Enbridge to acquire Rio Bravo Pipeline Company from NextDecade for $25m.

Enbridge, a Canadian multinational energy transportation company, agreed to acquire Rio Bravo Pipeline Company from NextDecade, a LNG development company focused on LNG export projects and associated pipelines in Texas, for $25m. The Rio Bravo Pipeline is designed to transport up to 4.5bn cubic feet per day of natural gas from the Agua Dulce supply area to NextDecade's Rio Grande LNG project in Brownsville, Texas. "This agreement with Enbridge further enhances our commitment to our global LNG customers, natural gas suppliers and other stakeholders to deliver our Rio Grande LNG project on time and on budget. As one of North America's leading energy infrastructure companies, Enbridge brings extensive natural gas pipeline experience to execute the Rio Bravo Pipeline, and we are delighted to have them involved in supporting the delivery of our Rio Grande LNG project," Matt Schatzman, NextDecade Chairman and CEO.