MUFG Arranges $3.6 Billion Financing for 4.4 Mtpa Delfin FLNG 1 Vessel
MUFG•Mitsubishi UFJ Financial Group arranged $3.6 billion in debt financing—including $2.8 billion for the operating company and $800 million at the holding level—to fund Delfin LNG’s first U.S. floating liquefaction vessel. At 4.4 million tons annual capacity, Delfin FLNG 1 marks the world’s largest floating LNG facility by liquefaction output.
1. Financing Structure
MUFG served as Financial Advisor, Initial Coordinating Lead Arranger and Administrative Agent to structure and raise approximately $3.6 billion in debt financing. The package comprises $2.8 billion in operating company financing—split among a construction term loan, revolving credit facility and senior secured notes—and $800 million in holding company financing.
2. Project Overview
Delfin FLNG 1 is the first floating liquefaction facility in the U.S. and will produce 4.4 million tons of LNG per year, making it the largest floating LNG project globally. Construction and commissioning by Samsung Heavy Industries and Black & Veatch will span about five years, with output backed by long-term sales agreements and a sponsor consortium including Global Infrastructure Partners, Mitsui, Vitol and others.
3. Strategic Implications
The transaction highlights MUFG’s expertise in complex energy infrastructure financing and strengthens its relationship with Delfin and project stakeholders. Success on this landmark deal reinforces MUFG’s positioning in global energy capital markets and is expected to contribute meaningful fee income and future advisory opportunities.
