Delfin Midstream announces FID for first FLNG vessel

Achieving a positive FID is a significant milestone for Delfin as it works to deliver reliable, low-cost LNG exports from the US 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 US 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 US 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 US LNG infrastructure project designed to help meet growing global demand for reliable, secure energy,” commented 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 US LNG to global markets.”

Ben Marshall, President & CEO of Vitol Americas, stated: “This is an important investment for Vitol in the US. 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,” concluded Scott Goodwin and Jon Lewinsohn, Co-Founders and Managing Partners of Diameter. “We look forward to supporting Delfin as it develops additional US 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.

Read the article online at: https://www.lngindustry.com/floating-lng/04062026/delfin-midstream-announces-fid-for-first-flng-vessel/