International Resources Holding (IRH), a UAE-based mining company, has signed a 20-year Heads of Agreement (HoA) with US-based Delfin LNG and energy trader Vitol for the purchase and sale of 1 Mt/year of LNG from Delfin’s LNG export project in the United States (Vitol press release, 05/11/2025).
Under the agreement, Delfin LNG will supply LNG on a free-on-board (FOB) basis to Vitol, which will act as the offtaker and deliver the volumes to IRH Global Trading (IRHGT), IRH’s global trading arm, over a 20-year period. Definitive agreements are expected to be finalized in the coming weeks, according to the statement.
- The Delfin LNG project will include three floating LNG (FLNG) vessels to be located in the US Gulf off the coast of Louisiana,
- The project will have a total capacity of 13.2 Mt/year.
Delfin LNG already has long-term delivery contracts with Vitol, Hartree Partners Power & Gas Company, Centrica LNG, Gunvor, and Expand Energy, according to filings with the U.S. Department of Energy (DoE). These contracts account for 3.3 Mt/year out of the 13.2 Mt/year total capacity for the three planned FLNG vessels. Delfin is actively negotiating with potential equity investors and lenders to support the Final Investment Decision (FID) for its FLNG vessels, which is expected by the end of 2025 (DoE filing, 01/10/2025).
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