Bechtel wins $4.3-billion EPC contract for Rio Grande LNG

USA

HOUSTON, August 6, 2024 – NextDecade subsidiary Rio Grande LNG Train 4 has executed a lump-sum turnkey EPC contract with Bechtel Energy for the construction of Train 4 of the Rio Grande LNG export facility in Texas, NextDecade announced on Monday.

Bechtel will receive approximately USD 4.3 billion for the work. NextDecade estimates that owner’s costs, contingencies, financing fees and interest during construction will be approximately USD 1.7 billion-1.9 billion.

Total project costs for Train 4 and related infrastructure are estimated between USD 6 billion and USD 6.2 billion, in line with the cost of the three-train Phase 1 at the Rio Grande LNG Facility, which Bechtel is currently constructing.

NextDecade expects to reach a positive FID on Train 4 in the second half of 2024.

Rio Grande LNG, located near Brownsville, Texas, is the first LNG project in the US offering emissions reductions through CCS. It is expected the facility will capture and permanently store more than 5 million tpy of carbon dioxide.

Rendering of Rio Grande LNG courtesy of Bechtel

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