NextDecade stock: Rio Grande LNG targets first production in Q2 2027

Published on 11/03/2026 at 22:13 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

NextDecade stock remains tied to Rio Grande LNG execution as construction advances ahead of schedule. Management expects first gas before year-end.

Rio Grande LNG moves toward startup

NextDecade expects first gas into the facility before year-end 2026.
First LNG from Train 1 is targeted for the second quarter of 2027.
Management projects implied margins above 6 US dollars per MMBtu on uncontracted volumes.

NEXT, US65342K1051, Illustration mit AI erstellt.

NextDecade said on October 29 that work at its Rio Grande LNG facility continued safely, on budget and ahead of schedule during the third quarter. The company expects first gas into the site before the end of 2026 and first LNG production from Train 1 in the second quarter of 2027, according to its third-quarter business update.

NextDecade stock traded at 6.00 euros on Lang & Schwarz at 22:09 CET on Tuesday, November 3, 2026. The real-time quote of NextDecade stock reflects the European trading venue and is not presented as a comparison with a Xetra close.

Construction milestones support timeline

The company reported that Trains 1 and 2 were 79.7% complete as of September 2026, with commissioning at 68.8%. Train 3 was 55.2% complete, while construction and commissioning work also progressed on Trains 4 and 5.

Management expects substantial completion of Train 1 in the third quarter of 2027, one quarter ahead of the guaranteed completion schedule under its engineering, procurement and construction contract with Bechtel. The Bay Runner pipeline entered service during the third quarter, and the gas inlet facilities reached readiness for startup.

Higher implied margins remain conditional

Based on forward LNG and US natural gas prices, NextDecade projects volume-weighted average implied margins above 6 US dollars per MMBtu for uncontracted volumes during the ramp-up period. The company said that estimate is more than 1 US dollar above its base case guidance.

The outlook remains dependent on construction, commissioning, permitting, financing and the eventual start of commercial operations. NextDecade is also advancing Train 6, for which it received authorization from the US Army Corps of Engineers in September, while FERC's final environmental impact statement is expected in June 2027.

NextDecade stock is part of the US equity market, where the S&P 500 market environment provides the broader backdrop.

More news and analyses on NextDecade stock.