Delfin Midstream Partners With EIG’s MidOcean Energy to Advance Second FLNG Vessel; Issues Limited Notice to Proceed to Siemens Energy

MidOcean Energy Enters Into Agreements to Acquire Up to a 50% Interest in the Delfin FLNG2 Project, Subject to Final Investment Decision

HOUSTON, July 15, 2026 (GLOBE NEWSWIRE) -- Delfin Midstream Inc. (“Delfin”) today announced that it has issued a Limited Notice to Proceed ("LNTP") to Siemens Energy, Inc. ("Siemens Energy") for the procurement of long lead equipment — including four SGT-750 gas turbines and mixed-refrigerant compressors — in connection with Delfin's second floating LNG production vessel ("FLNG2"), to be located offshore Louisiana. The LNTP represents a key pre-final investment decision ("FID") milestone as the parties continue advancing the project toward a targeted FID by year-end 2026.

In parallel with the LNTP, Delfin and MidOcean Energy ("MidOcean"), an LNG company formed and managed by EIG, have entered into an agreement pursuant to which MidOcean can acquire up to a 50% equity interest in FLNG2 and receive a corresponding share of LNG production, subject to a positive FID and the satisfaction of customary conditions precedent. The FLNG2 vessel will leverage the established design of Delfin's FLNG1 vessel, which reached FID on June 3, 2026, and is currently in execution, providing significant schedule and cost certainty.

Delfin and MidOcean are also collaborating on future pre-development activities to accelerate a potential third floating LNG vessel ("FLNG3") following FLNG2, reflecting the parties’ shared commitment to expanding Gulf Coast LNG supply to meet growing global demand.

Dudley Poston, Delfin CEO, said: "This milestone underscores the commercial readiness of our floating LNG platform, and is another significant step towards global energy security rapidly following a positive FID for Delfin’s FLNG1. Securing manufacturing slots for critical long lead equipment with Siemens Energy is an important advancement in de-risking the project schedule as we work toward FID for the second vessel. We are pleased to partner with MidOcean, whose deep LNG expertise and financial capabilities make them an ideal partner for FLNG2 and beyond."

De la Rey Venter, CEO of MidOcean Energy, said: "The issuance of LNTP to Siemens Energy is a tangible demonstration of the momentum behind the FLNG2 project and the strength of our partnership with Delfin. MidOcean's potential participation in FLNG2 is consistent with our strategy to build a diversified, cost-competitive global LNG portfolio. The project's repeat-design approach offers an attractive risk-return profile and meaningful execution advantages for all project stakeholders. We look forward to continue working with Delfin toward a final FLNG2 investment decision and to exploring further growth opportunities together, including the acceleration of FLNG3."

Project Overview

FLNG2 will leverage the same design used for FLNG1, with an expected nameplate capacity of 4.4 mtpa, utilizing Siemens Energy SGT-750 gas turbines and mixed-refrigerant compression technology. The vessel will be moored offshore Louisiana in the Gulf of America and will connect to existing offshore pipeline infrastructure at the Delfin Deepwater Port, benefiting from the broader port build-out already underway as part of a phased multi-vessel development. The repeat-design approach is expected to reduce execution risk and compress the construction timeline. Upon reaching a positive FID, the project would progress to a Full Notice to Proceed ("FNTP") and the broader engineering, procurement, and construction contractor scope.

About Delfin

Delfin is a leader in LNG export infrastructure utilizing low-cost floating LNG technology. Delfin is the parent company of Delfin LNG, which received a deepwater port license from the U.S. Department of Transportation Maritime Administration and approval from the U.S. Department of Energy to export up to 13.2 million tonnes of LNG annually. In June 2026, the first FLNG vessel of the Delfin LNG project passed Final Investment Decision, with LNG production expected to begin in 2030. Supporting America’s energy and maritime dominance, Delfin’s floating LNG project is not only the first deepwater port LNG export project in the United States, but also the largest of its kind in the world. Additional information is available at www.delfinmidstream.com.

About EIG

EIG is a leading institutional investor in the global energy and infrastructure sectors with $25.9 billion in assets under management as of March 31, 2026. EIG specializes in private investments in energy and energy-related infrastructure on a global basis. During its 44-year history, EIG has committed $53.9 billion to the energy sector through 426 projects or companies in 44 countries on six continents. EIG's clients include many of the leading pension plans, insurance companies, endowments, foundations, and sovereign wealth funds in the U.S., Asia, and Europe. EIG is headquartered in Washington, D.C. with offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong, and Seoul. For additional information, please visit www.eigpartners.com.

About MidOcean Energy

MidOcean Energy, an LNG company formed and managed by EIG, seeks to build a diversified, resilient, cost- and carbon-competitive global LNG portfolio. It reflects EIG’s belief in LNG as a critical element of a lower carbon, competitive and more secure global energy system. MidOcean Energy has diverse LNG interests, including in Gorgon LNG, Pluto LNG, QCLNG, LNG Canada and Peru LNG. The company is headed by De la Rey Venter, a 27-year industry veteran who has held a variety of senior executive roles, including Global Head of LNG for Shell Plc. For additional information, please visit www.midoceanenergy.com.

Contact Information

Delfin

Dan Gagnier
Gagnier Communications
Delfin@gagnierfc.com

EIG / MidOcean Energy

FGS Global
Kelly Kimberly / Brandon Messina
+1 212-687-8080
EIG@fgsglobal.com

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