Perth-based Transborders Energy has signed a joint study agreement with Mitsui O.S.K. Lines (MOL) to further develop its floating LNG solution and pursue its deployment on a range of stranded offshore gas resource opportunities.
Transborders said on Monday that its FLNG solution provided a pre-determined 1.3 mtpa FLNG development concept with a package of streamlined commercial and regulatory approval framework, including LNG buyers, to gas resource owners.
The company’s chairman Jack Sato stated: “We are very pleased to welcome MOL as a strategic partner to our FLNG solution. In addition to Kyushu Electric Power Company in Japan, participation of MOL, a world-class major shipping line, will definitely underpin Transborders’ business model and strengthen the development of our venture.”
Through this JSA, Transborders will collaborate with MOL on conducting technical pre-FEED with partners TechnipFMC and Add Energy.
The duo will also pre-negotiate key commercial terms of the FLNG solution with existing study partner Kyushu Electric Power, TechnipFMC, and Add Energy, and pursue the deployment of the FLNG solution on stranded gas resource opportunities.
Upon completion of the Transborders’ FLNG solution development work at the end of 2019, Transborders said it would be in a position to convert a range of stranded gas resources into ‘project sanction (FID) ready’ state within 24 months after FLNG solution deployment, while also allowing LNG buyers access to competitive LNG supply sources.
It is worth noting that Transborders’ FLNG solution development work obtained a “Major Project” designation from the Australian Federal Government in March 2018.
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