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NextDecade Receives Draft Environmental Impact Statement for Rio Grande LNG

 October 12, 2018 - 1:49 PM EDT

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NextDecade Receives Draft Environmental Impact Statement for Rio Grande LNG

HOUSTON

NextDecade Corporation (“NextDecade”) (NASDAQ: NEXT) announced today
that the Federal Energy Regulatory Commission (“FERC”) has issued a
draft environmental impact statement (“EIS”) for NextDecade’s Rio Grande
LNG project in South Texas, as well as the associated Rio Bravo Pipeline
to originate in the Agua Dulce area.

The draft EIS issued today was prepared in accordance with statutory
requirements in the National Environmental Policy Act. FERC is the
primary agency responsible for the review and permitting of LNG
facilities in the United States. FERC’s rigorous process includes a
detailed review of environmental, engineering, social, and other
elements of proposed projects.

“We appreciate the FERC staff’s continued commitment to the review of
our project,” said Matt Schatzman, NextDecade’s President and Chief
Executive Officer. “The draft EIS represents a culmination of several
years of analysis and evaluation in conjunction with multiple federal,
state, and local agencies and stakeholders.”

Mr. Schatzman continued, “This milestone brings us one step closer to
achieving a final investment decision on the Rio Grande LNG project, to
creating thousands of jobs in the Rio Grande Valley and communities
throughout the State of Texas, and to delivering reliable energy
solutions to our customers around the world.”

According to the notice of schedule FERC published in August 2018, FERC
will issue a final EIS on April 26, 2019. FERC has established a 90-day
Federal Authorization Decision Deadline of July 25, 2019. Assuming a
favorable FERC order, NextDecade anticipates a final investment decision
on the project in the third quarter of 2019.

Rio Grande LNG and Rio Bravo Pipeline regulatory timeline

             
Section 3(a) & 7(c) FERC Application           May 5, 2016
Notice of Schedule of Environmental Review           August 31, 2018
Draft Environmental Impact Statement           October 12, 2018
Final Environmental Impact Statement           April 26, 2019
Federal Authorization Decision Deadline           July 25, 2019
         

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.

NextDecade Corporation
Investors:
Patrick
Hughes, + 1 (832) 209 8131
phughes@next-decade.com
or
Media:
Ashley
Helmer, + 1 (281) 249 5453
ahelmer@next-decade.com

Source: Business Wire
(October 12, 2018 - 1:49 PM EDT)

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