Delfin Midstream Signs Long-Term LNG Supply Agreement with Gunvor

Agreement is the latest in a series of long-term LNG supply and purchase agreements from the Delfin Deepwater Port LNG Export Facility

HOUSTON, Nov. 27, 2023 (GLOBE NEWSWIRE) — Delfin Midstream Inc. (“Delfin” or the “Company”) and Gunvor Group Ltd announced today that Gunvor Singapore Pte Ltd (“Gunvor”) has entered into long-term LNG Sale and Purchase Agreement (“SPA”) with Delfin LNG LLC (“Delfin LNG”), a subsidiary of Delfin.

Under the SPA, Delfin LNG will supply between 0.5 to 1.0 million tonnes of LNG per annum to Gunvor on a free-on-board (“FOB”) basis at the Delfin Deepwater Port, located 40 nautical miles off the coast of Louisiana for a minimum duration of 15 years.

Kalpesh Patel, Co-Head of LNG Trading of Gunvor said:

“We continue to support US LNG projects and unlock new sources to meet the growing global LNG demand while further expanding our supply portfolio. We look forward to a successful, long-term relationship with the Delfin LNG team as their project continues to progress.”

Dudley Poston, CEO of Delfin said:

“We are very pleased to have entered into a major long-term LNG supply agreement with Gunvor. This latest sale and purchase agreement further demonstrates our attractiveness as a long-term source of scalable, reliable, and clean LNG.”

Delfin has successfully been developing the Delfin LNG Deepwater Port project, which can support four FLNG vessels with a combined export capacity of up to 13.3 million tons per annum (“MTPA”). The Company has secured commercial agreements for LNG sales and liquefaction services and is in the final phase towards FID on its first three FLNG vessels.

About Delfin

Delfin is a leading LNG export infrastructure development company utilizing low-cost Floating LNG technology solutions. Delfin is the parent company of Delfin LNG and Avocet LNG LLC. Delfin LNG is a brownfield Deepwater Port requiring minimal additional infrastructure investment to support up to four FLNG Vessels producing up to 13.3 MTPA of LNG. Delfin purchased the UTOS pipeline, the largest natural gas pipeline in the Gulf of Mexico. Delfin LNG received a positive Record of Decision from MARAD and 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. Further information is available at www.delfinmidstream.com.

About Gunvor Group

Gunvor Group is one of the world’s largest independent commodities trading houses by turnover, creating logistics solutions that safely and efficiently move physical energy from where it is sourced and stored to where it is demanded most. With strategic investments in energy infrastructure—refineries, pipelines, storage and terminals —Gunvor further generates sustainable value across the global supply chain for its customers. In 2022, Gunvor Group generated US $150 billion in revenue on 165 million metric tons of turnover. The Group’s main trading offices are in Geneva, Singapore, Houston, Stamford, Calgary, Dubai, and London, with a network of more than 20 representative and other trading offices around the globe. More information can be found at GunvorGroup.com or @Gunvor.

Delfin Media Contact:
Dan Gagnier
Gagnier Communications
delfin@gagnierfc.com
+1 646-569-5897

Gunvor Media Contact:
Seth Thomas Pietras
Corporate Affairs Director
stp@gunvorgroup.com
+41 79 870 6290