Buru Energy Ltd (ASX:BRU) has entered into an agreement to conduct a pre-feasibility study with Transborders Energy as part of its work on the commercialisation of its large-scale Rafael conventional gas and condensate discovery in the Canning Basin of WA.
Marinised LNG plant solution
The pre-feasibility study will look at a Kimberley-based compact marinised LNG plant solution that has the potential to provide a faster, more capital-efficient and less complex regulatory and commercial alternative LNG production pathway for Rafael gas than a concept involving transporting Rafael gas to the North West Shelf for liquefaction and export.
Since 2016, Transborders has been developing a solution aimed at fast-tracking monetisation of gas resources that also allows LNG buyers to offtake LNG and invest in the LNG facility.
Major project status
The solution being evaluated for potential Rafael gas commercialisation has obtained ‘major project’ designation from the Australian Government and has been developed in a multi-project collaboration arrangement with Kyushu Electric Power, Mitsui OSK Lines, Technip (EPA:FTI) (OTC:TNHPF) Energies, SBM Offshore and Add Energy.
Buru CEO Thomas Nador said: “We are very pleased to be collaborating with Transborders on the potential use of a more localised, scalable and innovative LNG solution for bringing Rafael gas to market.
“This relationship is an important component of our commercialisation options for the development of our world-class Rafael resource, particularly as under the collaboration arrangement, Transborders has access to a world-class multi-disciplinary team across the full development and sales spectrum.”
Energy security
Transborders director Daein Cha said: “We are pleased to collaborate with Buru for deploying our solution with the aim to accelerate the commercialisation of Buru’s Rafael-related assets.
“With the governments of Japan and Australia reaffirming the critical importance of enhancing energy security via cooperation through secure and reliable LNG trade and investment, this development could materially contribute to this important cause.”
The pre-feasibility study is due to be completed by end of the first quarter of the new year.
About Transborders
Transborders is a gas resource development company aiming to accelerate the monetisation of undeveloped gas resources in Australia and overseas.
It achieves this by partnering with world-class engineering, procurement, construction and installation (EPCI) and operations and maintenance (O&M) contractors, investors, and LNG buyers and co-delivering its pre-engineered 1.5 million-tonne-per-annum production capacity LNG facility with its partners and the gas resource owners.