U.S. Appeals Court Vacates FERC Authorization for Rio Grande LNG

A U.S. appeals court has vacated the remand authorization of NextDecade Corporation’s Rio Grande LNG export project issued by the Federal Energy Regulatory Commission on the ground that the FERC should have issued a supplemental Environmental Impact Statement (EIS) during its remand process. NextDecade (NASDAQ: NEXT), whose Rio Grande LNG project is already under construction in Texas, saw its shares plummet on the NASDAQ after the court’s decision and closed down 17.87% on Tuesday. The company said in a statement that it “is…