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“Our decision to invest in Delfin was the result of a thorough process intended to create additional pricing diversification for our natural gas portfolio and deliver a sustainable and capital efficient return for our shareholders,” said Rick Muncrief, Devon’s President and CEO. “Devon has a strong track record of finding best-in-class midstream and downstream solutions for our production, and we are excited to partner with Delfin to meet the need for safe, clean, and reliable energy.”

Following its recent announcement of a binding sales and purchase agreement (SPA) with Vitol and a HOA with Centrica, this announcement represents Delfin’s third major agreement in the past two months. Delfin is also in numerous advanced discussions on additional binding SPAs, HOAs, and tolling agreements similar to those previously announced.

As a modular project requiring only 2 to 2.5 million tpy of long-term contracts to begin construction, and with all necessary permits in hand, Delfin is on schedule to make FID on its first FLNG vessel by the end of this year.

Latham & Watkins LLP is serving as legal advisor to Delfin. Kirkland & Ellis LLP is serving as legal advisor to Devon.