Australian energy company, Transborders Energy, has announced the granting of Major Project Status to its floating liquefied natural gas (FLNG) development.
Major Project Status is the Australian Commonwealth Government’s recognitions of the national significance of a project for economic growth, employment or for regional Australia.
Providing that the project is able to contribute to the growth of the FLNG industry in Australia, MPS renewal has been granted by Senator the Hon. Christian Porter, Minister for Industry, Science and Technology.
With future LNG exports being a focal point of the project, Porter sees this as an opportunity to grow and diversify the Australian economy, as well as committing to contributing to the economic development of regional Western Australia and the Northern Territory.
Speaking about the agreement, Jack Sato, Chairman, Transborders Energy, said, “We are very pleased to be re-awarded the MPS grant. It clearly indicates the Australian Government’s ongoing support for our FLNG Solution development.”
“We will continue progressing our development with a view to offer sustainable and affordable energy during the transition towards a carbon free environment, as well as to provide job opportunity and growth in Australia.”
Transborders Energy, along with partners Kyushi Electric Power, Mitsui O.S.K. Lines, Ltd., Technip Energies, SBM Offshore and Add Energy, are able to convert a range of stranded gas resources into ‘project sanction (FID) ready’ state within 24 months after the FLNG Solution deployment.
The partnership also allows LNG buyers access to competitive LNG supply sources.