Perth-based Transborders Energy signed a deal with an unnamed Asian LNG buyer to work together on the development of Transborders’ generic floating LNG (FLNG) solution.
The joint study aims to build the technical and commercial deployability of Transborders’ FLNG solution for a range of discovered but stranded gas resources, the company said in a statement.
The joint study agreement provides for the FLNG solution and consists of completing the FLNG technical pre-front end engineering and design (Pre-FEED) that caters to a range of discovered but stranded gas resources.
It also includes completing negotiation of key terms of major agreements for underpinning the reserve booking as well as facilitating project sanction (FID).
The company added that the involvement of a “major Asian LNG buyer in developing Transborders’ Generic FLNG solution provides significant credibility and the potential for bankability of the future deployment of the solution.”
It is anticipated that the joint study will be completed by early 2019 in order to be marketed to resource owners for the development of their resource.
The facility would be capable of producing around 1.2 million tons of LNG per year.
Transborders is working with Add Energy and TechnipFMC, its technical advisor MODEC in addition to the Asian LNG buyer to progress the development of the project.