U.S. LNG developer Delfin LNG asked federal energy regulators for a third extension until September 2022 to bring into service the onshore facilities of its proposed floating LNG export plant off the coast of Louisiana.
The U.S. Federal Energy Regulatory Commission (FERC) in September 2017 authorized Delfin to build its project by September 2019.
In June 2019, Delfin asked FERC for an extension to finish the project until March 2023. FERC, however, only gave Delfin a one-year extension until September 2020.
In June 2020, Delfin asked and received another one-year extension from FERC to finish the project by September 2021.
In asking for this third extension, Delfin said global “economic conditions are recovering from the COVID-19 pandemic and the spot and short-term markets for LNG have significantly improved ... which will support the company to enter into long-term LNG offtake contracts.”
Delfin is one of more than a dozen North American LNG export projects that have repeatedly pushed back decisions to start construction due primarily to a lack of customers signing long-term deals needed to finance the multibillion-dollar facilities.
Delfin said in its FERC filing it “is confident that it will secure commercialization in the coming year.”
Delfin’s project would use existing offshore pipelines to supply gas to up to four vessels that could produce up to 13 million tonnes per annum of LNG or 1.7 billion cubic feet per day of natural gas.
Recommended Reading
Civitas Resources Not Looking to Acquire for Now
2023-11-10 - As Civitas Resources concentrates on integrating three acquisitions from this year, an analyst said the Colorado E&P’s assimilations are going “swimmingly.”
SilverBow Offers Shares to Fund $700MM Chesapeake Deal
2023-09-13 - SilverBow Resources is offering three million shares of its common stock to fund its pending acquisition of Chesapeake Energy Corp. ’s oil and gas assets in south Texas.
MLP Mach Resources’ IPO Gets Off to Solid Start
2023-10-25 - Led by Chesapeake Energy co-Founder Tom Ward, Anadarko Basin E&P Mach Resources is the second public offering by an MLP this year.
Private Equity Money is There - for the Right Teams
2023-11-19 - Private Equity executives agreed that the investment space is in a healthier state than at the height of the shale boom and funding is available for “really good teams.”
Troubled Tellurian Issues ‘Going Concern’ Warning Amid Losses
2023-11-07 - Tellurian Inc., which is still eyeing development of the Driftwood LNG export project in Louisiana, issued a frank warning to investors in its third quarter 2023 financial filing “about our ability to continue as a going concern.”