Oz FLNG Player Signs MoU with Japan's Osaka

Australian floating LNG (FLNG) developer Transborders Energy has entered into a memorandum of understanding (MoU) on collaboration with Japan’s Osaka Gas.

Under the deal, the pair will share information and knowledge to evaluate projects that could commercialise stranded offshore gas resources using Transborders’ solution, the Perth-based company said in a statement on September 16.

“Osaka Gas’ capabilities in the LNG business are world class. We look forward to seeking insights and support from Osaka Gas too strengthen the development of our venture,” Transborders chairman Jack Sato commented

Transborders aims to provide pre-engineered 1.3mn mt/yr FLNG facilities with a package of streamlined commercial arrangements and a regulatory approval execution plan to gas resource owners. The company is currently carrying out pre-front end engineering design (Feed) work and is in pre-negotiation over commercial terms for this solution.

“By the end of 2019, Transborders will be in a position to convert a range of stranded gas resources into ‘project sanction (FID) ready’ state within 24 months after the FLNG Solution deployment while also allowing LNG buyers access to competitive LNG supply sources,” the company said.

 It is already working with Japan’s Kyush Electric Power and other world-class LNG buyers, as well as London-based TechnipFMC and Norway’s Add Energy to implement its solution.