Source:
Next Decade Corporate Presentation, August 2025.
NextDecade Corporation has secured up to $1.8 billion in equity commitments from TotalEnergies and Global Infrastructure Partners (GIP) to finance Train 4 of its Rio Grande LNG export facility in Texas. Under the deal, TotalEnergies will acquire a 10% stake in the project, while GIP will initially hold up to 50%, with NextDecade retaining as much as 60% depending on returns. The expansion is awaiting approval from the U.S. Federal Energy Regulatory Commission (FERC) and is projected to increase the terminal’s total capacity by several million tonnes of LNG per year, reinforcing the U.S.’s growing role in global LNG supply.
The Rio Grande LNG project, strategically located near the U.S.–Mexico border, is designed to serve both European and Asian markets seeking alternatives to Russian and Middle Eastern gas. TotalEnergies’ involvement strengthens the project’s credibility and secures offtake agreements, while GIP’s capital injection provides the financial muscle to keep construction timelines on track. The facility also incorporates carbon capture and storage components aimed at reducing lifecycle emissions, a response to mounting pressure from regulators and buyers to lower the environmental footprint of LNG production.
This development is significant because it reflects how LNG is positioning itself as a “bridge fuel” in the global energy transition—providing supply security and replacing coal in power generation while renewable capacity scales up. The scale of investment also highlights the strategic value of U.S. LNG in reshaping global energy trade flows, particularly for countries seeking to diversify away from politically volatile suppliers. However, the project will face ongoing scrutiny over its carbon intensity, making environmental performance a decisive factor in sustaining its market competitiveness over the next decade.