Australia's Transborders Energy announce it has entered into a Joint Study Agreement with Japanese utility Kyushu Electric Power Co., Inc. and its affiliate Kyushu Electric Australia Pty Ltd (Kyushu).
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.
Transborders’ Chairman Jack Sato says, “Transborders’ goal is to unlock stranded gas resources, develop a new LNG supply source, and offer alternative LNG solutions. Participation by major Japanese utilities as strategic partners, such as Kyushu, in the Joint Study endorse and add significant value to our FLNG Solution.”
Through this Joint Study Agreement, Transborders will collaborate with Kyushu to perform three key activities: Conduct technical Pre-FEED with Transborders’ strategic partners TechnipFMC and Add Energy; Pre-negotiate key commercial terms of the FLNG Solution; and pursue 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 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 sources.