Transborders Energy has signed a Memorandum of Understanding (MoU) for collaboration with Osaka Gas.
The MoU between will facilitate the sharing of information and knowledge between Transborders and Osaka Gas, potentially leading to the commercialisation of stranded offshore gas resources based on Transborders’ FLNG Solution.
The FLNG Solution provides a pre-engineered 1.3 million T per annum floating LNG facility, with a package of streamlined commercial agreements and regulatory approval executive plans to gas resource owners.
Currently, Transborders is conducting preliminary front end engineering and design work and pre-negotiation of key commercial terms for the FLNG Solution.
By the end of 2019, the company anticipates it will be able to convert a range of stranded gas resources to ‘project sanction final investment decision ready’ within 24 hours after FLNG Solution deployment, allowing buyers access to competitive LNG supply sources.
Transborders Chairman Jack Sato said that Osaka Gas’ capabilities in the LNG business are “world class” and Transborders looks forward to working with the company to develop the FLNG Solution venture.
The FLNG Solution will be deployed with Transborders’ partners Kyushu Electric Power, Tenchnip FMC and Add Energy, with its development work being designated as a “major project” by the Australian Federal Government.
For more information visit the Transborders Energy website.
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