NextDecade has confirmed a US$356m financing for part of Rio Grande LNG's first development phase. The terminal will be built in Brownsville, Texas.

According to the company, financing to the project has been acquired by senior loans from a consortium of lenders under a credit agreement.

Phase 1 of Rio Grande LNG, whose financial investment decision (FID) was taken in July 2023, will cover the construction of three liquefactions trains, a combined capacity of 17.6 million tonnes per annum (mtpa).

The  export facility, once fully complete with the two additional trains that are also planned, will be able to provide enough power to about 34 million homes in the United States.