Transborders, Buyer Eye Oz FLNG

Privately owned Australian company Transborders Energy has signed a joint study agreement with “a major Asian LNG buyer” to work together on the development of a floating LNG project, Transborders said April 16.

“The joint study allows Transborders to enhance the technical and commercial deploy-ability of Transborders’ Generic FLNG Solution for a range of discovered but stranded gas resources,” the company said.

Specifically, it provides for the parties to work together on the technical and commercial definition of the project and consists of completing a “Generic” FLNG technical pre-front end engineering and design that caters to a range of discovered but stranded gas resources and negotiation of key terms of major agreements for underpinning the reserve booking as well as facilitating a final investment decision.

It is anticipated that the joint study will be completed by early next year.

Transborders managing director Daein Cha said: “We are very pleased to sign this Joint Study Agreement as a key milestone for the business. The support of a major Asian LNG buyer is fundamental to the development of Transborders’ Generic FLNG Solution”.

The project is intended to be a roughly 1.2mn metric tons/year vessel.