Delfin Midstream Inc. has finalized an investment agreement with shipping giant Mitsui O.S.K. Lines Ltd. (MOL) for its Delfin LNG export project ahead of a possible final investment decision (FID) later this year.

Delfin disclosed MOL has agreed to take an undisclosed stake in the proposed Louisiana offshore liquefied natural gas project and will be adding a representative to the firm’s board of directors. The deal doesn’t include an offtake agreement at this point, a Delfin spokesperson told NGI, but contains a framework for MOL to directly invest in Delfin’s vessels at a later date.

CEO Dudley Posten said the MOL investment provides funding that will “accelerate” its progress toward FID, and provides a framework for the two companies to collaborate on construction...