NextDecade to Establish Permanent Conservation at the Las Lomas Area

Rhea-AI Summary

NextDecade Corporation (NASDAQ: NEXT) plans to acquire 1,500 acres of the Las Lomas ecological preserve from the Brownsville Navigation District (BND) as part of its sustainability commitments linked to the Rio Grande LNG (RGLNG) project. Following a favorable final investment decision, the acquisition will secure permanent conservation for the land. NextDecade's overall mitigation strategy includes conserving over 4,000 acres, significantly exceeding the 761 acres impacted by the RGLNG export terminal. This initiative reflects the company's focus on habitat mitigation, wetland restoration, and community investment.

Positive

• Acquisition of 1,500 acres for conservation aligns with sustainability goals.
• Total of over 4,000 acres to be conserved, which is five times the impacted area from RGLNG.

Negative

• None.

HOUSTON--(BUSINESS WIRE)-- NextDecade Corporation (NextDecade) (NASDAQ: NEXT) plans to acquire from the Brownsville Navigation District (BND) 1,500 acres of the Las Lomas ecological preserve as part of its ongoing sustainability and community commitments tied to the Rio Grande LNG (RGLNG) project. NextDecade’s commitments include habitat mitigation, wetland restoration, emissions reductions, and community investments.

On March 15, 2023, BND unanimously voted to pass a resolution to preserve the Las Lomas area located within the 40,000 acres of the Port of Brownsville. Upon the announcement of a positive final investment decision on the RGLNG project, NextDecade will acquire 1,500 acres of the Las Lomas preserve and establish a permanent conservation easement, protecting the acreage in perpetuity.

As part of the RGLNG overall mitigation plan, NextDecade plans to conserve more than 4,000 acres including:

• 1,500 acres at the Las Lomas preserve;
• 1,531 acres of property known as the Miradores Mitigation Site, of which approximately 371 acres will be restored to wetlands and the remaining acreage will be restored to native thorn scrub habitat; and
• 1,050 acres of land associated with the Dulaney Farms tract, which was protected in coordination with The Conservation Fund in 2021 to expand the Laguna Atascosa National Wildlife Refuge ocelot habitat area.

The more than 4,000 acres included in NextDecade’s mitigation plan are equivalent to five times the 761 acres of land directly impacted by the RGLNG export terminal.

Additional details about NextDecade’s environmental stewardship, safety, and community commitments, are available at next-decade.com/esg.

About NextDecade Corporation

NextDecade Corporation is an energy company accelerating the path to a net-zero future. Leading innovation in more sustainable LNG and carbon capture solutions, NextDecade is committed to providing the world access to cleaner energy. Through our wholly owned subsidiaries Rio Grande LNG and NEXT Carbon Solutions, we are developing a 27 MTPA LNG export facility in South Texas along with one of the largest carbon capture and storage (CCS) projects in North America. We are also working with third-party customers around the world to deploy our proprietary processes to lower the cost of carbon capture and storage and reduce CO₂ emissions at their industrial-scale facilities. NextDecade's common stock is listed on the Nasdaq Stock Market under the symbol "NEXT." NextDecade is headquartered in Houston, Texas. For more information, please visit www.next-decade.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of U.S. federal securities laws. The words "anticipate," "contemplate," "estimate," "expect," "project," “target,” "plan," "intend," "believe," "may," "might," "will," "would," "could," "should," "can have," "likely," "continue," "design," "assume," "budget," "guidance," and "forecast" and other words and terms of similar expressions are intended to identify forward-looking statements, and these statements may relate to the business of NextDecade and its subsidiaries. These statements have been based on assumptions and analysis made by NextDecade in light of current expectations, perceptions of historical trends, current conditions and projections about future events and trends and involve a number of known and unknown risks, which may cause actual results to differ materially from expectations expressed or implied in the forward-looking statements. These risks include NextDecade’s progress in the development of its LNG liquefaction and export projects and CCS projects and the timing of that progress; the timing of achieving a final investment decision on the Rio Grande LNG terminal (the “Terminal”); reliance on third-party contractors to successfully complete the Terminal, the pipeline to supply gas to the Terminal and any CCS projects; ability to develop NCS’ business though implementation of CCS projects; ability to secure additional debt and equity financing in the future to complete the Terminal and CCS projects on commercially acceptable terms; accuracy of estimated costs for the Terminal and CCS projects; ability to achieve operational characteristics of the Terminal and CCS projects, when completed, including liquefaction capacities and amount of CO₂ captured and stored, and any differences in such operational characteristics from expectations; development risks, operational hazards and regulatory approvals applicable to NextDecade's development, construction and operation activities and those of its third-party contractors and counterparties; technological innovation which may lessen NextDecade's anticipated competitive advantage or demand for its offerings; global demand for and price of LNG; availability of LNG vessels worldwide; changes in legislation and regulations relating to the LNG and CCS industries, including environmental laws and regulations that impose significant compliance costs and liabilities; scope of implementation of carbon pricing regimes aimed at reducing greenhouse gas emissions; global development and maturation of emissions reduction credit markets; adverse changes to existing or proposed carbon tax incentive regimes; global pandemics, including the 2019 novel coronavirus pandemic, the Russia-Ukraine conflict, other sources of volatility in the energy markets and their impact on NextDecade's business and operating results, including any disruptions in its operations or development of the Terminal and the health and safety of its employees, and on its customers, the global economy and the demand for LNG; risks related to doing business in and having counterparties in foreign countries; NextDecade’s ability to maintain the listing of our securities on the Nasdaq Capital Market or another securities exchange or quotation medium; changes adversely affecting the businesses in which NextDecade is engaged; management of growth; general economic conditions; ability to generate cash; and the result of future financing efforts and applications for customary tax incentives; and other matters discussed in the “Risk Factors” section of NextDecade’s most recent Annual Report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission. Additionally, any development of the Terminal or CCS projects remains contingent upon completing required commercial agreements, securing all financing commitments and potential tax incentives, achieving other customary conditions and making a final investment decision to proceed. The forward-looking statements in this press release speak as of the date of this release. Although NextDecade believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that the expectations will prove to be correct. NextDecade may from time to time voluntarily update its prior forward-looking statements, however, it disclaims any commitment to do so except as required by securities laws.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230329005746/en/

IR@next-decade.com

communications@next-decade.com

Source: NextDecade Corporation

FAQ

What is NextDecade Corporation's (NEXT) recent acquisition related to sustainability?

NextDecade Corporation plans to acquire 1,500 acres of the Las Lomas ecological preserve to enhance its sustainability commitments tied to the Rio Grande LNG project.

What does NextDecade's mitigation plan involve?

NextDecade's mitigation plan includes conserving over 4,000 acres, which incorporates 1,500 acres at Las Lomas, 1,531 acres at Miradores Mitigation Site, and 1,050 acres at Dulaney Farms.

When did the Brownsville Navigation District vote on NextDecade's acquisition?

The Brownsville Navigation District unanimously voted on March 15, 2023, to pass a resolution to preserve the Las Lomas area.

How does NextDecade's conservation efforts compare to its project impact?

NextDecade's conservation efforts will protect over 4,000 acres, which is five times the 761 acres directly impacted by the RGLNG export terminal.

What is the significance of NextDecade's acquisition of land for investors?

The acquisition demonstrates NextDecade's commitment to sustainability and may enhance its reputation and long-term viability, potentially appealing to environmentally conscious investors.