TotalEnergies has signed agreements with NextDecade to take a 10% stake in the joint venture developing Train 4 of Rio Grande LNG (RGLNG), a liquefied natural gas plant project located in South Texas. In addition to the 10% held directly, TotalEnergies will hold indirectly next to 7% in this Train 4 as a 17.1% shareholder of NextDecade. TotalEnergies, NextDecade (40%), and their partners Global Infrastructure Partners (GIP, 36.9%), GIC (7.9%), and Mubadala (5.2%) made the Final Investment Decision (FID) for the development of Train 4.

This fourth train has a capacity of approximately 6 million tons per annum (Mtpa) and will bring the plant's total capacity to approximately 24 Mtpa when it comes online in 2030.

Project Financing and Investment Structure

The project's overall cost will be financed with approximately 40% equity and 60% debt. TotalEnergies previously signed a Sales and Purchase Agreement (SPA) with NextDecade to offtake 1.5 Mtpa of liquefied natural gas for 20 years from the future Train 4. The company currently holds a 16.7% interest in Phase 1 of Rio Grande LNG and will offtake 5.4 million tonnes per annum (Mtpa).

Phase 1 includes three liquefaction trains under construction in South Texas and is expected to start operations in 2027. TotalEnergies also holds a 17.1% stake in NextDecade, the shareholder and operator of Rio Grande LNG.

Executive Statements on Strategic Impact

“We are very pleased with the FID of RGLNG Train 4. This project, from which we will offtake 1.5 Mtpa, strengthens our LNG export capacity from the United States,” said Stéphane Michel, President of Gas, Renewables & Power at TotalEnergies. “It gives TotalEnergies access to competitive LNG thanks to its low production costs. The LNG from this fourth train will increase TotalEnergies' U.S. LNG export capacity to over 16 Mtpa by 2030, further enhancing our ability to contribute to gas supply and building on our 10% market share worldwide.”

Matt Schatzman, NextDecade Chairman and Chief Executive Officer, stated: “We are pleased to have TotalEnergies, our largest LNG customer and equity partner for Phase 1 of Rio Grande LNG, extend their commitment to our project through Train 4. LNG exported by TotalEnergies from our project will provide affordable, reliable, and secure energy to customers around the world.”

TotalEnergies' Global LNG Position

TotalEnergies is the world's third-largest LNG player, with a global portfolio of 40 million tonnes per year (Mt/y) in 2024, thanks to its interests in liquefaction plants across all geographies. The company benefits from an integrated position across the LNG value chain, including production, transportation, access to more than 20 Mt/y of regasification capacity in Europe, trading, and LNG bunkering.

TotalEnergies' ambition is to increase the share of natural gas in its sales mix to close to 50% by 2030, to reduce carbon emissions and eliminate methane emissions associated with the gas value chain, and to work with local partners to promote the transition from coal to natural gas.

Company Overview

TotalEnergies is a global integrated energy company that produces and markets a range of energy sources, including oil and biofuels, natural gas, biogas, low-carbon hydrogen, renewables, and electricity. The company's more than 100,000 employees are committed to providing as many people as possible with energy that is more reliable, more affordable, and more sustainable.

Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects, and its operations. The announcement was made on September 10, 2025, from Paris, marking a significant expansion of TotalEnergies' presence in the U.S. LNG export market through its continued partnership with NextDecade on the Rio Grande LNG project.

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