Houston-based Delfin LNG LLC has signed an agreement to provide BTG Pactual Commodities with all of the natural gas liquefaction from Delfin’s first floating liquefaction vessel at a proposed facility 50 miles off the coast of Cameron Parish.

The memorandum of understanding is the first stage of a formal contractual arrangement. The agreement gives BTG the option to buy additional production from Delfin as it adds floating liquefaction vessels. Delfin LNG President Frederick Jones said the agreement is an important milestone.

“We are very pleased to be signing this MOU with BTG Pactual Commodities as our anchor long-term customer,” Jones said.

Delfin’s planned deepwater LNG project would be capable of exporting 657.5 billion cubic feet of natural gas per year.