Note 15 - Subsequent Events	12 Months Ended
Dec. 31, 2019
Notes to Financial Statements
Subsequent Events [Text Block]	Note 15 — Subsequent Events On February 13, 2020, NextDecade LLC entered into an Omnibus Agreement (the “Omnibus Agreement”) with Spectra Energy Transmission II, LLC, a wholly owned subsidiary of Enbridge Inc. (“Buyer”), pursuant to which NextDecade LLC agreed to sell, and Buyer agreed to purchase, one hundred percent of the equity interests (the “Equity Interests”) in Rio Bravo. The purchase price for the Equity Interests (the “Purchase Price”) will be the sum of (i) approximately $17.4 million plus (ii) the amount of direct and indirect costs incurred by Rio Bravo, the Company or any of its other affiliates in respect of the Pipeline from October 1, 2019 through closing of the sale of the Equity Interests (the “Closing”), provided, however, that the Purchase Price may not exceed $25 million. At the Closing, Buyer will pay NextDecade LLC $15 million of the Purchase Price. The carrying value of such Equity Interests was $12.6 million at December 31, 2019. The remainder of the Purchase Price is to be paid within five business days after the date that Rio Grande has received, after a final positive investment decision, the initial funding for the development, construction and operation of the Terminal. Additionally, the Omnibus Agreement provides that at the Closing, Rio Bravo and an indirect wholly owned subsidiary of the Company, will enter into a precedent agreement in a form negotiated by Buyer and NextDecade LLC pursuant to which the Company will retain its rights to the natural gas firm transportation capacity on the Pipeline for a term of at least twenty years and Rio Bravo will provide firm pipeline transportation service to the Company in order to supply natural gas to the Terminal. On March 2, 2020, the Closing occurred and NextDecade LLC received proceeds of $15 million and Buyer received the Equity Interests in Rio Bravo. In addition, Rio Grande LNG Gas Supply LLC (“Rio Grande Gas Supply”), an indirect wholly owned subsidiary of the Company, entered into precedent agreements with Rio Bravo and Valley Crossing Pipeline, LLC (“VCP”), pursuant to which Rio Grande Gas Supply will retain its rights to the natural gas firm transportation capacity on the Pipeline for a term of at least twenty years and Rio Bravo and VCP will provide firm pipeline transportation service to Rio Grande Gas Supply in order to supply natural gas to the Terminal. VCP and, as of the Closing, Rio Bravo are wholly owned subsidiaries of Enbridge, Inc. As a result of the sale of the Equity Interests, our commitment with respect to wetland and habitat mitigation measures, as disclosed in Note 13 - Commitments and Contingencies , is reduced from $5.5 million to $4.0 million. We have evaluated subsequent events through March 3, 2020, the date the financial statements were issued. Any material subsequent events that occurred during this time have been properly recognized and/or disclosed in these financial statements.

Note

— Subsequent Events

February 13, 2020,

NextDecade LLC entered into an Omnibus Agreement (the “Omnibus Agreement”) with Spectra Energy Transmission II, LLC, a wholly owned subsidiary of Enbridge Inc. (“Buyer”),

pursuant to which NextDecade LLC agreed to sell, and Buyer agreed to purchase,

one hundred

percent of the equity interests (the “Equity Interests”) in Rio Bravo. The purchase price for the Equity Interests (the “Purchase Price”) will be the sum of (i) approximately

$17.4

million

plus (ii) the amount of direct and indirect costs incurred by Rio Bravo, the Company or any of its other affiliates in respect of the Pipeline from

October 1, 2019

through closing of the sale of the Equity Interests (the “Closing”), provided, however, that the Purchase Price

may

not

exceed

$25

million. At the Closing, Buyer will pay NextDecade LLC

$15

million of the Purchase Price. The carrying value of such Equity Interests was

$12.6

million at

December 31, 2019.

The remainder of the Purchase Price is to be paid within

five

business days after the date that Rio Grande has received, after a final positive investment decision, the initial funding for the development, construction and operation of the Terminal. Additionally, the Omnibus Agreement provides that at the Closing, Rio Bravo and an indirect wholly owned subsidiary of the Company, will enter into a precedent agreement in a form negotiated by Buyer and NextDecade LLC pursuant to which the Company will retain its rights to the natural gas firm transportation capacity on the Pipeline for a term of at least

twenty

years and Rio Bravo will provide firm pipeline transportation service to the Company in order to supply natural gas to the Terminal.

March 2, 2020,

the Closing occurred and NextDecade LLC received proceeds of

$15

million and Buyer received the Equity Interests in Rio Bravo. In addition, Rio Grande LNG Gas Supply LLC (“Rio Grande Gas Supply”), an indirect wholly owned subsidiary of the Company, entered into precedent agreements with Rio Bravo and Valley Crossing Pipeline, LLC (“VCP”), pursuant to which Rio Grande Gas Supply will retain its rights to the natural gas firm transportation capacity on the Pipeline for a term of at least

twenty

years and Rio Bravo and VCP will provide firm pipeline transportation service to Rio Grande Gas Supply in order to supply natural gas to the Terminal. VCP and, as of the Closing, Rio Bravo are wholly owned subsidiaries of Enbridge, Inc.

As a result of the sale of the Equity Interests, our commitment with respect to wetland and habitat mitigation measures, as disclosed in

Note

Commitments and Contingencies

, is reduced from

$5.5

million to

$4.0

million.

We have evaluated subsequent events through

March 3, 2020,

the date the financial statements were issued. Any material subsequent events that occurred during this time have been properly recognized and/or disclosed in these financial statements.