BROWNSVILLE – NextDecade Corporation announced Feb. 1 the completion of the front-end engineering and design (FEED) update package with CB&I for the proposed Rio Grande LNG project at the Port of Brownsville.

The update incorporates identified cost reduction and value improvement initiatives and reconfirms market-leading engineering, procurement and construction (EPC) cost estimates for three trains of $490 per ton with a target of $450 per ton. For two trains the EPC cost estimate improves to $535 per ton with a target of $500 per ton, the company said.

“Utilizing Air Products’ AP-C3MR liquefaction technology and GE rotating equipment to achieve optimal configuration and economies of scale, Rio Grande LNG stands out thanks to its proven project design allowing for low risk, highly competitive economics across multiple build scenarios,” said NextDecade CEO Matt Schatzman.

The scalable development affords NextDecade flexibility to reach Final Investment Decision (FID) with as few as two trains, without sacrificing economics.

“We intend to develop our full 6-train project at Rio Grande, and by incorporating a competitive, scalable design, we are able to offer a lower risk profile to both investors and customers beginning with our first two trains,” added Schatzman.

NextDecade and CB&I are currently finalizing an open book estimate to incorporate the FEED update improvements.

For additional information about the Rio Grande LNG project visit http://next-decade.com/