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Galp Agree 20 Year Deal for 1mtpa with NextDecade

LNG

Galp has signed a 20-year sale and purchase agreement with NextDecade Corporation for 1mtpa of US LNG according to a regulatory filing.

  • The volumes will be indexed to Henry Hub on a FOB basis plus a fixed liquefaction fee
  • “This agreement enhances Galp’s access to competitive U.S. LNG volumes, supplementing supplies from Venture Global, which are due to start during 2023,” Galp said
  • The company added that the deal also adds more flexibility and geographic diversity to Galp’s sourcing portfolio.
  • NextDecade’s Rio Grande LNG project in the Port of Brownsville, Texas will be capable of producing 27mtpa of low carbon intensive LNG. Commercial deliveries are expected to start in 2027.
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