NextDecade in FSRU Deal with Flex LNG
NextDecade Global Solutions, a subsidiary of NextDecade, LLC, and FLEX LNG (FLXNF) have signed a Heads of Agreement (HOA) to create a full value chain solution for customers looking to purchase LNG from NextDecade’s Rio Grande LNG export project in Brownsville, TX.
Initially, NextDecade and FLEX LNG will develop Floating Storage and Regasification Unit (FSRU) and dockside solutions for international customers of NextDecade’s, with the LNG supply also provided by NextDecade.
The agreement will reunite two pioneers of the floating LNG business, NextDecade Chair and CEO Kathleen Eisbrenner and Jonathan Cook who will become CEO of FLEX LNG early next year.
In 2003, Eisbrenner founded Excelerate Energy where she originated and brought to market the first FSRUs, dramatically altering the LNG industry landscape by opening up new markets to LNG with a flexible and cost-effective solution.
At Eisbrenner’s side, Cook as Chief Operating Officer helped lead the development, construction, and operations of those efforts.
“Global interest for NextDecade’s U.S.-produced LNG has demonstrated a need for additional and flexible import solutions worldwide,” said Eisbrenner. “We are delighted to be partnering with FLEX LNG to bring these options to support our customers.”
The HOA stipulates the terms for the long-term charter of FLEX LNG FSRUs, connecting customers with a need for regasification import solutions to NextDecade’s Rio Grande LNG export project.
FLEX LNG is actively developing FSRU solutions which include new-build vessels as well as conversions of existing LNG carriers. The agreement with NextDecade will enable the companies to jointly develop and deliver timely and cost effective import solutions tailored to its customers' needs.
Since the advent of the FSRU, the number of countries capable of importing LNG has more than tripled, with much of this growth directly attributable to the FSRU technology pioneered by Eisbrenner and Cook.
