Aussie FLNG developer secures major project status
Australian Transborders Energy on July 8 said its floating liquefied natural gas (FLNG) solution development has secured the major project status (MPS) renewal from the Australian government.
MPS is the Australian government’s recognition of projects' importance for supporting economic growth and creating employment. Transborders said the government sees its FLNG solution to be significant as it will encourage LNG exports and future project development. It can contribute to the economic development of regional Western Australia and the Northern Territory, the company said.
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“We are very pleased to be re-awarded the MPS grant. It clearly indicates the Australian government’s ongoing support for our FLNG solution development,” Transborders chairman, Jack Sato, said. “We will continue progressing our development with a view to offer sustainable and affordable energy during the transition towards a carbon free environment, as well as to provide job opportunity and growth in Australia.”
Together with its strategic partners Kyushu Electric Power, Mitsui OSK Lines, Technip Energies, SBM Offshore and Add Energy, Transborders said it can progress a range of stranded gas resources into "project sanction ready" state within 24 months after the FLNG unit is deployed.
Perth-based Transborders earlier this year executed joint study agreements with Japanese firms JX Nippon Oil & Gas Exploration Corp and Toho Gas to co-develop deepC Store, a project that will capture and store CO2 offshore Australia.