Transborders Energy targets mini floating LNG opportunity
Privately owned Transborders Energy has linked up with an unidentified "major Asian LNG buyer" in what it expects will be a catalyst for adoption of its small-scale floating LNG production technology at undeveloped gas fields off Australia's coastline.
Managing director Daein Cha, a former LNG buyer with Tokyo Gas Co, said he is aiming to start deploying Transborders' FLNG "solution" in 2019, with initial work already underway with the holders of five separate gas resources.
He expects the technology will be suitable for a number of the country's circa 40 discovered but undeveloped fields of between 0.5-5 trillion cubic feet in size that are lying fallow with few options for commercial development. Between them, the fields hold 65 trillion cubic feet of gas that could in theory be brought to market.
The alliance with the Asian LNG buyer takes the form of a "joint study agreement" that will work on a generic FLNG design able to be deployed at a range of different fields. It would also lead to the development of standard key terms for major agreements to underpin the booking of gas reserves and facilitate final investment decisions on projects.
Perth-based Transborders is also working alongside recognised technology experts including Technip FMC, Norwegian services provider Add Energy and technical adviser MODEC to tailor fields to the floating LNG design.
The work between the partners is due to be complete by early 2019, allowing the FLNG product to be marketed to owne....