NextDecade(NASDAQ) NEXT

NextDecade builds plants that turn natural gas into liquid. This process makes it easier to ship fuel across oceans. They also work on trapping carbon emissions for underground storage.

Making Gas Ready for Travel

• LNG Export Facilities: Construction of five processing units designed to turn natural gas into liquid for international markets.
• Carbon Capture Systems: Development of technology to catch and store carbon emissions from the facility and industrial neighbors.
• Fuel Logistics: Management of specialized shipping capacity to transport liquid gas across the ocean to global customers.

Building an Export Hub

• Partnered with Bechtel Energy to start construction on a fourth processing unit in September 2025.
• Expanded the project footprint by starting work on a fifth unit in October 2025.
• Signed long-term sales contracts with TotalEnergies and other global buyers for future fuel delivery.
• Initiated the regulatory pre-filing process for a sixth processing unit in November 2025.

Strategic Advantages in Texas

The Brownsville site offers easy access to gas reserves and an uncongested shipping channel. This location also faces fewer severe weather risks than other Gulf Coast facilities.

Measuring Progress in Dollars

• Net loss reached $136.4 million in Q1 2026, worsening by 53.6% from the previous year.
• Operating cash flow hit negative $110.8 million in Q1 2026, deepening 61% year-over-year.
• Free cash flow reached negative $1.3 billion in Q1 2026 due to heavy construction spending.
• Total debt grew to $9.7 billion as of March 31, 2026, to fund ongoing project costs.

Bottom Line

NextDecade is transitioning from a development firm into a major global infrastructure operator. Its massive investment in Texas and carbon capture aligns with the global shift toward liquid gas exports.