Delfin Midstream Inc. (Delfin) and MidOcean Energy (MidOcean), an LNG company formed and managed by EIG, announced that they have entered into an agreement pursuant to which MidOcean can acquire up to a 50% equity interest in Delfin’s second floating LNG production vessel (FLNG2), to be located offshore Louisiana, and receive a corresponding share of LNG production, subject to a positive FID and the satisfaction of customary conditions precedent. In parallel, Delfin announced that it has issued a Limited Notice to Proceed (LNTP) to Siemens Energy, Inc. for the procurement of long lead equipment — including four SGT-750 gas turbines and mixed-refrigerant compressors — in connection with FLNG 2. The LNTP represents a key pre-final investment decision (FID) milestone as the parties continue advancing the project toward a targeted FID by year-end 2026.
Delfin and MidOcean are also collaborating on future pre-development activities to accelerate a potential third floating LNG vessel following FLNG2, reflecting the parties’ shared commitment to expanding Gulf Coast LNG supply to meet growing global demand.
Latham & Watkins LLP advised MidOcean Energy on the transaction with a deal team led by Brian Hintze, J.P. Sweny, Evelyne Girio, and Justin T. Stolte.
Where the legal industry reads first.
Enjoyed this article? Get the biggest legal industry updates, deals, appointments, insights and expert interviews in your inbox, free.
No spam. Unsubscribe anytime.
