HOUSTON--(BUSINESS WIRE)--Delfin LNG LLC (“Delfin LNG”) announced the signing of a memorandum of understanding (“MOU”) with BTG Pactual Commodities (BVMF:BBTG11) in relation to the tolling of all of the liquefaction capacity for the first floating liquefaction vessel to be deployed at the Delfin LNG Deepwater Port Project. The MOU includes an option for BTG Pactual Commodities to expand its tolling arrangement to include the liquefaction capacity of additional floating liquefaction vessels under development by Delfin LNG.
“We are very pleased to be signing this MOU with BTG Pactual Commodities as our anchor long-term customer,” said Frederick Jones, President of Delfin LNG. “BTG Pactual Commodities has been involved with the Delfin LNG Deepwater Port Project from its inception and is uniquely positioned to be a powerful participant in the project. Its strong presence in natural gas in the Americas and Europe further make them an ideal partner. Our MOU is an important milestone as we continue to develop the United States’ first floating deepwater liquefaction project.”
In February 2014, Delfin LNG received approval from The Office of Fossil Energy of the Department of Energy (“DOE”) for exports to FTA countries. The approval encompasses a long-term, multi-contract authorization to export LNG produced from domestic sources in volume equivalent to approximately 657.5 billion cubic feet per year (Bcf/yr) of natural gas, or 1.8 billion cubic feet per day (Bcf/d). Delfin’s proposed floating liquefaction project is to be located approximately 50 miles offshore of Cameron Parish, Louisiana. Delfin LNG has also applied for authorization to export to Non-FTA countries.
Delfin LNG also recently announced the signing of a Joint Development Agreement with Höegh LNG Ltd (Oslo Børs: HLNG) in relation to its US-based Delfin Liquefied Natural Gas Deepwater Port Project.
About Delfin LNG LLC:
Delfin LNG LLC is currently developing the Delfin LNG Deepwater Port Project, a floating liquefaction and export facility to be located in the Gulf of Mexico. As planned, the Delfin LNG Project consists of onshore gas compression facilities, a 42-inch pipeline to transport natural gas offshore, and a deepwater port with four moorings and four floating liquefaction vessels. Subject to regulatory approval, the Project will be constructed in phases and will have an ultimate LNG send out capacity of 13 million metric tonnes per annum. Further information is available at www.delfinlng.com.
About BTG Pactual:
BTG Pactual Group is an investment bank and asset and wealth manager with a dominant franchise in Brazil, and a successful international investment and distribution platform. Further information is available at https://www.btgpactual.com