Delfin Midstream has sanctioned the first phase of its Louisiana-based LNG export project, taking a final investment decision (FID) on a $5 billion floating liquefied natural gas (FLNG) vessel that the company says will be both the first floating LNG export facility in the United States and the largest FLNG project globally by liquefaction capacity.
The first vessel, Delfin FLNG 1, is expected to export up to 4.4 million metric tons of LNG annually and is scheduled to begin production in 2030. The project represents a major milestone for the Houston-based developer, which has spent years advancing an offshore LNG export concept designed to leverage existing pipeline infrastructure and floating liquefaction technology.
The FID was accompanied by a new round of investment led by Global Infrastructure Partners, part of BlackRock, alongside existing investors Mitsui O.S.K. Lines, Vitol, and Diameter Capital Partners. Financial terms of the equity commitments were not disclosed.
Delfin CEO Dudley Poston described the decision as a significant step for both the company and global energy markets, emphasizing the project’s role in expanding U.S. LNG export capacity and strengthening energy security.
The project enters construction with long-term LNG sales agreements already in place with several major buyers, including Vitol, Expand Energy, Centrica, and Gunvor. Delfin said it has secured all permits and licenses required to begin construction.
Samsung Heavy Industries and engineering firm Black & Veatch have been selected as key construction partners for the first FLNG vessel.
The investment comes as global LNG demand continues to grow, particularly across Asia and Europe, where buyers are seeking long-term supplies from politically stable producers. Floating LNG facilities have gained traction as a potentially lower-cost and faster-to-develop alternative to traditional onshore export terminals, although large-scale FLNG developments remain relatively rare globally.
Delfin’s broader project has already received authorization from the U.S. Department of Energy to export up to 13.2 million tonnes of LNG annually and holds a deepwater port license from the U.S. Maritime Administration. The company ultimately plans to deploy multiple FLNG vessels offshore Louisiana, with FIDs for vessels two and three targeted over the next year.
If completed as planned, Delfin LNG would establish a new model for U.S. LNG exports by moving liquefaction offshore while further expanding the country’s position as the world’s leading LNG supplier.
