Transborders signs FLNG solution JSA with MOL

Perth-based Transborders Energy (Transborders) has signed a joint study agreement with Mitsui O.S.K. Lines (MOL) to further develop the floating LNG solution and pursue its deployment on a range of stranded offshore gas resource opportunities.

Image courtesy of Transborders Energy

Transborders’ FLNG solution provides a pre-determined 1.3 mtpa FLNG development concept with a package of streamlined commercial and regulatory approval framework, including LNG buyers, to gas resource owners, the company said in its statement.

Through this JSA, Transborders will collaborate with MOL on conducting technical pre-FEED with partners TechnipFMC and Add Energy.

The pair will also work on pre-negotiating key commercial terms of the FLNG solution with existing/cornerstone study partner Kyushu Electric Power, TechnipFMC and Add Energy, and pursue the deployment of the FLNG solution on stranded gas resource opportunities.

Upon completion of the Transborders’ FLNG solution development work at the end of 2019, Transborders said it 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.

Transborders’ FLNG solution development work has obtained in March 2018 “Major Project” designation from the Australian Federal Government.