Delfin Midstream signs LoA with Samsung Heavy Industries

Core Insights - Delfin Midstream has signed a letter of award (LoA) with Samsung Heavy Industries (SHI) for the first floating liquefied natural gas (FLNG) vessel at the Delfin LNG project, moving towards a final investment decision (FID) [1][2] - The project is set to have an FID in November 2025 and aims to establish the first LNG export deep-water port facility in the US, with a production capacity of up to 13.2 million tonnes per annum (mtpa) [2][5] - The collaboration between Delfin Midstream and SHI will extend to the second and third FLNG vessels, with a focus on strategic business opportunities including shipbuilding cooperation [3][4] Project Details - The LoA designates SHI as the exclusive engineering, procurement, construction, and installation (EPCI) contractor, granting Delfin exclusive construction rights at SHI's dock [1][2] - An early engagement phase and project de-risking will be initiated to prepare for execution, following Delfin's procurement of gas turbine manufacturing capacity from Siemens Energy [2] - The Delfin project is expected to contribute to the economy and create jobs over the long term, with a heads of agreement signed for the long-term supply of 1.5 mtpa of LNG for a minimum of 15 years [5] Leadership Perspective - Delfin Midstream CEO Dudley Poston expressed satisfaction with the progress towards FID, emphasizing the strengthening of the construction pathway for all three FLNG vessels and the potential for increased cooperation in trade and energy between Korea and the USA [4]