US-based Delfin Midstream has announced a 15-year liquefied natural gas sales and purchase agreement with Vitol’s local subsidiary that could be worth $3 billion over the life of the contract.

The agreement with Vitol is for 500,000 tonnes per annum of LNG, which moves Delfin closer to its stated objective of 2 million to 2.5 million tpa of long-term contracts in order for a positive final investment decision on its first floating LNG vessel.

Delfin hopes to announce a decision by the end of the year.