Transborders Energy (Transborders) is pleased to announce it has entered into a FLNG Solution Partnership Agreement with Single Buoy Moorings Inc. (SBM Offshore) for co-pursuing the deployment of Transborders’ FLNG Solution on a range of stranded offshore gas resource opportunities.

Transborders’ FLNG Solution provides a pre-engineered one point five (1.5) million tonne per annum floating LNG facility with a package of streamlined commercial arrangements and a robust regulatory approval execution plan to gas resource owners.

Under this Partnership Agreement, for future project opportunities, Transborders has designated SBM Offshore as its exclusive operation and maintenance services contractor for its FLNG facilities. SBM Offshore will also be the exclusive contractor for the part of the FEED services and the engineering, procurement, construction services related to the turret mooring and hull scopes of Transborders’ FLNG facilities.

Transborders’ Managing Director Daein Cha says, “We are very pleased to welcome SBM Offshore as our strategic partner. SBM Offshore is the global leader for design, supply, installation, operations and leasing of floating production systems and is strategically committed to develop and operate our FLNG facilities.”

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

Transborders’ FLNG Solution development work is also designated as a “Major Project” from the Australian Federal Government.

About Transborders Energy

Transborders Energy generates step changes in industry value creation by deploying our predetermined low-cost Generic Floating LNG (FLNG) Solution to accelerate monetisation for a range of discovered but stranded gas resources.

Transborders Energy's Generic FLNG Solution consists of delivering a ~1.2 million tons per annum FLNG vessel with a package of streamlined processes to execute the hydrocarbon sales and other key commercial agreements, and to facilitate the regulatory approvals that underpin the conversion of stranded gas resources to commercially viable reserves and subsequently facilitates project sanction (Final Investment Decision).

About SBM Offshore

SBM Offshore N.V. is a listed holding company that is headquartered in Amsterdam. It holds direct and indirect interests in other companies that collectively with SBM Offshore N.V. form the SBM Offshore Group (“the Company”).

SBM Offshore provides floating production solutions to the offshore energy industry, over the full product lifecycle. The Company is market leading in leased floating production systems delivered to date, with multiple units currently in operation and has unrivalled operational experience in this field. The Company’s main activities are the design, supply, installation, operation and the life extension of floating production solutions for the offshore energy industry.

As of December 31, 2018, Group companies employ approximately 4,350 people worldwide, including circa 650 contractors, which are spread over offices in key markets, operational shore bases and the offshore fleet of vessels. Group Companies employ a further 400 people, working for the joint ventures with two construction yards.