PSV Industries Blog
Weekly intelligence on the projects, trends, and market forces shaping American industrial construction, from LNG and petrochemical to data centers and beyond.
MUFG Closes $3.6 Billion Delfin FLNG 1 Financing, Applied Digital Signs $5.2 Billion AI Factory Lease, and Meta Commits $115 Million to Train the Data Center Workforce
MUFG closes $3.6 billion in senior secured non recourse project financing for Delfin Midstream's first floating LNG vessel, the largest single project financing in the FLNG sector to date. Applied Digital signs a 15 year, 210 MW take or pay lease at Delta Forge 2 worth $5.2 billion in base term contracted revenue, lifting its contracted portfolio to 1.4 GW and roughly $36 billion across five AI Factory campuses. Meta and Associated Builders and Contractors launch America's Workforce Academy, a $115 million program with guaranteed job placement training data center construction craft. ExxonMobil's Mozambique Rovuma LNG advances toward a Q3 2026 FID. And industry data confirms power transformer lead times now stretch three to four years, making shop based modular execution the only viable path on schedule sensitive industrial projects.
Read Full ReportDelfin Takes FID on the World's Largest FLNG, May Payrolls Beat at 172,000, and the WSJ Confirms 60 Percent of 2027 Data Center Capacity Is Not Yet in Construction
Delfin Midstream takes FID on Delfin FLNG 1, the first floating LNG vessel in the United States and the largest FLNG project in the world, with $5 billion committed and Samsung Heavy Industries plus Black and Veatch awarded the build. The May jobs report beats expectations at 172,000 with unemployment holding at 4.3 percent. JOLTS shows construction job openings at 259,000 in April, up 25 percent year over year. The Wall Street Journal and JPMorgan put a clean number on the data center execution gap at more than 60 percent of 2027 capacity still not under construction. CloudBurst breaks ground on 1.2 GW in Texas, Applied Digital plans $3.6 billion Delta Forge 1 in Louisiana, and Nvidia partners with IREN on 5 GW anchored at Sweetwater. Cheniere Corpus Christi posts a 33 percent first quarter LNG shipment surge as Stage 3 ramps. And the Gulf Coast holds $141 billion in active power and energy construction as hurricane season opens.
Read Full ReportCB&I Wins Commonwealth LNG Tanks Award, Kinder Morgan Trident Pipeline Hits Active Construction, and Hyperscaler 2026 Capex Tracks Toward $600 Billion
CB&I lands a lump sum award from Technip Energies for five 50,000 cubic meter full containment LNG storage tanks at the Caturus Commonwealth LNG facility in Cameron, Louisiana. Kinder Morgan moves its Trident Pipeline into active construction in Southeast Texas. Ksi Lisims LNG signs Canada's first long term European supply deal with Germany's SEFE for 1 MTPA over 20 years. Top five US hyperscalers project $600 billion in 2026 infrastructure spend, up 36 percent year over year, with US data center construction running at $45 billion monthly. MS Amlin warns that $670 billion in planned US data center builds sit in severe convective storm zones. And NABTU reframes the labor debate as a workforce planning crisis rather than a worker availability problem.
Read Full ReportAlaska LNG Phase One Clears Final Gas Supply Hurdle, NextEra to Acquire Dominion in $66.8 Billion AI Power Merger, and Houston Leads US Metros with 10,600 New Construction Jobs
Glenfarne Alaska LNG signs the final North Slope gas sales precedent agreement with ConocoPhillips, clearing the path to Phase One FID on the 20 MTPA project and the 739 mile pipeline that supports it. NextEra Energy announces a $66.8 billion all stock acquisition of Dominion Energy, the largest US utility merger in history, driven by 51 GW of contracted data center demand in Virginia. AGC reports Houston added 10,600 construction jobs over the year, the strongest US metro performance, with Baton Rouge up 10 percent. ABC pegs the national March construction unemployment rate at 6.7 percent. Energy Transfer quietly withdraws the air permit on its $1.8 billion Nederland ethane cracker. And AMECO opens a new Baton Rouge facility to expand Gulf Coast construction services.
