It took over a decade, but NextDecade’s longshot bet to lead LNG in Texas is finally paying off
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Near the U.S.-Mexico border—a few miles from SpaceX Starbase—little-known NextDecade is on the verge of becoming the top exporter of natural gas out of Texas.
Key facts
The U.S. Energy Department projects total natural gas exports will grow 30% from early 2026 through the end of 2027
Founded in 2010, NextDecade is finally bringing Rio Grande LNG online—slated to begin production early next year and continue expanding through 2036, adding roughly one new liquefaction unit, called
Brought on in 2017 to lead operations, Schatzman took the CEO role in 2018 as Eisbrenner stepped back into the chairwoman position
NextDecade still faced years of delays—a global pandemic, struggles seeking long-term contracts, permitting battles, and environmental lawsuits—adding an ironic wrinkle to the company’s name
Summary
The war in Iran and the disruption of flows from Qatar have placed renewed global focus on liquefied natural gas (LNG), which must be chilled into liquid form for overseas tanker transport. Most U.S. LNG capacity is concentrated along a corridor stretching from Corpus Christi, Texas to south of New Orleans. “The geopolitical volatility that we’re now seeing has made people aware of the fragility of our global energy system, and it’s more vulnerable than people thought,” NextDecade CEO Matt Schatzman told Fortune. Founded in 2010, NextDecade is finally bringing Rio Grande LNG online—slated to begin production early next year and continue expanding through 2036, adding roughly one new liquefaction unit, called a train, per year.