MNI: Delfin LNG – Deep Waters, Deeper Ambitions

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• Delfin LNG could be the next US LNG project to reach FID. However, the facility guidance for imminent FID has been around for many years, casting doubt on whether it can reach an FID by YE2025 as guided.
• Delfin has SPA’s for 5.1-5.6 MTPA, which meets their stated threshold to FID 2 vessels.
• The project would be the first offshore LNG facility for the US and has been designed to work with existing gas infrastructure to keep project costs low.
• While Delfin has the contract backing for a positive FID, gas infrastructure dynamics have shifted since it was first proposed. Tying into onshore gas may require more work and investment than originally planned as the Transco lateral is likely already running at full capacity.