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OSLO, Oct 17 (Reuters) - Norway's Add Energy, Australia's Transborders Energy and other partners will pick a site early next year for a low-cost floating liquefid natural gas (FLNG) development, the Norwegian consultancy firm said on Tuesday.
The project will target relatively small discovered gas reservoirs of between 0.5 trillion and 2 trillion cubic feet, finds that would otherwise be too expensive to extract due to their remote location or high facility development costs.
"Offshore Australia has been identified as suitable for an initial pilot project, with a target resource to be confirmed early 2018 and the project to be reach Final Investment Decision by 2020," Add Energy said in a statement.
The FLNG vessel that the consortium aims to construct, will have a production capacity of about 1 million tons of LNG per year.
TechnipFMC and MODEC, will be the engineering, procurement, construction and installation (EPCI) partners in the project. (Reporting by Lefteris Karagiannopoulos, editing by Terje Solsvik)