NextDecade Names CEO As New Chair
US LNG developer Next Decade said June 5 its board had named CEO Matthew Schatzman to also serve as the company’s chair in the wake of the passing of founder and former chair Kathleen Eisbrenner on May 10.
Matthew Bonanno, who served as interim chair immediately following Eisbrenner’s death, was named lead independent director. Both appointments are effective from June 4.
“The Board has the highest confidence in Matt, who has been instrumental in advancing the strategic direction of the business since joining NextDecade almost two years ago,” Bonanno said. “We believe Matt is ideally suited to deliver our Rio Grande LNG project and to maximize the value of our business for all stakeholders.”
NextDecade is developing the 27mn mt/yr Rio Grande LNG terminal in Brownsville, Texas and the companion 4.5bn ft3/day Rio Bravo pipeline system to deliver natural gas from the Agua Dulce trading hub to Rio Grande LNG. Rio Bravo consists of twin pipelines, each rated at 2.25bn ft3/day and each of which will deliver gas to three of Rio Grande LNG’s six liquefaction trains.
A final investment decision on both projects is expected in 3Q 2019, with commercial operations planned for 2023.