NextDecade corp. (NEXT) stock prices were up by an incremental 0.51% as of the market closing on May 14th, 2021, bringing the price per share up to USD$1.98 at the end of the trading day.
Collaboration with Canary Project
The company announced earlier in April 2021 that it had formed a joint pilot program with Project Canary. The collaborative effort will see the monitoring, reporting, and measure, and certification by independent third parties of GHG intensity of LNG. The scope of the project will be limited to the greenhouse gas emissions from liquefied natural gas sold from NEXT’s Rio Grande LNG export facility in the Port of Brownsville, TX.
Pioneering a Greener LNG Sector
Project Canary delivers independent, trusted, and continuous emissions monitoring data and technologies that facilitate the assessment of environmental performance across energy value chains. The joint project will be the first in the global LNG sector, with Project Canary deploying its TrustWell certification process to confirm environmental targets for the company, from the wellhead to the ship at Rio Grande LNG.
Each element of the natural gas value chain will be assessed based on the achievement of low emissions targets from NEXT company practices, as well as their utilization of the highest standards of environmental performance and social responsibility. The partnership will facilitate the development of a responsibly sourced supply chain of natural gas from production leaders in the Eagle Ford Shale and the Permian Basin, as well as independent third-party certifications of the GHG intensity of LNG.
Scope of Joint Program
The third-party measurement and certification platform will provide NEXT customers with transparency and confidence, given their demand for increasingly lower GHG-intensive LNG. The company defies the myth that environmentally friendly practices are synonymous with higher costs by providing reliable and competitively priced LNG while pioneering eco-friendly practices in the LNG sector.
March 2021 saw the company announce that its wholly-owned subsidiary, NEXT Carbon Solutions, was developing one of the largest CCS projects in North America at Rio Grande LNG. This project is expected to enable the capture and permanent geologic storage of a surplus of 5 million tons of carbon dioxide a year. In conjunction with their responsibly sourced gas, this reduction in emissions will enable Rio Grande LNG to produce the lowest lifecycle GHG LSG on a free-board basis and will make it the world’s greenest LNG project.
Future Outlook for NEXT
With the world increasingly leaning towards environmentally friendly economic practices, NEXT is at the forefront of providing energy that meets this changing demand. The combination of responsibly sourced gas and reduced emissions from its production and distribution is likely to result in further growth as the company continues to set itself apart from is competitors. Current and potential investors are hopeful that the company can leverage the resources at its disposal to usher in an era of significant and sustained increases in shareholder value.