In an auspicious start of the new year, Houston-based NextDecade Corp. announced in January its first long-term deal with a Japanese company, a 15-year sale and purchase agreement with general trading company Itochu Corp.
Chairman and CEO Matt Schatzman said this is a milestone for the company and is excited to begin supplying Itochu and its customers with LNG from its planned liquefied natural gas terminal in Texas.
This is the second supply agreement that NextDecade signed with an Asian client in less than a month. Last December, Singapore's ENN LNG revised its previous agreement with NextDecade to increase deliveries by 33%.
Under its 15-year agreement with one of the world’s largest sogo shosha, NextDecade will provide Itochu Corp. with 48.7 billion cubic feet of LNG every year.
To date, the United States is the world’s second-biggest exporter of LNG with 10.6 billion cubic feet per day (bcfd). According to data from Statista, around half of U.S. LNG exports come from the state of Texas.