Golar LNG and Delfin Midstream Sign Agreement to Jointly LNG Project
Delfin Midstream and Golar LNG Limited have signed a Joint Development Agreement to develop the Delfin LNG project off the coast of Cameron Parish, Lousiana utilising Golar’s FLNG technology. The joint development agreement will facilitate the financing, marketing, construction, development and operation of the project.
The Delfin LNG Project is the first and only permitted floating LNG export project in the United States. In 2014, Delfin purchased the UTOS pipeline, the largest natural gas pipeline in the Gulf of Mexico and, in 2015, submitted its Deepwater Port license application in 2015. On March 13, 2017, Delfin LNG’s application was approved by the United States Maritime Administration. On June 1st, 2017, the company received approval from the Department of Energy for long-term exports of LNG to countries that do not have a Free Trade Agreement with the United States.
Golar has successfully designed, financed, contracted, and built its first FLNG vessel, the FLNG Hilli Episeyo, which is scheduled to sail away from the Keppel shipyard in Q3 2017. A second vessel using the design, the FLNG Gandria, is soon to be converted, subject to a Final Investment Decision by the Fortuna project partners. Golar is also currently developing the Mark II next-generation floating liquefaction solution, based on its industry leading Hilli and Gandria designs. The Mark II solution, which will be used at the Delfin LNG project, will have more than 3.0 mmtpa of liquefaction capacity and be the cheapest liquefaction solution in North America.
It is expected that the final investment decision on the Delfin LNG Project will take place in 2018 with first LNG to be delivered in 2021/22.
“We look forward to working with Golar to deliver the first floating liquefaction project in North America and lead the second wave of US LNG projects,” Frederick Jones, CEO and Chairman of Delfin, said. “Golar’s flexible, floating liquefaction model has proven to be the world’s lowest cost liquefaction solution allowing Delfin to offer innovative commercial solutions with reduced credit requirements, mid-term offtake contracts (approximately 10 years) and FOB and DES LNG pricing based on fixed price, S curves or tied to a variety of energy indexes.”
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