Transborders Energy pursues FLNG proposal

Perth-based oil and gas services company Transborders Energy has signed a partnership agreement with one of Japan’s largest power companies to pursue its floating LNG proposal.

This morning, Transborders announced it had signed a multi-project agreement with Kyushu Electric Power Co, global oil and gas company TechnipFMC, engineering consultancy Add Energy Group, Japanese transport company Mitsui O.S.K. Lines and SBM Offshore to commercialise stranded offshore gas opportunities in Australia and overseas.

For several years, the company has been working on its pre-engineered 1.5 million tonne per annum small-scale floating LNG facility, which would be capable of converting stranded gas resources into ‘project sanction ready’ commercial projects within 24 months.

The proposal was given major project status by the federal government in 2018.

Transborders Energy’s chairman Jack Sato said the collaborative agreement was the first-of-its-kind among world class contractors and investors and would allow offtakers access to competitive LNG supply sources.

Add Energy Group chief executive officer Ole Rygg said the company was proud to contribute to the project as it focuses its efforts on unlocking opportunities that reduce its carbon footprint.