The Australian government has granted a major project status to Transborders Energy’s small-scale floating LNG project to be deployed in the offshore gas regions of the Australian coast.
The A$1.6 billion offshore gas project, being developed by the Perth-based Transborders Energy, will deploy a small-scale FLNG unit to tap into otherwise non-viable, small or difficult to retrieve offshore gas resources, the government’s statement reads.
The project is expected to increase Australia’s LNG exports by 1.2 million tons per annum over the project’s 25-year lifespan, from 2025.
Transborders Energy will receive assistance from the Major Project Facilitation Agency to navigate the Commonwealth approvals process to develop the project.
The Major Project Facilitation Agency administers the Department of Industry, Innovation and Science’s Major Project Facilitation programme, under which the major project status has been granted.
Speaking of the status award, Transborders Energy’s managing director Daein Cha said the company will work with the government to deliver its FLNG solution and monetize a range of stranded gas resources in the Australian jurisdiction.
Transborders Energy is working with its partners Add Energy and TechnipFMC, its technical advisor MODEC and a major Asian LNG buyer to progress the development of the FLNG projects.