BUZZ-NextDecade shares surge as the US Federal Energy Regulatory Commission (FERC) approves increased capacity for the Rio Grande LNG project and the company announces quarterly profits.

October 29 - ** Liquefied natural gas (LNG) producer NextDecade NEXT.O shares rose about 10% to $7.15

** NEXT expects its Line 1 to achieve first LNG production in the second quarter of 2027 and reach full operation in the third quarter of 2027

** The company stated that regulators have approved an increase in capacity for Lines 1 to 5 from 27 mtpa to 30.15 mtpa

** NEXT is developing the 7th and 8th production lines at the west end of the Rio Grande LNG facility site, with a pre-filing expected to be submitted to the regulator FERC by the end of the year

** Earlier this year, NEXT said it was evaluating several areas within the plant site (link) for the development of Lines 7 and 8

** The company also announced a third-quarter net profit attributable to common shareholders of $155.4 million, compared with a loss of $109.5 million in the same period last year

** After including this session's gain, the stock has risen 34.6% year to date

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