TRANSBORDERS Energy has signed a multi-party and multi-project agreement for the deployment of its floating LNG facility.
The company said this agreement is a collaborative arrangement among engineering contractors, operators, investors and LNG offtakers to collectively commercialise a series of discovered but stranded offshore gas resource opportunities.
The companies that have signed up to the agreement are Add Energy Group, Kyushu Electric Power, Mitsui OSK Lines, SBM Offshore and Technip.
Transborders’ facility, called FLNG Solution, is pre-engineered and has a capacity to handle 1.5 million tonnes per year.
Instead of developing bespoke facilities for different resources, FLNG Solution provides a ready-made system.
Transborders said the facility comes with a package of streamlined and pre-agreed commercial arrangements and a robust regulatory execution plan that can be applied to a range of stranded offshore gas resource opportunities.
Transborders chairman Jack Sato said the framework agreement is a first of its kind agreement.
“Our pre-agreed commercial arrangements, together with our pre-engineered 1.5 million tonne per annum FLNG facility, can convert stranded gas resources into project sanction (FID) ready projects within 24 months, while also allowing LNG offtakers access to competitive LNG supply sources and to attractive FLNG facility investments,” he said.
Technip president Arnaud Pieton said the agreement is a new step for the FLNG industry and for the energy transition journey to a low-carbon society.
“Under this framework, Technip would further strengthen its FLNG leadership and leverage the expertise and learnings from its other three FLNG projects in operation or under construction,” he said.
