Oil and Gas News

Transborders Energy FLNG secures MPS from Aus Gov

Transborders Energy has secured the major project status (MPS) from the Australian Government for its floating liquified natural gas (FLNG) solutions development, Western Australia.

MPS is the Australian Commonwealth Government’s recognition of the national significance of a project – for economic growth, employment or for regional Australia.

Minister for Industry, Science and Technology Christian Porter granted MPS renewal on the basis that the project can contribute to the growth of the FLNG industry in Australia.

Porter considers the project to be significant because of the potential to encourage LNG exports and future project development, offering an opportunity to grow and diversify the Australian economy and contribute to the economic development of regional Western Australia and the Northern Territory.

Transborders Energy chairman Jack Sato said the company is very pleased to continue receiving the MPS designation.

“This provides a clear indication of the Australian Government’s ongoing support for our FLNG Solution development. We will continue progressing our development with confidence to offer affordable energy during the transition towards a carbon free economy, as well as to provide jobs and growth in Australia,” he said.

“Together with its strategic partners Kyushu Electric Power, Mitsui O.S.K. Lines, Technip Energies, SBM Offshore and Add Energy, Transborders Energy can convert a range of stranded gas resources into project sanction (FID) ready state within 24 months after the FLNG solution deployment, while also allowing LNG buyers access to competitive LNG supply sources.

In January the company signed a multi-party and multi-project FLNG solution framework agreement with the above entities for co-pursue the deployment of Transborders’ FLNG solution on a range of stranded offshore gas resource opportunities.