MOL Invests $300 Million in Delfin FLNG After $5 Billion FID

A new investment is bringing one of the world's largest LNG shipping operators deeper into a first-of-its-kind U.S. export project.

(P&GJ) — Mitsui O.S.K. Lines (MOL) will invest approximately $300 million in Delfin FLNG 1, the first floating LNG export facility planned for the United States, following the project's recent $5 billion final investment decision (FID).

The investment gives MOL an estimated 23% share of the project's roughly $1.4 billion equity contribution. The company said the move expands its presence across the LNG value chain beyond shipping and regasification infrastructure.

Delfin FLNG 1 is being developed offshore Louisiana and is designed to produce 4.4 MMtpy of LNG. The facility will receive natural gas from the U.S. mainland through existing pipeline infrastructure before liquefying and loading LNG onto carriers for export. First production is targeted for 2030.

The project is backed by a consortium that includes Global Infrastructure Partners, Vitol and other investors. Long-term LNG sales agreements have been secured with companies including Vitol, Gunvor, Centrica and Expand Energy.

Construction contracts for the floating liquefaction vessel have been awarded to Samsung Heavy Industries and Black & Veatch, allowing the project to move into the execution phase following FID.

MOL said its participation builds on an earlier investment in Delfin Midstream and will leverage the company's experience operating LNG carriers, floating storage and regasification units (FSRUs), and other offshore energy assets.