Delfin Midstream Inc. entered into an investment agreement with Mitsui O.S.K. Lines Ltd. (MOL), the proceeds of which will be used to accelerate final investment decisions on the company’s first two floating LNG (FLNG) vessels this year.
MOL will make an investment in Delfin and Suryan Wirya-Simunovic—MOL’s executive officer for energy-related business, Europe, Americas, and Africa—will join Delfin’s board of directors.
The agreement also provides MOL an opportunity to make additional investments directly in Delfin’s FLNG vessels and establishes a framework for MOL to assist in the construction and operation of the vessels, Delfin said in a release June 8.
Delfin Deepwater Port off the coast of Louisiana is expected to comprise four FLNG vessels, each capable of producing 3.5 million tonnes/year (tpy) of LNG and each connected to existing offshore pipelines.
The company has submitted updated project-related information to the Maritime Administration and US Coast Guard for review and approval and received the non-FTA export license from the Department of Energy for 13.3 million tpy of LNG covering all four vessels.