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NextDecade
NextDecade was founded in 2010 and is headquartered in Houston, Texas.
NextDecade
NextDecade was founded in 2010 and is headquartered in Houston, Texas. Chairman and CEO Matthew Schatzman leads the company, which is structured as a pure-play liquefied natural gas development and export business rather than a traditional family office or investment fund. The firm's sole operational focus is the Rio Grande LNG terminal at the Port of Brownsville, a massive greenfield construction project permitted for up to 27 million tonnes per annum of LNG production. NextDecade's strategy rests on a single concentrated bet: developing the Rio Grande LNG facility to convert abundant Permian Basin and Eagle Ford shale gas into liquefied natural gas for export. The project finances itself through binding 20-year sale-and-purchase agreements with counterparties including TotalEnergies, Shell, ENGIE, and China Gas Holdings. NextDecade secured a final investment decision on the first three liquefaction trains in July 2023, backed by $18.4 billion in project financing (per Reuters, 2023). The firm pairs the terminal with a proposed carbon capture and storage facility, the Rio Grande CCS project, aiming to reduce the facility's Scope 1 and 2 emissions — a differentiation from legacy Gulf Coast LNG terminals. NextDecade operates as a publicly listed company (NASDAQ: NEXT) with no private family capital behind it, distinguishing it from privately held energy infrastructure developers. In July 2023, the firm achieved a long-awaited milestone by sanctioning Phase 1 of the Rio Grande LNG project, making it one of the largest greenfield energy infrastructure financings in US history. Beyond Houston, the firm's development footprint is concentrated exclusively in South Texas. Adjacent activities include the ongoing engineering and commercial marketing of future expansion trains (Trains 4 and 5) and the development of the Rio Bravo pipeline connecting producer supply to the terminal. The structural differentiator for NextDecade is its integration of proposed carbon capture with a US Gulf Coast LNG export terminal. While most US LNG developers market their product based solely on price and reliability, NextDecade has positioned Rio Grande LNG as a lower-emission alternative by coupling it with the Rio Grande CCS project, which the firm claims can reduce permitted emissions by more than 90 percent. This architecture targets European and Asian utilities subject to tightening methane regulations and carbon border taxes.
General information
Firm type
Asset Manager
Year founded
2010
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Houston
Corporate office
Houston, TX, United States
Principals
Matthew Schatzman
Chairman and Chief Executive Officer
Sector focus
Frequently asked questions
What is the core business of NextDecade?
NextDecade is a pure-play LNG development company. The firm's sole operating asset is the Rio Grande LNG export terminal in Brownsville, Texas, which is permitted for up to 27 million tonnes per annum of liquefaction capacity. The company generates no material revenue until the first liquefaction train enters commercial service, expected in 2027. All commercial momentum derives from long-term LNG sale-and-purchase agreements underpinning project financing.
What differentiates Rio Grande LNG from other US Gulf Coast export terminals?
NextDecade has paired the Rio Grande LNG terminal with a proposed carbon capture and storage facility, targeting over 90 percent reduction in permitted Scope 1 and 2 emissions. This design is specifically pitched to meet the procurement requirements of European utilities and Asian buyers facing tightening methane regulations. The carbon capture component remains subject to separate permitting and final investment decision.
Who are the primary offtakers for NextDecade's LNG?
Binding long-term sale-and-purchase agreements have been signed with TotalEnergies, Shell, ENGIE, China Gas Holdings, ExxonMobil, and Guangdong Energy, among others. Most contracts follow a 20-year free-on-board structure, transferring title at the Brownsville terminal. The offtaker base is split between Asian utilities and European integrated energy companies.
How was the Rio Grande LNG Phase 1 project financed?
Phase 1 (Trains 1–3) reached financial close in July 2023 with $18.4 billion in total project financing, one of the largest greenfield energy infrastructure debt packages in US history. The lender group comprised over 30 commercial banks and export credit agencies. Global Infrastructure Partners invested approximately $500 million in NextDecade equity to support the development (per the firm's SEC filings, 2023).
Is NextDecade structured as a family office or a public company?
NextDecade Corp is a publicly traded entity listed on the NASDAQ under the ticker NEXT. It is not a family office and has no single-family wealth origin. Institutional and retail shareholders own the firm, making its governance and disclosure obligations subject to SEC regulations appropriate for a public LNG developer.
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