Transborders Energy Pty Ltd (Transborders) is pleased to announce it has signed a Joint Study Agreement with a major Asian LNG Buyer to work together on the development of Transborders’ Generic Floating LNG (FLNG) Solution.
The Joint Study allows Transborders to enhance the technical and commercial deploy-ability of Transborders’ Generic FLNG Solution for a range of discovered but stranded gas resources.
Specifically, it provides for the parties to work together to enhance the technical and commercial definition of the Generic FLNG Solution and consists of
- Completing a “Generic“ FLNG technical Pre-Front End Engineering and Design (Pre-FEED) that caters to a range of discovered but stranded gas resources
- Completing negotiation of key terms of major agreements for underpinning the reserve booking as well as facilitating project sanction (FID).
The involvement of a major Asian LNG Buyer in developing Transborders' Generic FLNG Solution provides significant credibility and the potential for bankability of the future deployment of the Solution.
It is anticipated that the Joint Study will be completed by early 2019 and provide a sufficiently mature product to be marketed to resource owners for the development of their resource.
Managing Director, Mr Daein Cha, stated:
“We are very pleased to sign this Joint Study Agreement as a key milestone for the business. The support of a major Asian LNG Buyer is fundamental to the development of Transborders’ Generic FLNG Solution”.
About Transborders Energy (Transborders)
Transborders generates step changes in industry value creation by deploying a predetermined, low-cost Generic Floating LNG (FLNG) Solution to accelerate monetisation of a range of discovered but stranded gas resources.
Transborders’ Generic FLNG Solution delivers a ~1.2 million tons per annum FLNG vessel with a package of streamlined processes and commercial agreements, as well the facilitation of regulatory approvals that underpin the conversion of discovered but stranded gas resources to commercially viable reserves and subsequently project sanction (Final Investment Decision).
Transborders is working with its partners Add Energy and TechnipFMC, its technical advisor MODEC and a major Asian LNG Buyer to progress the development of the project.