Golar LNG and Delfin Midstream sign agreement to jointly develop the Delfin LNG Project in the US Gulf of Mexico
(Thomson Reuters ONE) -
LONDON, June 21st, 2017 - Delfin Midstream ("Delfin"), and Golar LNG Limited
("Golar"), announce that they have signed a Joint Development Agreement to
develop the Delfin LNG project ("Delfin LNG"), off the coast of Cameron Parish,
Lousiana utilising Golar's FLNG technology. The joint development agreement
will facilitate the financing, marketing, construction, development and
operation of Delfin LNG.
Delfin LNG is the first and only permitted floating LNG export project in the
United States. Delfin LNG is a brownfield Deepwater Port requiring minimal
additional infrastructure investment to support up to four FLNG vessels
producing up to 13 million tonnes of LNG per annum. Delfin purchased the UTOS
pipeline, the largest natural gas pipeline in the Gulf of Mexico, in 2014 and
submitted its Deepwater Port license application in 2015. Delfin LNG received a
positive record of decision from MARAD on March 13th, 2017. On June 1st 2017
Delfin received approval from the Department of Energy for long-term exports of
LNG to countries that do not have a Free Trade Agreement with the United States.
Golar has successfully designed, financed, contracted, and built its first FLNG
vessel, the FLNG Hilli Episeyo, which is scheduled to sail away from Keppel
shipyard in Q3 2017. A second vessel of the same FLNG design, the FLNG Gandria,
is soon to be converted subject to a Final Investment Decision ("FID") by the
Fortuna project partners. Golar is currently developing the Mark II next-
generation floating liquefaction solution that is based on its industry leading
Hilli and Gandria designs. The Mark II solution, as used at the Delfin LNG
project, will have >3.0 mmtpa of liquefaction capacity and will be the lowest
cost liquefaction solution in North America.
It is expected that FID on the Delfin project will take place in 2018 with first
LNG to be delivered in 2021/22. Delfin LNG is uniquely positioned in the North
American LNG market as a proven low cost solution, modular, scalable, requiring
limited additional investments in fixed infrastructure, and having already
completed its environmental permitting and received Non-FTA export
authorizations.
Oscar Spieler, Chief Executive of Golar, commented: "Golar's proven execution
model will allow Delfin to deliver the lowest cost liquefaction solution in the
North American market with a construction time of less than 3 years. Golar's low
cost modular floating technology will allow Delfin to make Final Investment
Decisions in 3.0 mmtpa increments at a lower unit cost than large land-based
projects."
Frederick Jones, CEO and Chairman of Delfin commented: "We look forward to
working with Golar to deliver the first floating liquefaction project in North
America and lead the second wave of US LNG projects. Golar's flexible, floating
liquefaction model has proven to be the world's lowest cost liquefaction
solution allowing Delfin to offer innovative commercial solutions with reduced
credit requirements, mid-term offtake contracts (approximately 10 years) and FOB
and DES LNG pricing based on fixed price, S curves or tied to a variety of
energy indexes."
FORWARD LOOKING STATEMENTS
This press release contains certain forward-looking statements concerning future
events and Golar's operations, performance and financial condition. Forward-
looking statements include, without limitation, any statement that may predict,
forecast, indicate or imply future results, performance or achievements, and may
contain the words "believe", "anticipate", "expect", "estimate", "project",
"will be", "will continue", "will likely result", "plan", "intend" or words or
phrases of similar meanings. These statements involve known and unknown risks
and are based upon a number of assumptions and estimates that are inherently
subject to significant uncertainties and contingencies, many of which are beyond
Golar's control. Actual results may differ materially from those expressed or
implied by such forward-looking statements. Important factors that could cause
actual results to differ materially include, but are not limited to, those
factors listed from time to time in the reports and other documents Golar files
with the United States Securities and Exchange Commission.
New factors emerge from time to time, and it is not possible for Golar to
predict all of these factors. Further, Golar cannot assess the impact of each
such factor on its business or the extent to which any factor, or combination of
factors, may cause actual results to be materially different from those
contained in any forward-looking statement. Golar does not intend to release
publicly any updates or revisions to any forward-looking statements contained
herein to reflect any change in Golar's expectations with respect thereto or any
change in events, conditions or circumstances on which any such statement is
based.
For further enquiries please contact:
Delfin Midstream
+ 1 713 703 6698
Golar LNG
+44 (0)20 7063 7900
Stuart Buchanan, Head of Investor Relations
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Golar LNG via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 21.06.2017 - 13:54 Uhr
Sprache: Deutsch
News-ID 549135
Anzahl Zeichen: 6219
contact information:
Town:
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Kategorie:
Business News
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