U.S. Grants License for First Floating LNG Export Terminal Off Louisiana

U.S. Maritime Administration issued a license to Houston-based Delfin Midstream to build the country's first floating liquefied natural gas export terminal in federal waters roughly 40 nautical miles off Cameron Parish, Louisiana. The $5 billion project received initial conditional approval in 2017 and cleared a Final Investment Decision on June 3, 2026.

First LNG production and exports are scheduled between 2029 and 2030. The terminal will connect four floating LNG units to existing offshore pipelines.

U.S. Gulf. 9 billion contract to build the initial FLNG 1 vessel. 4 million tonnes of LNG per year. Nearly 90 percent of FLNG 1's export capacity is secured through binding long-term sale and purchase agreements.

U.K. Lines, and Vitol. 6 billion in financing for the project. 4 billion cubic feet per day, plus more than 170 smaller domestic facilities.

The project advances after a brief pause on certain LNG export permits by the Biden administration in early 2024.