Houston LNG co. to sell South Texas pipeline project to Enbridge

Houston-based NextDecade Corp. (Nasdaq: NEXT) has reached a deal to sell its Rio Bravo Pipeline Company LLC to Canada-based midstream giant Enbridge Inc. (NYSE: ENB) for up to $25 million in cash.

The proposed Rio Bravo Pipeline would transport 4.5 billion cubic feet per day of natural gas from the Agua Dulce area to NextDecade’s proposed Rio Grande LNG export facility in Brownsville, Texas. In September 2019, the companies announced a memorandum of understanding to jointly pursue the development…

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