KB Kookmin Bank joins U.S. Delfin in floating LNG project financing

SEOUL, June 4 (UPI) -- South Korea's KB Kookmin Bank said Thursday it participated in financing for the Delfin floating liquefied natural gas development project in the United States.

The Seoul-based lender noted that it arranged about $160 million for the Delfin FLNG project, the first commercial floating LNG facility to be developed offshore in the United States.

Global financing giants, including Citigroup, headed the financing, which totaled about $2.7 billion, according to KB Kookmin.

The initiative is located in the Gulf of Mexico, one of the most important hubs for U.S. natural gas production and transportation infrastructure. Industry watchers expect it to strengthen the resilience of the nation's energy supply network.

South Korea's shipbuilders are also playing a significant role in the development. For example, Samsung Heavy Industries previously secured a contract from Delfin Midstream to construct the FLNG facility.

"The Delfin Project is a landmark transaction that elevates cooperation between South Korea and the United States across trade, energy, and shipbuilding to the next level," KB Kookmin Executive Vice President Lee Won-jong said in a statement.

"It is particularly meaningful that our global investment banking capabilities, built through overseas credit review operations and the deployment of investment banking specialists abroad, have come to fruition," he added.

KB Kookmin is not publicly listed. The share price of its parent company, KB Financial Group, rose 4.85% on the Seoul bourse Thursday.

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This story was originally published June 4, 2026 at 10:43 AM.