Aug 20 (Reuters) - Liquefied natural gas firm NextDecade (NEXT.O) , opens new tab has withdrawn its application at the Federal Energy Regulatory Commission (FERC) for building a carbon capture and storage (CCS) facility, the company said on Tuesday.

The company had proposed the project in 2021 to reduce permitted carbon dioxide emissions at Rio Grande, its LNG facility in Texas, by more than 90%.

NextDecade said its subsidiary Rio Grande LNG has requested the FERC to terminate the CCS proceeding.

"The CCS project at RGLNG is not sufficiently developed to allow FERC review to continue at this time," said NextDecade CEO Matt Schatzman.

Earlier this month, a U.S. court overturned the FERC's authorization for NextDecade's Rio Grande LNG project for not issuing a supplemental environmental impact statement.

The facility has been in development for several years, suffering repeated delays, and the phase 1 is now expected to reach completion by early 2029 at an expected cost of about $18 billion.

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https://www.reuters.com/business/energy/nextdecade-withdraws-carbon-capture-project-application-ferc-2024-08-20/