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NextDecade (NEXT) investor relations material

NextDecade Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary1 Aug, 2025

Executive summary

  • Executed a fixed price turnkey EPC agreement for Train 5 of the Rio Grande LNG Facility between Rio Grande LNG Train 5, LLC and Bechtel Energy Inc., dated June 12, 2025.

  • The agreement covers engineering, procurement, construction, pre-commissioning, commissioning, start-up, and testing of Train 5 and associated facilities.

  • The contract price is $4,319,981,000, subject to adjustment only by Change Order as provided in the agreement.

  • Commercialization of Train 4 completed with 20-year SPAs signed with Aramco and TotalEnergies; JERA signed as first long-term offtake for Train 5.

  • EPC contracts for Trains 4 and 5 finalized with Bechtel, with pricing valid through September 15, 2025.

Scope of work

  • Contractor is responsible for all engineering, procurement, construction, pre-commissioning, commissioning, start-up, and testing of Train 5, including all equipment, construction equipment, spare parts, labor, and training of Owner's personnel.

  • Contractor must integrate Owner's personnel into pre-commissioning, commissioning, testing, and start-up efforts.

  • The work includes all incidental work required to complete Train 5 in accordance with good engineering and construction practices, applicable law, and codes.

Key contractual terms

  • The contract price is separated into Aggregate Equipment Price and Aggregate Labor and Skills Price for tax purposes.

  • Interim payments are based on percent completion (Earned Value) and completion of payment milestones.

  • Change Orders are the exclusive mechanism for adjusting contract price, key dates, or scope.

  • Owner may issue Limited Notices to Proceed (LNTP) before full Notice to Proceed (NTP); NTP is subject to specific conditions precedent, including financing and permits.

  • Delay Liquidated Damages and Performance Liquidated Damages are specified, with aggregate caps on contractor liability.

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Frequently asked questions

NextDecade Corporation focuses on the development of liquefied natural gas (LNG) export projects. The company's primary initiatives include the Rio Grande LNG project in South Texas, which aims to supply LNG to global markets. NextDecade Corporation leverages its expertise in project management and engineering to advance LNG infrastructure, promoting the use of cleaner energy alternatives. The company also emphasizes the integration of innovative technologies to enhance operational efficiency and environmental sustainability in its projects. The company is headquartered in Houston, Texas, and its shares are listed on the NASDAQ.

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