Why NextDecade Stock Is Soaring Today

Shares of NextDecade (NASDAQ: NEXT) surged more than 13% by 10:30 a.m. ET on Thursday. Fueling the rally in the liquefied natural gas (LNG) development company was an agreement to supply LNG to China's Guangdong Energy Group.

NextDecade signed a binding Heads of Agreement with Guangdong Energy to supply it with LNG for 20 years from its proposed Rio Grande LNG export project in Texas. The agreement would see Guangdong Energy purchase up to 1.5 million metric tons of LNG per year from train one of its Rio Grande LNG terminal, which would start operations in 2026. The companies plan to sign a sale and purchase agreement in the second quarter. 

Image source: Getty Images.

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Source Fool.com