NextDecade, Aramco units execute non-binding Heads of Agreement for LNG SPA

Aramco and NextDecade announced that their respective subsidiaries have executed a non-binding Heads of Agreement for a 20-year liquefied natural gas sale and purchase agreement for offtake from Train 4 at the Rio Grande LNG Facility at the Port of Brownsville, Texas, USA. Under the terms of the HoA, Aramco expects to purchase 1.2M tonnes per annum of LNG for 20 years on a free on board basis, at a price indexed to Henry Hub. Aramco and NextDecade are currently in the process of negotiating a binding agreement, and once executed, the effectiveness of which will be subject to a positive Final Investment Decision on Train 4.