries. These statements have been based on NextDecade’s current assumptions, expectations, and projections about future events and involve a number of known and unknown risks, which may cause actual results to differ materially from expectations expressed or implied in the forward-looking statements. These risks include uncertainties about NextDecade’s Rio Grande LNG and Rio Bravo Pipeline projects and other matters discussed in the “Risk Factors” section of NextDecade’s Annual Report on Form 10-K for the year ended December 31, 2017 and other subsequent reports filed with the Securities and Exchange Commission, all of which are incorporated herein by reference.
Any development of the projects remain contingent upon completing required commercial agreements; acquiring all necessary permits and approvals; securing all financing commitments and potential tax incentives; achieving other customary conditions; and making a final investment decision to proceed. The forward-looking statements in this press release speak as of the date of this release. Although NextDecade believes that the expectations reflected in these forward-looking statements are reasonable, NextDecade can give no assurance that the expectations will prove to be correct. NextDecademay from time to time voluntarily update its prior forward-looking statements, however, it disclaims any commitment to do so except as required by securities laws.
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Source: NextDecade Corporation
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