Delfin LNG LLC has signed a memorandum of understanding (MOU) with BTG Pactual Commodities for all of the liquefaction capacity of the first vessel planned for its proposed deepwater liquefied natural gas (LNG) port in the U.S. Gulf of Mexico (GOM), 50 miles offshore of Cameron Parish, LA.

The Delfin LNG Deepwater Port Project would be a floating liquefaction and export facility at West Cameron Block 167. The tolling facility would consist of onshore gas compression facilities, a 42-inch diameter pipeline to transport natural gas offshore, and a deepwater port with four moorings and four floating liquefaction vessels. It would be constructed in phases and would have ultimate LNG sendout capacity of 13 million tonnes per annum.

In February 2014, Delfin LNG received U.S. Department of Energy (DOE) approval to export up to 657.5 Bcf per year of LNG to free trade agreement (FTA) countries. The company is seeking authorization to export to non-FTA countries.

The MOU makes BTG Pactual, an investment bank based in Brazil, the project’s anchor customer, and it has the option to expand its tolling arrangement to include liquefaction capacity of additional vessels under development by Delfin LNG. The amount of the current capacity agreement was not disclosed.

Delfin LNG recently signed a joint development agreement with Hoegh LNG Ltd. for the project. According to DOE’s FTA exportorder, the first train of the project is expected to be online in 2017 and the second in 2018. The company said it expects its project to be the first floating liquefaction facility in the GOM.