Wednesday, December 20, 2023 9:50:38 PM
Those US projects using these non-traditional liquefaction technologies are advancing the country’s export buildout, which has put it on track to become the world’s largest LNG producer in 2023. US LNG exports in 2023 are already at 82.3 million tons, according to Kpler, ahead of Australia (77.5 million tons) and Qatar (76.6 million tons), with less than two weeks left in the year. US LNG had been in third place from 2019 through 2022.
Houston-based floating LNG specialist Delfin Midstream said earlier this month that it was in the final phase toward a final investment decision on the first three vessels at its planned deepwater port in the Gulf of Mexico. A specific target date for the project sanction has not been given but it has already been delayed from a previous forecasted October sanction. The Delfin Deepwater Port off Louisiana can support four vessels with a combined capacity of 13.3 million tons/yr (1.7 billion cubic feet per day) and can be expanded to another two vessels.
Delfin, like a number of US LNG developers, suffered delays due to the Covid-19 pandemic, but it has seen a flurry of commercial activity as a result of the energy crisis spurred by the Ukraine conflict.
However, project sanction is closer than ever as Delfin Midstream earlier this month signed Gunvor as an offtaker, the fourth global trading house to agree to purchase cargoes from the project. Under the deal, Delfin will supply between 500,000 and 1 million tons/yr to Switzerland-based Gunvor on an f.o.b. basis for 15 years. This comes after the company sold the remaining capacity of the first LNG vessel after penning supply agreements with Centrica and Hartree Partners this year and trading house Vitol last year. Delfin CEO Dudley Poston said the Gunvor deal "further demonstrates our attractiveness as a long-term source of scalable, reliable and clean LNG.”
Design and engineering work was completed by partners Samsung Heavy Industries and Black & Veatch on the initial vessel in 2020, and Delfin announced earlier this year a design and engineering contract with Wison Offshore & Marine to develop the liquefaction vessels. Delfin also entered into a strategic investment agreement with Mitsui O.S.K. in June and has heads of agreement with US independent Devon Energy, which is also providing capital and has options for additional future equity investments.
New Fortress Offshore
Recent TGLO News
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/05/2024 09:06:12 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/14/2024 06:57:53 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/07/2023 08:01:27 PM
Unitronix Corp. to Invest $3 Million in USA Unity Coin Project • UTRX • Oct 7, 2024 7:08 AM
North Bay Resources Announces Assays up to 5 oz/ton Gold, 1.5 oz/ton Platinum, 0.5 oz/ton Palladium, and 0.5 oz/ton Rhodium at Mt. Vernon Gold Mine, Sierra County, California • NBRI • Oct 4, 2024 9:15 AM
Basanite, Inc. Appoints Ali Manav as Interim Chief Executive Officer • BASA • Oct 3, 2024 9:15 AM
Integrated Ventures Announces Launch of MedWell Facilities, LLC and Lease Agreement with Giant Fitness Clubs • INTV • Oct 3, 2024 8:45 AM
Beyond the Horizon: Innovative Drug Combinations Offer New Hope for Alzheimer's and More • NVS • Oct 3, 2024 8:45 AM
SMX and FinGo Enter Into Collaboration Mandate to Develop a Joint 'Physical to Digital' Platform Service To Enhance Natural Rubber Industry's Ability to Report on Sustainable and Ethical Supply Chains • SMX • Oct 3, 2024 7:00 AM