“We are pleased to be working with Bechtel, who is responsible for building approximately 30 percent of the world`s LNG capacity,” said Matt Schatzman, President and CEO of NextDecade. “Bechtel`s extensive experience in developing LNG projects on the U.S. Gulf Coast, as well as our choice of advantageous location and technology, including air Products C3MR and Baker Hughes GE rotating equipment, will allow NextDecade – only in the first three trains – to achieve the lowest cost per tonne for the U.S. Gulf Coast LNG project, as part of a fully packaged, turnkey EPC Epc project. Very large projects can be divided into phases in which a fixed price (lump sum) is agreed at the beginning of each phase. This reduces the overall project risk taken by the contractor at the beginning of the project and increases the flexibility of the proponent to adapt the project to changing circumstances. Turnkey package (LSTK) is a combination of business and turnkey contract packages. Lump sum is a noun that means a full payment consisting of a single sum of money, while turnkey is an adjective of a product or service, meaning that the product or service is ready for use upon delivery. “We are honored to be selected by NextDecade to provide their facility with our fully integrated engineering, purchasing and direct lease model,” said Alasdair Cathcart, President of Oil, Gas and Chemicals at Bechtel. “Bechtel has a very proud history of successful development of turnkey LNG projects around the world, having delivered 14 large LNG trains in the last four years.” HOUSTON–(BUSINESS WIRE) -NextDecade Corporation (NextDecade) (NASDAQ: NEXT) today announced that it has signed two contracts with Bechtel Oil, Gas and Chemicals (Bechtel) for the engineering, acquisition and construction (EPC) of NextDecade`s Rio Grande LNG project in Brownsville, Texas. Fully packaged turnkey package contracts (LSTK) contain cost, appointment and performance guarantees.
In the construction industry, LSTK combines two concepts. The LS (lump sum) part concerns the payment of a fixed amount for delivery under z.B of an EPC contract. The financial risk lies with the contractor. TK (turn key) indicates that the workload includes commissioning the facility at the operational level. Ultimately, the magnitude of the work will define exactly what is needed.  In addition, any development of the projects remains subject to the conclusion of the necessary trade agreements. obtain all necessary authorizations and authorizations; secure all funding pledges and potential tax incentives; obtaining other normal conditions; and make a final investment decision to continue. The forward-looking statements contained in this press release indicate the date of this press release. Although NextDecade believes that the expectations expressed in these forward-looking statements are up to the task, it cannot be guaranteed that the expectations will prove to be accurate. NextDecade may, from time to time, voluntarily update its prior forward-looking statements, but discrances any obligation to do so, except as required by securities law. .