Three new U.S. LNG projects have reached a positive final investment decision (FID) this year: Venture Global’s CP2 Phase 2, Caturus’s Commonwealth LNG and now, most recently, Delfin Midstream’s Delfin LNG, which will be the U.S.’s first floating LNG (FLNG) project. These three FIDs are the tail end of the incredible wave of development that began in 2025, when six projects got the green light. Together, the 2025 and 2026 FIDs will add nearly 17 Bcf/d of LNG export capacity to the U.S. Gulf Coast, pushing the total to around 33 Bcf/d. In today’s RBN blog, we continue our look at this tsunami of development, focusing on Delfin LNG.
In Part 1, we looked at the latest round of sanctioned U.S. LNG project development, which began in April 2025 with a surprising FID on Woodside’s Louisiana LNG. At the time, the project had almost no commercial sales backing it, a divergence from how U.S. projects are typically developed. Following that, there were a number of more traditional FIDs from Cheniere Energy, Venture Global, Sempra and NextDecade. In May of this year, Caturus took FID on Commonwealth LNG, which will be the U.S.’s 14th LNG export terminal. The project will have six liquefaction trains for a total capacity of 9.5 million tons per annum (MMtpa; 1.3 Bcf/d), about 85% of which is secured by long-term offtake agreements.
Today, we turn our attention to Delfin LNG, which was given its official green light on June 3. Delfin LNG will be located about 40 nautical miles off the coast of Cameron Parish, LA, in the U.S. Gulf. Delfin LNG will include up to three independent FLNG vessels, each of which would be 4.4 MMtpa (0.6 Bcf/d). Only the first vessel, FLNG 1, has taken FID; development of the other two vessels is unlikely to move forward in the near term. The project is backed by long-term offtake agreements with Vitol, Expand Energy (formerly Chesapeake and Southwestern), Centrica and Gunvor Group (see Figure 1 below). The largest offtaker is Vitol, which is also an equity investor in the project. The project previously had an offtake agreement with Hartree Partners, but that was canceled in April, prior to the FID. In total, nearly 90% of FLNG 1’s capacity is secured in binding offtake agreements. In addition to Vitol, Global Infrastructure Partners (GIP, part of BlackRock), Mitsui O.S.K. Lines and Diameter Capital Partners have also invested in the project.
Figure 1. Delfin LNG Offtakers. Source: LNG Voyager
Crude Inventories Continue Decline as Refiners Ramp Up for Summer Demand
Based on data from the EIA’s Weekly Petroleum Status Report (WPSR), a decline in both imports and exports alongside an increase in refinery runs necessitated a draw in commercial crude inventories for the seventh consecutive week.
Join Backstage Pass to Read Full Article
About the song
“What’s Left” was written by Brad Arnold, Matt Roberts, Chris Henderson and Zac Maloy. It appears as the eighth song on 3 Doors Down’s fifth studio album, Time of My Life. The song is about ending a broken relationship and moving on. Released as a single in December 2011, it went to #23 on the Billboard Bubbling Under Hot 100 Singles chart. Personnel on the record were: Brad Arnold (lead vocals), Matt Roberts (lead guitar, backing vocals), Chris Henderson (rhythm guitar, backing vocals), Todd Harrell (bass), Greg Upchurch (drums) and Paul Franklin (pedal steel guitar).
Time of My Life was recorded from July to October 2010 at Bay 7 Studios in North Hollywood, Sparky Dark Studios in Calabasa, Capitol Studios in Hollywood, Mix LA in Los Angeles, and Rivergate Studios in Hendersonville, TN. Produced by Howard Benson, the album was released in July 2011 and went to #3 on the Billboard 200 Albums chart. Five singles were released from the LP.
3 Doors Down is an American rock band formed in Escatawpa, MS, in 1996 by Brad Arnold, Matt Roberts and Todd Harrell. Their 2000 debut single, “Kryptonite,” went to #3 on the Billboard Hot 100 Singles chart and helped launch the band’s career. Lead singer Brad Arnold said he wrote the song at 15 during a high school math class. They have released six studio albums, a compilation album, five EPs and 29 singles. They have sold more than 20 million records worldwide. They have won an American Music Award, six BMI Pop Awards, and two Billboard Awards. Nine members have passed through the band since its formation. Lead guitarist Matt Roberts died in Milwaukee in August 2016 at 38. Lead singer Brad Arnold died in Meridian, MS, in February 2026 at 47. The future of the band is uncertain at this time.
"About the Song" -- written by Mickey McMahan , RBN Director of Musicology
