- First FLNG facility in the U.S. will have the largest liquefaction capacity of any floating project globally
- Major milestone in the advancement of critical energy infrastructure in the U.S.
- Secures additional investment from Global Infrastructure Partners, Mitsui O.S.K. Lines, Vitol and Diameter Capital Partners
Delfin Midstream Inc. has taken a Final Investment Decision ('FID') for the first floating liquefied natural gas ('FLNG') vessel of the Delfin LNG project under development in Louisiana and offshore in the Gulf of America. Delfin FLNG 1 will be the first floating liquefaction facility in the United States and the largest FLNG project globally, with an expected export capacity of 4.4 million tonnes of LNG per year.
Achieving a positive FID is a significant milestone for Delfin as it works to deliver reliable, low-cost LNG exports from the United States to customers around the world. Concurrent with the FID, a group of investors led by Global Infrastructure Partners ('GIP'), a part of BlackRock, including existing Delfin investors Mitsui O.S.K. Lines, Ltd. ('MOL'), owner of the world’s largest fleet of LNG carriers, Vitol, a leading energy and commodities trader, and Diameter Capital Partners, a leading alternative credit asset manager, have agreed to invest in the first phase of this critical energy infrastructure project.
Dudley Poston, Delfin CEO, said, 'Securing FID for our first FLNG vessel is a groundbreaking milestone not only for Delfin, but also for global energy security. We are excited by our ability to support U.S. energy and maritime dominance by bringing safe, reliable, low-cost LNG exports to market. This monumental achievement is a testament to the strength of our partnerships, meaningful collaboration across all project stakeholders and the hard work of our dedicated team. We look forward to working closely with GIP, MOL and Vitol on delivering this first phase of the Delfin LNG project.'
Jotaro Tamura, President and CEO of MOL, added, 'MOL began its investment in Delfin in 2023 and since then has seen the Company’s FLNG project rapidly progress. We are delighted to further our strategic partnership with Delfin while continuing to leverage our significant expertise in offshore floating facilities to support the Company’s essential work and expand our business in the U.S. and across the gas value chain globally.'
'We are excited to partner with Delfin, MOL and Vitol to support the construction of the first phase of Delfin FLNG, a landmark U.S. LNG infrastructure project designed to help meet growing global demand for reliable, secure energy,' said Mark Florian, Head of GIP Mid-Market Funds. 'Backed by an experienced management team, proven construction partners and long-term agreements with leading energy companies, Delfin FLNG 1 is well positioned to deliver cost-competitive U.S. LNG to global markets.'
Ben Marshall, President & CEO of Vitol Americas, said: 'This is an important investment for Vitol in the United States. Delfin FLNG 1 will deliver reliable, cost-competitive American energy to global markets. We are proud to be a part of this first for American energy alongside Delfin, GIP and MOL.'
'We are delighted to share in this milestone with Delfin after investing in the Company last year,' said Scott Goodwin and Jon Lewinsohn, co-founders and Managing Partners of Diameter. 'We look forward to supporting Delfin as it develops additional U.S. energy infrastructure in the coming years.'
Delfin FLNG 1 is backed by long-term LNG sales agreements with leading global energy companies including Vitol, Expand Energy, Centrica and Gunvor and has secured all necessary permits and licenses required to begin construction. Additionally, construction contracts for Delfin’s first FLNG vessel have been executed with world class partners including Samsung Heavy Industries Co., Ltd. and Black & Veatch. With the first vessel scheduled to begin LNG production in 2030, the Company continues to diligently advance towards securing FIDs for FLNG vessels two and three over the coming year.
About Delfin
Delfin is a leader in LNG export infrastructure utilizing low-cost floating LNG technology. Delfin is the parent company of Delfin LNG, which received a deepwater port license from the U.S. Department of Transportation Maritime Administration and approval from the U.S. Department of Energy to export up to 13.2 million tonnes of LNG annually. Supporting America’s energy and maritime dominance, Delfin’s floating LNG project is not only the first deepwater port LNG export project in the United States, but also the largest of its kind in the world. Additional information is available at www.delfinmidstream.com.
Source: Delfin Midstream
