NextDecade has agreed to sell its Rio Bravo Pipeline Company (RBPL) to Enbridge for up to $25 million in cash, with $15 million to be paid at closing.
The Rio Bravo Pipeline is designed to transport up to 4.5 billion cubic feet per day of natural gas from the Agua Dulce supply area to NextDecade’s Rio Grande LNG project in Brownsville, Texas.
Following the deal, Enbridge will take complete ownership of RBPL and assume all responsibility for the development, financing, construction and operations of the Rio Bravo Pipeline.
NextDecade will continue to be responsible for the development, financing, construction and operations of its Rio Grande LNG export facility. The company will also retain its rights to the natural gas firm transportation capacity on the Rio Bravo Pipeline for a term of at least 20 years to supply NextDecade’s Rio Grande LNG export facility.
According to NextDecade, last November, the Federal Energy Regulatory Commission (FERC) author
