MAKING PROGRESS

Latest collaborative agreement brings Texas LNG export facility one step closer to reality

NextDecade enters a deal with two major investors to move toward final investment decision for the Rio Grande LNG Project. Image via Shutterstock.

The Rio Grande LNG Project (RGLNG), an LNG export facility in Cameron County, Texas with planned capacity for exporting up to 27 million tons of LNG per year, makes a giant leap toward the final investment decision stage with the latest agreements signed by NextDecade Energy announced earlier today.

Entry to this next phase includes executing investor agreements with Global Infrastructure Partners (GIP) and TotalEnergies (TTE). In addition, TTE commits to purchasing 5.4 million tons of LNG annually for the next 20 years from the first three trains (RGLNG Phase 1) that will transport to the facility, with additional options to purchase from subsequent trains.

“This announcement marks a momentous milestone for NextDecade,” said Matt Schatzman, chairman and CEO of NextDecade, in the release. “We are excited to work with GIP and TotalEnergies on RGLNG and our proposed CCS project at RGLNG. We are also eager to grow our partnership with GIP and TotalEnergies focusing on our shared vision to reduce carbon emissions in the energy sector.”

“With the world increasingly moving toward sustainable solutions, this partnership among GIP, TotalEnergies and NextDecade reinforces our shared commitment to helping lead the transition and shaping of the future of energy,” added Bayo Ogunlesi, chairman and Chief Executive Officer of Global Infrastructure Partners. “This venture marks a critical step in displacing coal usage and upholds GIP’s commitment to promoting decarbonization, energy security and energy affordability. Our shared vision with TotalEnergies and NextDecade, combined with our capabilities, will undoubtedly help catalyze the development of cleaner energy.”

"We are delighted to join forces with NextDecade and GIP on the development of this new US LNG project, for which TotalEnergies shall leverage its extensive experience in LNG and technical expertise in major industrial project development," commented Patrick Pouyanné, chairman and CEO of TotalEnergies. “Our involvement in this project will enhance our LNG capacity by 5.4 MTPA strengthening our ability to ensure Europe's gas supply security and to provide Asian customers with an alternative fuel that emits half as much as coal.”

Pending execution of the FID and definitive documentation, GIP becomes the majority investor in Phase 1 of the RGLNG, and TTE will acquire another 16.67%. Both companies will also have options to invest in Trains 4 and 5 servicing the South Texas LNG export facility and options to invest in future carbon capture and sequestration (CCS) efforts planned for RGNLG.

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A View From HETI

Oxy CEO Vicki Hollub (center) is the first woman to win WPC Energy's Dewhurst Award. Photo via 1pointfive.com

Vicki Hollub, president and CEO of Houston-based Occidental (Oxy), has become the first woman to win WPC Energy’s prestigious Dewhurst Award.

Hollub is the thirteenth recipient of the award, which is considered the highest honor from WPC Energy, a global, non-advocacy, non-political nonprofit organization that promotes the sustainable management of energy and energy products. She is just the fourth U.S. winner since the award launched in 1991. Other U.S. winners include former ExxonMobil CEO Rex Tillerson; Daniel Yergin, vice chairman of S&P Global and chairman of CERAWeek; and former chairman and CEO of Chevron Kenneth Derr.

According to WPC Energy, the Dewhurst Award is given to “exceptional individuals whose leadership and contributions have had a lasting impact on the global energy industry.” It is named after Thomas Dewhurst, who organised the first WPC Energy Congress, formerly the World Petroleum Congress, in 1933.

Oxy works to advance low-carbon technologies, reduce emissions and is leading a number of energy transition projects. Its Oxy Innovation Center is housed in Houston’s The Ion.

Hollub has held a variety of roles in her 40-year career with Occidental, including chief operating officer and senior executive vice president. She also led strategic acquisitions for Occidental of Anadarko Petroleum in 2019 and CrownRock in 2024, and serves on the boards of Lockheed Martin and the American Petroleum Institute. She is one of the first women to lead a major U.S. oil and gas company.

“Vicki Hollub’s visionary leadership and unwavering dedication to innovation and sustainability have set a benchmark for excellence in our industry,” Pedro Miras, WPC Energy President, said in a news release. “She embodies the spirit of the Dewhurst Award—forward-looking, courageous and deeply committed to advancing the global energy dialogue. Her contributions continue to inspire the next generation of energy leaders.”

Hollub will receive the award in April 2026 in Riyadh, Saudi Arabia at the 25th WPC Energy Congress, where she will also present the Dewhurst Lecture.

“I am honored to be selected for the Dewhurst Award and appreciate WPC Energy recognizing our company’s achievements,” Hollub added in the release. “The Dewhurst Award reflects the collective efforts of the talented and dedicated team at Oxy, whose commitment to innovation, operational and technical excellence, and sustainability drives our success.”

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