Perth-based Transborders Energy (Transborders) has entered into a joint study agreement with Kyushu Electric Power and its affiliate Kyushu Electric Australia.
The joint study parties will work together to develop a floating LNG (FLNG) solution and pursue the deployment on a range of stranded offshore gas resource opportunities.
Transborders’ FLNG solution is a pre-determined FLNG and wells tie-back development concept with a package of streamlined commercial and regulatory approval frameworks, the company said in a statement.
Transborders’ chairman Jack Sato says, “Transborders’ goal is to unlock stranded gas resources, develop a new LNG supply source, and offer alternative LNG solutions.”
Through this joint study agreement, Transborders will collaborate with Kyushu to perform three key activities, namely a technical pre-FEED with strategic partners TechnipFMC and Add Energy, pre-negotiation of key commercial terms of the FLNG solution and the deployment of the FLNG solution on stranded gas resource opportunities.
Based on this joint study agreement, Transborders has executed relevant agreements with TechnipFMC and Add Energy to commence the technical pre-FEED work. MODEC Management Services plans to give support to the pre-FEED work as an operational advisor.
Upon completion of the Transborders’ FLNG solution development work in 2019, Transborders will 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, the statement reads.