Wedoany.com Report-Mar 19, Energy company NextDecade (NEXT.O), said on Tuesday that the U.S. Court of Appeals for the District of Columbia had revised its August 2024 judgment against the energy regulator's order allowing the construction of the company's LNG project in Texas.
Signage is seen at the entrance of the United States Court of Appeals for the District of Columbia Circuit in Washington, D.C., U.S., August 30, 2020.
NextDecade's flagship facility has been in development for several years and has already suffered repeated delays.
The revised court decision sends the Federal Energy Regulatory Commission's order regarding the first five liquefaction trains at the Rio Grande LNG facility back for further review, while the order itself remains in place.
"We are pleased with today's revised court judgment, which ensures construction at the Rio Grande LNG facility will not be impacted by the court," said chief executive officer Matt Schatzman.
The court ruled last year to overturn the FERC's approval for the initial phase of the company's $18.4 billion Rio Grande LNG project. It ordered the regulator to reconsider the project's impact, which could require a new environmental impact statement and a public comment period.
The first phase of the project, with a capacity of 17.61 million tons per annum of liquid gas, was scheduled to be completed by early 2029 at an estimated cost of $18 billion.
