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So what!-reconranger
Nice gift-reconranger
Wow what a close-reconranger
Great things happening with BETW-reconranger
Awesome board here-reconranger
WOW AWESOME. Thanks for sharing. My group will be dropping in next week.-reconranger
While Delfin LNG LLC plans to launch the first deepwater liquefied natural gas exporting in the Gulf of Mexico, the company is getting ready to establish its headquarters to downtown Houston.
Delfin CEO Frederick Jones, who resides in Louisiana, said his team is deciding between three downtown locations for about 20 people to work.
"Houston is the energy capital of the world," said Delfin CFO Matthew Weil, who relocated from New York to Houston. "There's no other alternative really."
The company will submit its application to the U.S. Maritime Administration in the "relatively near future," Weil said, as Delfin seeks to export LNG to non-Free Trade Agreement nations like India and Japan. Last year, Delfin received approval from U.S. Department of Energy to export LNG to Free Trade Agreement countries.
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The ultimate goal for Delfin includes onshore gas compression facilities in Louisiana, a 42-inch pipeline to transport the LNG offshore and a deepwater port with four floating LNG vessels about 50 miles offshore. The aim is to export up to 13 million tonnes per year. The plan is to commence LNG exports in 2019. While other Houston-based LNG export projects are under construction, none of them are located offshore.
"We very much like the idea of floating liquefied, because it's a moveable asset," Jones said. "Bankers like that.
"If faced with an economic catastrophe, we can pull up our anchor and move somewhere else in the world," he said, adding that the deepwater port could also be moved temporarily to evade major hurricanes.
The company, which has been five years in the making, has been very busy lately. Late last year, Delfin finalized its purchase of Enbridge Offshore Pipelines' LLC's natural gas pipeline system from Cameron Parish in Louisiana. The system will connect with Delfin's deepwater port about 50 miles offshore.
Delfin just contracted with Norway-based Höegh LNG Ltd. shipowner to provide the vessels and with Brazil-based BTG Pactual Commodities as Delfin's "anchor long-term customer." Delfin also just signed another new customer in Litgas, which is part of the Lithuanian, state-controlled Lietuvos Energija energy company.
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"We're repurposing existing Gulf of Mexico pipelines that previously went offshore to onshore," Weil said. "We're basically a complete brownfield project.
"We're flowing gas the other way," he continued. "We'll just add the moorings and the floating liquefied vessel."
Even though oil and gas prices are slumping, Jones said, he still sees the need growing for LNG long term.
"We kind of consider it a bump in the road really," he said.
Delfin is owned by Fairwood Peninsula LLP, which is a partnership of the Singapore-based Fairwood Group and the Texas-based Peninsula Group. But Jones and Weil will not discuss the specifics of project costs and financing. Jones will spend most of his time in Houston going forward, although he said he will continue to travel a lot in Texas and overseas.
Stay up to date on Texas energy news with the Energy Inc. news ticker, bringing you by-the-minute coverage from the Texas Business Journals.
http://www.golarlngpartners.com/ -reconranger
Do your own DD! Get on board or move out!-reconranger
Solid DD on this gem. Thanks for sharing-reconranger
News spreading of thing to come.-reconranger
Awesome move, only the start.-reconranger
Really do you have link.-reconranger
Timber-reconranger
Not going to happen-reconranger
What's the buyout price?-reconranger
OK-reconranger
TIMBER-reconranger
Right, must take profits-reconranger
LOL-reconranger
Enjoy the profits-reconranger
LOL, no thanks for your advice-reconranger
In Mark I trust!-reconranger
Long and strong-reconranger
Thanks for the chart-reconranger
Russian has Trump emails-reconranger
Friday's close. We need to catch up!-reconranger
MARA $5.74
MGTI $4.20
RIOT $28.50
INTV $1.50
Awesome DD. Thanks for sharing-reconranger
Awesome, more to come. Great profit for you. Good luck with this POS. Have a great weekend. Going snowboarding Steamboat. Give yourself a break buddy.-reconranger