Australia’s Buru Energy has joined forces with compatriot Transborders Energy to study using the latter’s floating LNG solution to commercialize Buru’s Rafael conventional gas and condensate discovery in the Canning Basin.
According to a joint statement, the two firms entered into an agreement to conduct a pre-feasibility study for a Kimberley-based compact marinized LNG plant solution.
“This solution potentially provides 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 (NWS) for liquefaction and export,” the statement said.
Since 2016, Transborders has been developing a floating solution aimed at fast tracking monetization of gas resources that also allows LNG buyers to both offtake LNG and invest in the LNG facility with a capacity of about 1.5 mtpa.
The solution has obtained “major project” designation from the Australian government and Transborders developed it in a multi-project collaboration arrangement with Kyushu Electric Power, MOL, Technip Energies, SBM Offshore, and Add Energy, the statement said.
Buru has a 50 percent interest and is operator of the Rafael 1 condensate rich gas discovery in the Canning Basin. Also, Origin Energy holds the other 50 percent equity in the permit.
An independent resources report by ERCE has estimated that there is in an excess of 1 Tcf of recoverable gas at the 3C level, according to Buru.
The partners expect to complete the pre-feasibility study by the end of the first quarter of 2023.