Fairwood Peninsula Energy Corp ("Fairwood LNG”), the parent company and 100%-owner of Delfin LNG LLC (“Delfin LNG”), announced a strategic alliance with Enbridge, Inc. (“Enbridge”), in which Enbridge has purchased an equity position in Fairwood LNG. Enbridge has made a five percent equity investment in Fairwood LNG. Enbridge has also entered into a Joint Development Agreement with Fairwood LNG to assist in the development of offshore liquefied natural gas facilities in the Gulf of Mexico.
Frederick Jones, the Chief Executive Officer of Fairwood LNG and Founder of Delfin LNG, said, “Enbridge is a world-class company with a long and admirable history in the North American midstream energy sector. We are thrilled to be establishing this alliance, which we believe provides a strong platform for future growth. We look forward to a long-term relationship with Enbridge.”
Dave Weathers, Vice-President of Development, Enbridge U.S. Midstream, said, “We are pleased to make this investment. As part of the development agreement, we will bring our expertise to the table regarding pipeline project management, pipeline operations and sourcing gas to facilities.” As a result of the equity position, Enbridge will hold one of the seven board of director seats.
Fairwood Peninsula Energy Corp is a midstream LNG company focused on providing critical infrastructure for the floating liquefaction industry.
Delfin LNG LLC is currently developing Port Delfin, a floating liquefaction and export facility to be located in the Gulf of Mexico. As planned, Port Delfin consists of onshore gas compression facilities and a deepwater port that uses existing pipeline infrastructure in the Gulf of Mexico to transport natural gas offshore to four moored floating liquefaction vessels. Delfin has submitted an application to MARAD and the USCG for authorization to construct, own and operate a deepwater port capable of exporting 443.3 Bscf/y of natural gas or 9.2 MMtpa of LNG. Delfin signed a Joint Development Agreement with Höegh LNG Ltd (Oslo Børs: HLNG) in relation to the Project.