Delfin Is Close to Proceeding With First US Floating LNG Project
By Ruth Liao and Priscila Azevedo Rocha
May 28, 2026 at 8:01 AM MST
Save
Translate
1:44
Takeaways by Bloomberg AI
Delfin Midstream Inc. is close to greenlighting the first floating liquefied natural gas export site in the US, according to people familiar with the matter.
Financing for the estimated $4.3 billion Delfin LNG project’s first phase could be finalized in the coming days, said the people, who asked not to be identified.
The planned Delfin project would consist of a deepwater port in the US Gulf that would support three floating LNG export vessels with a combined capacity of up to 13.2 million tons a year.
Delfin Midstream Inc. is close to greenlighting what would be the first floating liquefied natural gas export site in the US, according to people familiar with the matter.
Financing for the estimated $4.3 billion Delfin LNG project’s first phase could be finalized in the coming days, said the people, who asked not to be identified because they were not authorized to speak publicly. Once the investment is secured, the project can begin construction off the coast of Louisiana. The project would use specialized floating vessels to hold liquefaction equipment on board to export the fuel.
Privately held Delfin Midstream, the developer of the project, did not immediately respond to request for comment.
Delfin is among the LNG project developers in the US racing to tie up financing to export the surplus of US gas to global markets. Disruption from the war in the Middle East has shut in nearly one-fifth of the world’s LNG supply, which has pushed spot prices higher and made the fuel more expensive for buyers in Asia and Europe.
The planned Delfin project would consist of a deepwater port in the US Gulf that would support three floating LNG export vessels with a combined capacity of up to 13.2 million tons a year. The site’s developer initially targetedmaking a final investment decision earlier this year but missed that milestone.
In February, a portion of an onshore pipeline in Louisiana that would connect to the project’s offshore equipment exploded, setting off a federal investigation.
Companies that made deals to purchase LNG from Delfin include German energy company Securing Energy for Europe GmbH, UK energy company Centrica Plc. and commodity trading firms Gunvor Group, Hartree Partners LP and Vitol Group. Vitol also is considering investing equity in Delfin, Bloomberg News previously reported.
— With assistance from Stephen Stapczynski
Market Data 
Markets 
