PORT OF CORK HOSTS SUCCESSFUL VISIT BY NEXTDECADE

PORT OF CORK HOSTS SUCCESSFUL VISIT BY NEXTDECADE

Wednesday 02 August 2017

PORT OF CORK HOSTS SUCCESSFUL VISIT BY NEXTDECADE

The Port of Cork Company today welcomed a delegation from NextDecade Corporation (NASDAQ: NEXT), a U.S.-based Liquefied Natural Gas (LNG) development company to Cork, Ireland. The visit by NextDecade marks the recent Memorandum of Understanding (MOU) signed by the two companies to explore a joint development opportunity for a new Floating Storage Regasification Unit (FSRU) and associated LNG import terminal infrastructure in Ireland.

The FSRU development would be supplied with LNG sourced from NextDecade’s proposed Rio Grande LNG export facility at the Port of Brownsville in South Texas, providing a source of competitively-priced energy to Ireland and its partners.

Speaking at the media briefing today, Port of Cork Chairman John Mullins said: “NextDecade, led by LNG industry icon, Kathleen Eisbrenner and her executive team, has extensive experience developing global LNG projects, including the world’s first FSRU. NextDecade is a publicly-traded company and the executive team has strong track record of success. As an entry point into the Irish energy market, Port of Cork is an attractive location for an FSRU-based LNG import terminal. Surrounded by existing marine infrastructure and industrial facilities, the proposed site is less than 2 km from Gas Networks Ireland Grid and would benefit from relatively benign metocean conditions.

He continued: “This project will be designed to support incremental opportunities such as small scale LNG distribution and bunkering for LNG fuelled vessels. We have had very positive meetings this morning with key industry players, all of whom are supportive of this project. Of course together with NextDecade there is a lot of ground work to complete and we look forward to widening our consultation on this project in the future.”

Following a visit by NextDecade in early May, one area within the harbour was focused on: the west of Whitegate Jetty and inside Dognose for this development and according to Shaun Davison, Senior Vice President – Development & Regulatory Affairs of NextDecade: “NextDecade feels the future is in the development and construction of FSRU projects in support of LNG sales.”

ENDS

About NextDecade Corporation

Based in The Woodlands, Texas, NextDecade is a developer of LNG projects providing customers access to the full LNG value chain. NextDecade comprises a team of industry leaders with extensive experience in signing major LNG off-take deals, and developing and managing LNG, FLNG, and FSRU projects, as well as associated natural gas and electricity infrastructure around the world. For more information, please visit www.next-decade.com.

For further information, please contact:

Sara Mackeown

Port of Cork

021 4625375 / 086 1044011

smackeown@portofcork.ie