$1.6 Billion Floating LNG Project Granted Major Project Status

Transborders-FLNG

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The Australian Government has granted a $1.6 billion floating liquefied natural gas (FLNG) Major Project Status.

Transborders Energy, a Perth-based company, wants to offer a solution for owners of gas offshore Australia, by developing a small scale FLNG venture. The FLNG solution will aim to deliver a 1.2 million tonne a year vessel which will streamline processes and commercial agreements.

The project is expected to create 150 construction jobs during the commissioning of the initial FLNG vessel. It is expected that another 100 direct and 200 indirect skilled jobs are forecasted over the life of the project.

Daein Cha, Transborders managing director, has spoken about the significance of receiving Major Project Status, stating “We are very pleased to receive the Major Project designation, and thank the Ministers and the Major Project Facilitation Agency for their consideration and support.  We look forward to working with the Australian Government to deliver our predetermined, low-cost FLNG Solution for monetizing a range of stranded gas resources in the Australian jurisdiction.”

iSeekplant

Earlier this month Transborders Energy signed a Joint Study agreement with a major LNG buyer to study their FLNG development.

Specifically, the partied will conduct work that will enhance the technical and commercial viability of Transborders “Generic FLNG Solution”, the work includes;

  • Technical pre-front end engineering and design
  • Negotiation of key terms of major agreements

It is expected that this joint study will be completed by early 2019.

Michaelia Cash, Minister for Jobs and Innovation, spoke about this project, stating, “This project is a great example of how innovation within our existing industries is creating new jobs for Australians.  Innovation isn’t just about new start-ups, innovation is doing what we currently do well and improving it.”

Matt Canavan, Minister for Resources and Northern Australia, also spoke about the project, stating, “This project, and other FLNG developments, are helping to build Australia’s reputation in the offshore gas sector.  The Australian Government is dedicated to ensuring Australia’s resource and energy sectors are globally competitive, innovative and continue to create jobs.”

Source: Government of Australia, Transborders Energy, Prime Creative Media

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