Shell will purchase LNG on a free-on-board basis starting from the commercial operation date of Rio Grande LNG, currently expected in 2023.<\/p>\n
\u201cWe are honored to have Shell as the first foundation customer of our Rio Grande LNG project,\u201d said Matt Schatzman, NextDecade\u2019s president and chief executive officer. \u201cShell is not only the largest portfolio LNG company in the world, Shell is also a recognized pioneer in the global LNG business.\u201d<\/p>\n
Growing demand<\/strong><\/p>\n \u201cLNG continues to be the fastest-growing gas supply source to 2035,\u201d said Slavko Preocanin, Vice President, Shell LNG Marketing & Trading. \u201cThis agreement secures more volume for our portfolio in the 2020s and ensures we can meet the growing demand for secure, flexible and cleaner energy from our global customers. We look forward to working with NextDecade in the years to come.\u201d<\/p>\n In December, Texas Commission on Environmental Quality (TCEQ) voted to issue a series of air permits to the project.<\/p>\n A final environmental impact statement is expected from the Federal Energy Regulatory Commission (FERC) on 26 April. The Federal authorisation decision deadline is 25 July and a final investment decision is expected in the third quarter of 2019.<\/p>\n