Vitol invests in Delfin FLNG 1 offshore US project
- Delfin Midstream has taken Final Investment Decision on Delfin FLNG 1.
- The FLNG will have a 4.4 million tonnes per annum nameplate capacity and is expected to begin production in 2030.
- Vitol is an equity investor and will be the project's largest offtaker with 1.4 MTPA.
- The project is sited ~40 miles off Louisiana, will cost about US$5 billion and will use mainland feed gas via existing pipelines.
Transaction and partners
Delfin Midstream has taken Final Investment Decision (FID) on Delfin FLNG 1. Vitol is investing equity alongside Global Infrastructure Partners (GIP), described as part of BlackRock, and Mitsui O.S.K. Lines (MOL); Vitol previously invested in the Delfin LNG project in 2022 and MOL began its investment in 2023.
Project scope and schedule
The FLNG facility will be located approximately 40 miles off the southern coast of Louisiana and have a nameplate LNG production capacity of 4.4 million tonnes per annum. The project cost is approximately US$5 billion and production is expected to begin in 2030.
Supply chain and operations
Feed gas will be sourced on the U.S. mainland and transported via existing pipelines to the offshore FLNG vessel, where gas will be liquefied onboard and loaded onto LNG carriers for delivery to global markets.
Offtake and market position
Vitol will act as both an equity investor and the largest offtaker with volumes of 1.4 MTPA. Delfin FLNG 1 is presented as the first offshore LNG liquefaction facility in the United States and the largest floating LNG project globally.
Source: Vitol