NextDecade Corporation (NASDAQ:NEXT) shares surged about 11% to $5.97 in premarket trading on Monday after the liquefied natural gas developer provided an update on its expected production timeline and future expansion plans.
Chief Executive Officer Matt Schatzman said the company is targeting first LNG output from Train 1 at its Rio Grande LNG project during the first half of 2027. NextDecade also plans to submit a full regulatory application for Train 6 by mid-2026, while continuing development work on additional units, including Trains 7 and 8, over the course of the year.
According to the company, the Rio Grande LNG facility has capacity to support as many as 10 liquefaction trains, highlighting significant long-term growth potential at the site.
Meanwhile, U.S. natural gas futures moved higher Monday, rising 6.4% to $3.03 per million British thermal units.