Australian oil and gas services company Transborders Energy has expanded its group of partners in a push to develop and deploy its Floating LNG solution.
The company informed on Wednesday it has signed a multi-party and multi-project FLNG solution framework agreement with Kyushu Electric, Add Energy Group, Mitsui O.S.K. Lines, SBM Offshore and TechnipFMC.
This FLNG agreement is a first-of-its-kind collaborative arrangement between contractors to collectively pursue and commercialize a range of stranded offshore gas resource opportunities.
It sets out the commercial terms in any project that uses Transborders’ 1.5 million tonnes per annum FLNG facility.
This “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,” explained Jack Sato , Transborders Energy’s chairman.
The document sets the terms and conditions in relation to the Engineering Procurement, Construction & Installation (EPCI) of the FLNG and upstream facilities and the gas offtake and liquefaction tolling arrangements that would apply on a range of stranded offshore gas resource opportunities.
The following roles for the companies are agreed upon: