NextDecade Appoints Erik Ludtke as Chief Commercial Officer
October 23 2018 - 08:00AM
Business Wire
NextDecade Corporation (“NextDecade”) (NASDAQ: NEXT) announced
today that it has appointed Erik Ludtke as Chief Commercial Officer
effective November 1, 2018. In this role, Mr. Ludtke will be
responsible for developing and managing the natural gas supply
portfolio, the midstream assets, and the commercial operations
required to provide NextDecade’s customers with reliable liquefied
natural gas (“LNG”) from NextDecade’s Rio Grande LNG and Galveston
Bay LNG projects. Mr. Ludtke will report to Matt Schatzman,
NextDecade’s President and Chief Executive Officer.
“Erik brings considerable expertise and a proven track record to
our management team and will further strengthen NextDecade’s
ability to deliver creative solutions to our LNG customers and
natural gas suppliers,” said Mr. Schatzman. “He joins us at an
exciting time as we build momentum at our Rio Grande LNG project,
supported by our optimal gas supply location in South Texas, our
competitive EPC process, the recent issuance of our draft
environmental impact statement by FERC, and commercial progress
with LNG customers.”
“I am thrilled to join the talented and experienced NextDecade
team and believe the company has excellent prospects for success,”
said Mr. Ludtke. “I look forward to helping NextDecade leverage the
significant competitive advantages of its Rio Grande LNG project,
including proximity to the Permian Basin and Eagle Ford Shale,
which affords LNG customers access to abundant natural gas
resources and offers producers a valuable outlet to global LNG
markets.”
Mr. Ludtke has nearly 25 years of experience in the energy
industry. Prior to joining NextDecade, Mr. Ludtke led commercial
and business development activities at NorthStar Midstream, a
portfolio company of Oaktree Capital. From 2006 until 2011, Mr.
Ludtke led Apache Corporation’s oil and gas marketing and trading
group in the U.S. and Latin America. Prior to 2006, Mr. Ludtke
spent six years with Duke Energy, including three years as
President of the company’s South America (Southern Cone) business
unit, and he worked at BG Group where he managed projects and
regional business units, including assignments and leadership roles
in Argentina, India, Israel, and the United Kingdom. Mr. Ludtke
holds an economics degree from Texas A&M University and
completed executive development course work at The Wharton School
of the University of Pennsylvania.
About NextDecade Corporation
NextDecade is an LNG development company primarily 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 the Rio Grande LNG export facility.
NextDecade’s common stock is listed on the Nasdaq Stock Market
under the symbol “NEXT.” NextDecade is headquartered in
Houston.
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 believes its customers and
stockholders will benefit from the project’s experienced
leadership, proven approach, and optimal location. NextDecade’s
technology selections are expected to foster operational
reliability and afford NextDecade’s customers access to 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 NextDecade’s business and its
subsidiaries. These statements have been based on NextDecade’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 NextDecade’s Rio Grande LNG and Rio
Bravo Pipeline projects and other matters discussed in the “Risk
Factors” section of NextDecade’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 NextDecade believes that the expectations
reflected in these forward-looking statements are reasonable,
NextDecade can give no assurance that the expectations will prove
to be correct. NextDecade 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20181023005302/en/
NextDecade CorporationInvestors:Patrick Hughes, +
1 (832) 209 8131phughes@next-decade.comorMedia:Ashley
Helmer, + 1 (281) 249 5453ahelmer@next-decade.com
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