Read Full ReportCommonwealth LNG Takes Final Investment Decision, Cheniere Raises Full Year Guidance, and TSMC Tops Out Its Third Arizona Fab
Caturus closes $9.75 billion in project financing and reaches FID on the 9.5 MTPA Commonwealth LNG facility in Cameron Parish, Louisiana. Cheniere raises 2026 EBITDA guidance to $7.25 to $7.75 billion on a record $5.87 billion Q1. Venture Global ships a record 130 cargos and closes $8.6 billion in CP2 Phase 2 financing. TSMC tops out its third Arizona fab and brings the second fab to pilot production six months ahead of schedule. Wood Mackenzie projects US data center electrical equipment demand to triple to $65 billion by 2030. And the AIA Architecture Billings Index posts its strongest reading since early 2023.
Read Full ReportExxonMobil and Chevron Post Q1 Results, Marathon Books a $1.4B Refining Quarter, and Phillips 66 Expands Sweeny and Freeport Capacity
ExxonMobil delivers $4.2 billion in Q1 earnings on record Energy Products performance, with Golden Pass Train 1 online. Chevron posts $2.21 billion as Hess production flows in. Marathon Petroleum books a $1.4 billion R&M quarter and completes 40 percent of its 2026 turnarounds. Phillips 66 formalizes 23 percent and 15 percent capacity expansions at Sweeny and Freeport. Joliet $20 billion data center campus approved. And nonresidential building starts are up roughly 80 percent year over year.
Read Full ReportO'Leary's 9 GW Utah Data Center Approved, Valero Posts $1.3B Q1 Profit, and Megaprojects Surge 500% Year to Date
Kevin O'Leary's 9 gigawatt Stratos data center campus is approved in Utah. Valero swings to a $1.3 billion Q1 profit on a 56 percent refining margin surge. Cheniere brings Corpus Christi Stage 3 Train 3 to substantial completion. Commonwealth LNG launches financing at 63 percent contracted. Sightline Climate confirms only 5 of 16 gigawatts of announced 2026 data centers are actually under construction. And megaprojects are up over 500 percent year to date.
Read Full ReportGolden Pass Ships First Cargo to Italy, Commonwealth LNG Advances Toward FID, and Microsoft's Fairwater Opens in Wisconsin
Golden Pass LNG ships its historic first cargo on April 22, becoming the 10th U.S. export terminal. Technip Energies receives a substantial authorization on Commonwealth LNG ahead of FID. Microsoft's $3.3 billion Fairwater AI data center opens in Wisconsin. Gulf Coast refining margins hit their highest since 2022. And U.S. construction employment climbs to 8.33 million with 349,000 workers still needed.
Read Full ReportGolden Pass Nears First Export Cargo, U.S. LNG Capacity Set to Double, and Amazon Commits $25B to Mississippi
Golden Pass LNG approaches its first export cargo with feedgas at 434 mmcf/d. U.S. LNG capacity on track to nearly double to 28.7 Bcf/d by 2029. Amazon commits $25 billion to Mississippi data centers. Aligned breaks ground on a 540 MW Texas campus. And the Gulf Coast emerges as the center of a national fabrication renaissance.
Read Full ReportGolden Pass Produces First LNG, Commonwealth LNG Nears $12.5B FID, and Half of 2026 Data Centers Hit Delays
Golden Pass LNG achieves first production from Train 1 at Sabine Pass. Commonwealth LNG advances toward a $12.5 billion FID in Cameron Parish. Half of planned 2026 data centers face supply chain delays. Construction adds 26,000 jobs in March. And 165 new industrial projects top $8.6 billion.
Read Full ReportFirst Gulf Coast Refinery in 50 Years, Rio Grande LNG Expands, and 50% Steel Tariffs Reshape the Market
America First Refining announces a new refinery at Port of Brownsville. FERC clears Rio Grande LNG Trains 4 and 5. Steel tariffs at 50% drive a 7.1% surge in construction input prices. Joliet approves a 795 acre data center. And the Strait of Hormuz crisis accelerates U.S. LNG investment.
Read Full ReportGolden Pass Ramps Up, Venture Global Greenlights CP2 Phase 2, and a Record $25.2 Billion Month for Data Centers
Golden Pass LNG nears first production in Southeast Texas. Venture Global takes FID on CP2 Phase 2 in Louisiana. Data center starts hit $25.2 billion in a single month. And Texas stacks $142 billion in concurrent mega projects.
Read Full ReportData Centers Overtake Offices, Plaquemines LNG Expands, and the Gulf Coast Gears Up for 2026
Data center construction spending surpasses office buildings for the first time. The DOE approves a 13% export increase at Plaquemines LNG. Houston anchors $15 billion in active projects. And the industry needs 456,000 new workers by 2027.
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