Delfin Midstream has announced a $5 billion Final Investment Decision (FID) for its first floating LNG (FLNG) vessel, marking a major step toward building the first floating liquefaction facility in the United States.

The project, known as Delfin FLNG 1, will be developed in Louisiana and offshore in the Gulf of America and is expected to have a capacity of 4.4 million tonnes of LNG per year, making it the largest FLNG project globally. The FID also unlocks new investment from a group led by Global Infrastructure Partners (GIP, part of BlackRock), along with existing and strategic investors including Mitsui O.S.K. Lines (MOL), Vitol, and Diameter Capital Partners.

As explained, these partners bring shipping, trading, and infrastructure financing expertise, reinforcing the project’s backing as it moves into construction.

Securing FID for our first FLNG vessel is a groundbreaking milestone not only for Delfin, but also for global energy security. We are excited by our ability to support U.S. energy and maritime dominance by bringing safe, reliable, low-cost LNG exports to market

… commented Dudley Poston, Delfin CEO. 

Meanwhile, Mark Florian, Head of GIP Mid-Market Funds, stated that backed by an experienced management team, proven construction partners and long-term agreements with leading energy companies, Delfin FLNG 1 is well positioned to deliver cost-competitive U.S. LNG to global markets.

A Floating Liquefied Natural Gas (FLNG) vessel is an offshore facility that extracts, liquefies, stores, and offloads natural gas directly above a marine reservoir. By performing the entire processing cycle at sea, FLNG eliminates the need for long pipelines and onshore plants, unlocking smaller or remote gas fields efficiently.

The company has also secured permits and signed construction agreements with firms including Samsung Heavy Industries and Black & Veatch. To remind, in late 2025, Conrad Shipyard and Samsung Heavy Industries signed of a Memorandum of Understanding (MoU) to jointly explore opportunities in the rapidly expanding U.S. LNG bunkering market.

We are delighted to further our strategic partnership with Delfin while continuing to leverage our significant expertise in offshore floating facilities to support the Company’s essential work and expand our business in the U.S. and across the gas value chain globally

… said Jotaro Tamura, President and CEO of MOL. 

The first vessel is expected to begin production in 2030, and Delfin is already working toward final investment decisions for additional FLNG vessels in the coming years, signaling plans for broader expansion of its U.S. LNG export platform.

This is an important investment for Vitol in the United States. Delfin FLNG 1 will deliver reliable, cost-competitive American energy to global markets. We are proud to be a part of this first for American energy alongside Delfin, GIP and MOL

… noted Ben Marshall, President & CEO of Vitol Americas. 

Finally, Scott Goodwin and Jon Lewinsohn, co-founders and Managing Partners of Diameter, said that they were delighted to share in the milestone with Delfin after investing in the company the previous year, adding that they look forward to supporting Delfin as it develops additional U.S. energy infrastructure in the coming years.