Australian oil and gas services company Transborders Energy has secured the Major Project Status (MPS) renewal from the Australian government for its floating liquefied natural gas (FLNG) solution.
Major Project Status (MPS) is the Australian government’s recognition of the national significance of a project for economic growth.
Transborders’ FLNG Solution provides a pre-engineered 1.5 million tonne per annum FLNG facility with a package of commercial arrangements and a regulatory approval execution plan that can be applied to a range of stranded offshore gas resource opportunities.
The company claims it can convert a range of stranded gas resources into a ‘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 Energy’s MPS renewal was granted on the basis that the project can contribute to the growth of the FLNG industry in Australia.
The FLNG Solution is seen as having the potential to encourage LNG exports and future project development, which offers an opportunity to grow and diversify the Australian economy and contribute to economic development.
Transborders’ strategic partners include Kyushu Electric Power, Mitsui O.S.K. Lines, Technip Energies, SBM Offshore and Add Energy.