- IRH Global Trading signs a 20-year Heads of Agreement (HoA) for the purchase and sale of LNG from Delfin’s U.S. export facility.
- Delfin to supply LNG on a free-on-board (FOB) basis to Vitol, which will then deliver to IRH Global Trading under a long-term sale and purchase arrangement.
- The agreement marks the largest transaction to date for IRH’s energy trading desk.
- Strengthens ePointZero’s integrated energy strategy and supports downstream operations across its ecosystem
International Resources Holding RSC Ltd. (IRH), a leading mine-to-market platform and subsidiary of ePointZero, has signed a 20-year Heads of Agreement (HoA) with Delfin LNG LLC (Delfin) and Vitol Inc. (Vitol) for the purchase and sale of 1.0 million tonnes per annum (MTPA) of liquefied natural gas (LNG) from Delfin’s export facility in the United States.
Under the agreement, Delfin LNG, a leading U.S.-based export infrastructure company, will supply LNG on a free-on-board (FOB) basis to Vitol, one of the world’s largest independent energy traders, which will act as the offtaker and deliver the volumes to IRH Global Trading (IRHGT), IRH’s global trading arm, for a period of 20 years. Definitive agreements are expected to be concluded in the coming weeks.
This long-term partnership represents a major step in IRH’s energy expansion strategy under ePointZero, a diversified investment platform focused on sustainable energy, technology, and resources. By leveraging synergies across the ePointZero ecosystem, IRH aims to build a fully integrated energy and commodities platform that enhances the resilience of supply chains and supports the global energy transition.
Ali Rashed AlRashdi, CEO of IRH, said: “This transaction is a major milestone in the development of IRHGT’s global LNG portfolio. We are pleased to collaborate with Delfin and Vitol to help bring the project to Final Investment Decision soon. As part of our vision to build an integrated global trading platform headquartered in Abu Dhabi, IRHGT is actively expanding its presence across physical and financial markets in natural gas, power, crude oil, refined products, metals, and equities. This agreement sets us on the path to be a reliable supplier of LNG to our valued clients worldwide.”
Mohamed Hesham, CEO of ePointZero, commented: “This agreement represents another step forward in building an integrated, future-ready energy platform. By securing reliable resources through long-term partnerships, we secure the downstream operations of ePointZero Group and ensure energy resilience for our ecosystem. This collaboration reinforces our commitment to delivering diversified, efficient, and reliable energy solutions that power economies and communities across regions.”
Dudley Poston, CEO of Delfin, added: “It’s an honor to have been selected by IRHGT and Vitol as a long-term liquefied natural gas supplier, and we look forward to working together as we make Final Investment Decision on the first FLNG Vessel in the coming weeks. We are pleased to continue our very strong relationship with Vitol and add another world-class trading organization such as IRHGT to our growing list of strategic partners.”
Pablo Galante Escobar, Global Head of LNG and European Gas & Power at Vitol, highlighted: “We are excited to conclude this agreement with IRHGT and Delfin. Vitol continues to strengthen its position to safely and reliably deliver cost effective, flexible LNG solutions to our customers around the world and we look forward to continuing to expand on our relationship with both IRHGT and Delfin. Vitol’s offtake commitments and investment grade rating will help Delfin on its path to financial close.”
The agreement also follows other strategic initiatives, including IRH’s acquisition of a 56% stake in Alphamin Resources for AED 1.35 billion, one of the world’s largest and highest-grade tin producers; a Memorandum of Understanding signed in May with ePointZero to decarbonise global mining operations through a joint task force; and a September agreement with the Egyptian General Petroleum Corporation (EGPC) and the Egyptian Mineral Resources & Mining Industries Authority. Together, these initiatives highlight IRH’s growing role in advancing sustainable resource development, expanding its trading capabilities, and strengthening global energy connectivity.