LNG producer Delfin Midstream seeks investment for its US project — Bloomberg

According to experts familiar with Delfin Midstream's plans, the company is seeking investments to fund its liquefied natural gas (LNG) export project, which will use offshore infrastructure moored off the coast of Louisiana.

Delfin is exploring the possibility of selling its shares and debt securities at the project level. Bloomberg reports that Citigroup Inc. and Moelis & Co. are advising Delfin on the financing. The fund raising schedule is confidential.

The Delfin LNG project includes three floating LNG plants capable of producing up to 13.2 million tons of fuel per year.

Earlier this year, Delfin received a license from the US Department of Transportation to use a deepwater port in Louisiana. However, environmental organizations have filed a lawsuit against the department, demanding to revoke the license. Delfin has not yet made a final investment decision on the project.

The firm's clients include German state-owned energy company SEFE, British electricity producer Centrica Plc, and trading houses Gunvor Group, Hartree Partners and Vitol Group.

Potential investors are expected to show interest in the American company's project soon.