Australian Transborders Energy said yesterday that its floating liquefied natural gas (FLNG) solution development has secured the major project status (MPS) renewal from the Australian government.
MPS is the Australian government’s recognition of the national significance of a project – for economic growth, employment or for regional Australia, said Transborders, which is offering ready-to-go 1.5 million tonne per year (t/y) FLNG facilities to monetise stranded gas fields.
Australia has granted MPS renewal on the basis that the project can contribute to the growth of the FLNG industry in Australia. The government considers this 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
Together with its strategic partners Kyushu Electric Power, Mitsui O.S.K. Lines, Ltd., Technip Energies, SBM Offshore and Add Energy, Transborders Energy 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, said the company.
Rather than developing a bespoke development solution per gas resource, Transborders Energy’s FLNG Solution provides 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.