France just signed a 15-year deal with Houston’s NextDecade $NEXT for natural gas supplies, circumventing reliance on Russian natural gas.
Financial Times headline: French utility Engie buys US natural gas as Europe looks beyond Russia
Subheadline: Deal with Texas-based NextDecade comes after export company pursued lower emissions
France’s state-backed utility Engie has signed up for natural gas from Texas in the first US contract with a European buyer since Washington pledged to help the continent break its reliance on Russian gas.
The 15-year deal with Houston-based NextDecade is a reversal for Engie. The utility suspended earlier talks with the exporter in November 2020 after the French government, a 24 per cent shareholder, had raised environmental concerns about the deal, people familiar with the matter said at the time.
Engie has now committed to buy the equivalent of 2.4bn cubic metres a year of gas from NextDecade’s proposed Rio Grande LNG export plant on the coast of southern Texas. If the project receives final approval, the plant’s first unit could start commercial operations as soon as 2026, NextDecade said (opens a new window)on Monday.
Twitter link for a look at charts for $NEXT and $NATGAS
https://twitter.com/peregreine/status/1521371824197677056
1) $NEXT has big news: They just signed a 15-year $NATGAS contract with France, and here are the daily, weekly, and monthly charts with earnings (still unconfirmed) scheduled for 18 MAY 22