NextDecade and Mubadala Investment Company, the Abu Dhabi–based sovereign investor, have reached an agreement for Mubadala to purchase $50 million of NextDecade’s common stock in a private placement. NextDecade will issue the common stock to Mubadala at a price of $6.27 per share.
Mubadala’s investment strengthens NextDecade’s capital position as the company continues to develop its Rio Grande LNG project, the largest liquefied natural gas (LNG) export solution linking Permian Basin associated gas to the global LNG market.
“We strongly believe that the Rio Grande LNG project is optimally positioned to provide a highly competitive export route for the abundant gas resources of the Permian Basin and a compelling commercial proposition for LNG customers, Permian producers and NextDecade shareholders alike,” said Khalifa Al Romaithi, executive director, midstream at Mubadala. “Our investment also reflects Mubadala’s positive outlook on the global gas market
