Probably, I expect them to FID by end of winter at the latest. Hard to say what “start construction” exactly means in the eyes of the DOE, but they need to submit their app and make their case well in advance. The rules are clear that they must have “started construction” in order to be considered for an extension permit, otherwise the DOE will let it expire. The FERC request was made a little over 2 months in advance before the 9/28 deadline, so I’m guessing this may lock up pretty quick, which is why the fourth boat is a bit far-fetched. This isn’t on Delfin’s clock anymore. If they lock up a third boat with someone other than Devon in the next few weeks, I’ll sing a different tune, but 3 boats now and 3 later ain’t bad and the initial project is 75% funded out the gate.
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