NextDecade Climbs 13% On Natural Gas Supply Deal With Guangdong Energy

Shares of NextDecade Corporation (NEXT) are rising more than 13% Thursday morning after the clean energy company announced binding Heads of Agreement (HOA) with Guangdong Energy Group Natural Gas Co., Ltd. for the supply of liquefied natural gas (LNG) for 20 years.

As per the HOA, Guangdong Energy will purchase up to 1.5 million tonnes per annum of LNG indexed to Henry Hub.

The company said the LNG supply will initially be from train one of Rio Grande LNG export project in Brownsville, Texas, which is expected to start operations in 2026.

NEXT is at $4.65 currently. It has been trading in the range of $1.68-$6.13 in the past one year.

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