NextDecade today issued a Market Fundamentals Update and Webcast, focused on the global LNG and Texas oil and gas markets.
Over the course of the last several months, the NextDecade team has conducted extensive analysis of the global LNG and the Texas oil and gas markets. This work has involved data analysis from an array of resources and interaction with a wide range of commercial counterparts.
Our analysis confirms that, in any COVID-19 recovery scenario, Texas will require incremental LNG export capacity to support projected natural gas production growth. More specifically, we estimate the Texas Gulf Coast may need up to 73 mtpa of incremental LNG export capacity – equivalent to 9.6 Bcf/d – by 2030.
The long-term fundamentals of NextDecade’s Rio Grande LNG project remain firmly intact, and development of the project remains critically important to the future of the global LNG and Texas oil and gas markets.
Global markets have endured unprecedented conditions in recent months. While the onset of the COVID-19 pandemic has affected market conditions, there are several things that have not changed:
At NextDecade, we are pleased to have a solid foundation and optimal positioning to deliver the largest LNG export solution linking Permian Basin and Eagle Ford Shale natural gas to the global LNG market.