Transborders Energy (Transborders) Managing Director, Daein Cha, presented at the FLNG World Congress 2019 (Singapore) on the topic of “Developing Standardised Small-Scale FLNGs to Monetise Stranded Gas Resources.”
Daein presented that, “while there is expected to be additional LNG demand to be met by 2030 via new projects, there is a very large amount of newly proposed LNG projects, many targeting mid-2020s to bring online. Competition for LNG demand is intense.”
In this context, Daein stated that the key to successfully enabling FLNG projects are to:
Offer cost-competitive and different LNG supply proposition that would attract LNG buyer support for underpinning bankability, while also balancing the profitability needs of the gas resource owner and other stakeholders. We do this by keeping our cost structure low, and by introducing new commercial structures and partnerships to enable our FLNG projects.
Carefully and consciously address key FLNG design decisions that strike the right balance of standardization and pre-investment. These design decisions are key factors for determining the risks and returns associated with the residual value of the FLNG post its first deployment (assuming that the design life of the FLNG would allow for subsequent deployment.)
Transborders is currently conducting Pre-FEED work and pre-negotiation of key commercial terms for its FLNG Solution. By the end of 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 the FLNG Solution deployment, while also allowing LNG buyers access to competitive LNG supply sources.
Transborders co-develops and deploys its FLNG Solution with its strategic partners Kyushu Electric Power, Mitsui OSK Lines, other world class LNG buyers, TechnipFMC and Add Energy.
Transborders’ FLNG Solution development work is also designated as a “Major Project” from the Australian Federal Government.
The FLNG World Congress brought together key stakeholders across the floating liquefaction value chain – global oil and gas companies, LNG offtakers, shipyards, EPCs, financiers, legal advisors, equipment and solution providers – for the latest FLNG market intelligence and highlight of lessons learnt from FLNG project development, EPC and operations.
For further details please contact Daein Cha at +61 (0)8 6145 1100 or inquiry@transbordersenergy.com