THE WOODLANDS, Texas, USA (June 18, 2018) — NextDecade Corporation (“NextDecade” or the “Company”) (NASDAQ: NEXT) announced today that Dr. Ping Lee has joined the Company as Senior Vice President, LNG Marketing – China and Southeast Asia. NextDecade announced earlier this year that it had opened offices in Singapore and Beijing to serve customers throughout Asia.
“The appointment of Ping marks another strong addition to our marketing capabilities to serve the world’s largest and fastest growing LNG markets,” said Matt Schatzman, NextDecade President & Chief Executive Officer. “His longstanding experience in key markets, especially China, will prove invaluable as we progress to a successful Final Investment Decision on our Rio Grande LNG project.”
Lee is the former President and Asset General Manager of BG Group, China, a position he held until 2016. In that role, Lee was instrumental in building BG Group’s commercial and E&P interests; before its acquisition by Shell, BG Group had become China’s largest LNG supplier. Prior to his time with BG Group, Lee held positions of increasing management responsibilities with Schlumberger, ultimately serving as Area President of Schlumberger from 2007 until 2011. He began his career with Schlumberger as a Research Scientist in 1990 in Austin, Texas.
“I am honored to join the NextDecade team,” said Lee, who is based in, and will lead, NextDecade’s Beijing representative office. “I believe the significant competitive advantages of the Rio Grande LNG project, including its market-leading EPC costs and its proximity to abundant natural gas reserves in the Permian Basin, are extremely compelling to prospective customers in China and throughout Asia.”
Lee holds masters and doctorate degrees in Computer Science and Mathematics, respectively, from Cornell University. He completed his undergraduate studies at the State University of New York in Buffalo. Lee serves on the Board of Directors of Cornerstone Bank in Atlanta, Georgia.
About NextDecade Corporation
NextDecade is an LNG development company focused on LNG export projects and associated pipelines in Texas. NextDecade intends to develop a portfolio of LNG projects, including the 27 mtpa Rio Grande LNG export facility in Brownsville, Texas and the 4.5 Bcf/d Rio Bravo Pipeline that would transport natural gas from the Agua Dulce area to Rio Grande LNG. NextDecade’s common stock is listed on the Nasdaq Capital Market under the symbol “NEXT.” NextDecade is headquartered in The Woodlands, Texas. www.next-decade.com
Located at the Port of Brownsville in South Texas, NextDecade’s Rio Grande LNG project is expected to be a leader among second wave U.S. LNG projects. NextDecade’s customers and shareholders will benefit from the project’s low cost, lower risk, and optimal location. The use of proven technology will foster operational reliability and afford NextDecade’s customers access to reliable, low-cost, abundant natural gas from the Permian Basin, Eagle Ford Shale, and other basins.
CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of U.S. federal securities laws. The words “believe”, “expect”, “intend”, “plan”, “potential”, and similar expressions are intended to identify forward-looking statements, and these statements may relate to the business of the Company and its subsidiaries. These statements have been based on the Company’s current assumptions, expectations, and projections about future events and involve a number of known and unknown risks, which may cause actual results to differ materially from expectations expressed or implied in the forward-looking statements. These risks include uncertainties about the Company’s Rio Grande LNG and Rio Bravo pipeline projects and other matters discussed in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 and other subsequent reports filed with the Securities and Exchange Commission, all of which are incorporated herein by reference. Any development of the projects remain contingent upon completing required commercial agreements; acquiring all necessary permits and approvals; securing all financing commitments and potential tax incentives; achieving other customary conditions; and making a final investment decision to proceed. The forward-looking statements in this press release speak as of the date of this release. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, the Company can give no assurance that the expectations will prove to be correct. The Company may from time to time voluntarily update its prior forward-looking statements, however, it disclaims any commitment to do so except as required by securities laws.