NextDecade Selects ABB to Automate and Electrify Second Wave of U.S. LNG
ABB has been selected as the Automation and Electrical partner for NextDecade’s Rio Grande LNG project in South Texas
HOUSTON, Texas, USA (March 7, 2018) — NextDecade Corporation (NextDecade) (NASDAQ: NEXT) has chosen ABB Ltd. (ABB) (SIX Swiss Ex: ABBN) to provide an integrated automation and electrical solution for its Rio Grande LNG project in South Texas. The automation of plant control systems will optimize plant performance and efficiency, representing a logical extension of NextDecade’s low cost, lower risk development strategy in combination with Rio Grande LNG’s optimal South Texas location.
“This agreement enables NextDecade to drive higher capital efficiencies through a unique, integrated approach among ABB, CB&I – NextDecade’s EPC contractor – and the NextDecade team via automation and electrical systems,” said Matt Schatzman, NextDecade President & CEO. “NextDecade expects ABB’s solutions to reduce the schedule, equipment footprint, and cost of our Rio Grande LNG facility, while providing greater operational flexibility.”
“Partnering with ABB not only provides a fully integrated automation and electrical solution, but also ABB Ability™, our integrated digital solutions offering. ABB Ability™ gives customers access to best-practice benchmarking, and transparency into operations, to improve operational performance, efficiency and productivity,” said Greg Scheu, ABB President Americas Region. “Our deep domain expertise, coupled with our history of innovation and collaboration with industry, will deliver a step change in operating efficiencies and improved throughput for NextDecade. Together, ABB, CB&I and NextDecade are helping to transform the growing LNG market in the U.S.”
ABB’s major projects execution center in Houston leads the industry in combined automation and electrical projects designed to deliver higher value for its customers globally. This world-class project delivery model will be fully deployed on NextDecade’s Rio Grande LNG project.
Rio Grande LNG is a proposed 27 mtpa LNG export facility to be located on a 984-acre site on the Brownsville Ship Channel in South Texas and will be constructed in phases timed to meet market demand. The approximately 137-mile proposed Rio Bravo Pipeline will supply the facility with its feedgas, connecting it to the Agua Dulce natural gas supply area. Rio Grande LNG is currently in the advanced stages of the U.S. Federal Energy Regulatory Commission (FERC) review and permitting process.
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About NextDecade Corporation
NextDecade is an LNG development company 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 supply area to Rio Grande LNG. NextDecade’s common stock is listed on the Nasdaq Capital Market under the symbol “NEXT.” NextDecade is headquartered in The Woodlands, Texas. www.next-decade.com
About ABB
ABB (ABBN: SIX Swiss Ex) is a pioneering technology leader in electrification products, robotics and motion, industrial automation and power grids, serving customers in utilities, industry and transport & infrastructure globally. Continuing a history of innovation spanning more than 130 years, ABB today is writing the future of industrial digitalization with two clear value propositions: bringing electricity from any power plant to any plug and automating industries from natural resources to finished products. As title partner of Formula E, the fully electric international FIA motorsport class, ABB is pushing the boundaries of e-mobility to contribute to a sustainable future. ABB operates in more than 100 countries with about 135,000 employees. www.abb.com
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 the business of NextDecade Corporation and its affiliates. These statements 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 the definitive proxy statement filed by Harmony on June 29, 2017 and other subsequent reports filed with the Securities and Exchange Commission (the “SEC”), 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 may from time to time voluntarily update its prior forward-looking statements, it disclaims any commitment to do so except as required by securities laws.
For further information:
ABB
Chris Shigas | + 1 919 308 1816 | chris.shigas@us.abb.com
NextDecade
Investors: Patrick Hughes | + 1 (832) 209 8131| phughes@next-decade.com
Media: Ward for NextDecade | Molly LeCronier | +1 (713) 869 0707 | MLeCronier@wardcc.com
Download a copy of the press release here or view directly on the PR Newswire
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 Rio Grande LNG. NextDecade’s common stock is listed on the Nasdaq Stock Market under the symbol “NEXT.” NextDecade is headquartered in Houston, Texas.
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 shareholders 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 the business of the Company and its subsidiaries. These statements have been based on the Company’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 the Company’s Rio Grande LNG and Rio Bravo pipeline projects and other matters discussed in the “Risk Factors” section of the Company’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 the Company believes that the expectations reflected in these forward-looking statements are reasonable, the Company can give no assurance that the expectations will prove to be correct. The Company may 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.
For further information:
Investors: Patrick Hughes | + 1 (832) 209 8131 | phughes@next-decade.com
Media: Ashley Helmer | + 1 (281) 249 5453 | ahelmer@next-decade.com