Delfin Midstream announced on Wednesday that it had made a final investment decision in favor of the first FLNG (floating liquefied gas) vessel of?Delfin LNG, a project currently under development off the coast of Louisiana and the Gulf of Mexico.

Delfin FLNG 1 will be the largest FLNG project in the world, and the first floating liquefaction plant in the U.S., according to the company. It is expected to export 4.4 million tonnes per year.

Delfin has received investments from Mitsui O.S.K., Global Infrastructure Partners (a division of BlackRock), and Global Infrastructure Partners. Lines, Diameter Captial Partners, and Vitol are among the investors that Delfin has secured, according to a company statement released on Wednesday.

After an explosion near Holly Beach in Louisiana, which was supposed to supply gas to the facility, it took months for construction to begin.

Eduard Ruijs is the head of investment for Vitol which has a stake in the project. He said that the Delfin Development would have received 'financial approval' earlier if the pipeline explosion had not occurred.

The project has long-term LNG agreements with leading global energy companies such as Vitol Expand?Energy, Centrica, and Gunvor.

Delfin stated that the company is working to secure FIDs in the next year for FLNG vessel?two and three. Reporting by Curtis Williams from Houston and Sumit Sha from Bengaluru. Editing by Nathan Crooks and Shilpa Majumdar.

(source: Reuters)