Australia's Transborders Energy, a company working to develop an FLNG solution for marginal field developments, said Thursday that its FLNG Solution development had secured the Major Project Status (MPS) renewal from the Australian Commonwealth Government.
Major Project Status is the Australian Commonwealth Government’s recognition of the national significance of a project – for economic growth, employment, or for regional Australia.
Christian Porter, Minister for Industry, Science and Technology has granted MPS renewal on the basis that the project can contribute to the growth of the FLNG industry in Australia.
Transborders describes its FLNG solutions as "a pre-engineered 1.5 million tonne per annum FLNG facility 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."
According to a statement by Transborders, Minister Porter considers its FLNG solution to be a significant project because of the potential to encourage LNG exports and future project development, which offers an opportunity to grow and diversify the Australian economy and contribute to the economic development of regional Western Australia and the Northern Territory.
"This renewal is a demonstration of the government’s commitment to project," the Perth-based company said.
Transborders Energy Chairman, Jack Sato, stated: "We are very pleased to be re-awarded the MPS grant. It clearly indicates the Australian Government’s ongoing support for our FLNG Solution development. We will continue progressing our development with a view to offer sustainable and affordable energy during the transition towards a carbon-free environment, as well as to provide job opportunity and growth in Australia.”
Transborders has said that, together with its strategic partners, it can 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.
The company's strategic partners are Kyushu Electric Power, Mitsui O.S.K. Lines, Ltd., Technip Energies, SBM Offshore and Add Energy.