Transborders Energy Managing Director, Daein Cha, presented on Thursday 14 October 2021 at the LNGgc 2021 (Virtual) “Step Towards a Carbon Neutral LNG Value Chain” Conference on the topic of “Fireside Chat: Let’s not forget FLNG, what will it take to make it happen?”
William Breckenridge (Vice President – Director of FLNG Business, Black & Veatch), Daein Cha, Managing Director, Transborders Energy, Maria Chang (Asset Engineering Manager Infrastructure, Exmar), moderated by Mike Fulwood (Senior Research Fellow, The Oxford Institute for Energy Studies)
Through a panel discussion among industry veterans, Daein presented that, “we promote a new commercial structure by having the blue-chip LNG buyers lease the FLNG. This enables FLNG projects without entirely relying on the gas resource owner’s balance sheet.
“Similar to how some US onshore LNG projects are enabled by LNG buyer procuring feed gas from the grid and entering into tolling arrangements with the liquefaction facility owners to produce LNG, Transborders Energy structures its FLNG Solution* project by:
Resource owners developing the upstream scope (development wells and production system to produce hydrocarbons to the LNG / FLNG facility), and entering into a feed gas sales agreement with the LNG buyers, with the feed gas delivery point being at the FLNG facility; and
The LNG buyers will enter into a liquefaction tolling agreement with the owners of the FLNG facility.
Transborders Energy’s also brings its world class partners Kyushu Electric Power and Mitsui OSK Lines as potential equity investor in the FLNG facility and as potential offtaker, Technip Energies as EPCI contractor for the FLNG facility, and SBM Offshore as the EPC contractor for the turret mooring system and hull scopes of the FLNG facility and as the operation and maintenance service provider for the FLNG facility.”
*Rather than developing a bespoke development solution per gas resource, Transborders Energy’s FLNG Solution provides a pre-engineered one point five (1.5) million tonne per annum FLNG facility (image below) with a package of streamlined and pre-agreed commercial arrangements and a robust regulatory approval execution plan that can be applied to a range of stranded offshore gas resource opportunities.
For further details please contact Daein Cha at +61 (0)8 6145 1100 or inquiry@transbordersenergy.com.