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(Bloomberg) — The United Arab Emirates’ main oil company bought a stake in NextDecade Corp.’s natural gas export project in Texas, in a first US acquisition that also gives it a 20-year supply deal.
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Abu Dhabi National Oil Co. will take an 11.7% stake in phase 1 of the Rio Grande LNG project, according to a statement Monday. The deal will also give Adnoc 1.9 million tons a year of liquefied natural gas supply from the planned Train 4. NextDecade shares gained as much as 16% in New York trading.
Houston-based…