US LNG export project developer, NextDecade intends to join the Russell 2000 and Russel 3000 indices as part of the 2018 Russell indices reconstitution, taking effect on June 22, 2018.
Russell indices are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies, NextDecade said in its statement. Indices are part of FTSE Russell index provider.
“NextDecade believes that the U.S. is poised to emerge as the largest supplier of reliable, clean-burning LNG to global markets,” said Matt Schatzman, NextDecade president & CEO.
“Reconstitution of the Russell 2000 and Russell 3000 indices brings another unique opportunity for a growing investor base to participate in the anticipated value associated with our Rio Grande LNG project, including our proximity to abundant associated gas from the Permian Basin and Eagle Ford Shale,” he said.
Rio Grande LNG is a proposed 27 mtpa LNG export facility to be located on a 984-acre site on the Brownsville Ship Channel in South Texas and will be constructed in phases.
The approximately 137-mile proposed Rio Bravo Pipeline will supply the facility with its feedgas, connecting it to the Agua Dulce natural gas supply area.
Rio Grande LNG is currently in the advanced stages of the U.S. Federal Energy Regulatory Commission (FERC) review and permitting process, according to NextDecade.