Delfin Midstream Inc. has finalized a binding liquified natural gas sale and purchase agreement with Vitol Inc.
As per the agreement, Delfin will supply 0.5 million tonnes per annum on a free on-board basis at the Delfin Deepwater Port 40 nautical miles off the coast of Louisiana to VIC for a 15-year period.
The SPA is indexed to Henry Hub benchmark. The agreement is valued at approximately $3 billion in revenue over 15 years.
In addition to the VIC agreement, Delfin has signed other HOAs and Term Sheets that are being finalized into fully termed agreements.
As a modular project requiring only 2.0 to 2.5 MTPA of long-term contracts to begin construction, Delfin is on schedule to make Final investment Decision on the first FLNG vessel by the end of this year.
Tags: Delfin Midstream, Henry Hub, LNG, SPA, Vitol
Recent Posts
Vedanta Aluminium signs pact with GAIL for supply of natural gas
HMM introduces South Korea’s first LNG-powered vessels
NGEL inks pact with NREDCAP in Andhra for RE projects
Global warming won’t end if net zero is redefined
The Liberian Registry and Korean Register (KR) grant AiP to Samsung
To satisfy decarbonization targets, Big Oil invests billions in the manufacture of biofuel
ISO issues standards for methanol as a marine fuel
Amazon, partners to test electric trucks on a freight corridor in India