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MUBADALA INVESTS $50MN IN US LNG INFRASTRUCTURE COMPANY NEXTDECADE
10/27/2019 12:00:00 AM

The company will receive a seat on NextDecade's board of directors, and will have the right to contribute project-level capital upon the final investment decision of the Rio Grande LNG project.

Mubadala Investment company, Abu Dhabi's sovereign investment fund, has agreed to purchase $50mn of US energy infrastructure company NextDecade's common stock in a private placement. NextDecade will issue the common stock to Mubadala at a price of $6.27 per share.

NextDecade is a liquefied natural gas (LNG) development company focused on LNG export projects and associated pipelines in Texas. NextDecade intends to develop the largest LNG export solution linking Permian Basin associated gas to the global LNG market, creating value for producers, customers, and stockholders. Its portfolio of LNG projects includes the 27 mtpa Rio Grande LNG export facility in Brownsville, Texas and the 4.5 Bcf/d Rio Bravo Pipeline that would transport natural gas from the Agua Dulce area to Rio Grande LNG.

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