TMK allies with Beijing-based J-Energy to speed up Mongolian gas play
The agreement outlines J-Energy's role in providing technical and commercial services, including geological, engineering and project development expertise, to help prepare a comprehensive field development plan.
J-Energy, founded in 2016 by former Shell China leaders, brings a proven track record, having delivered high-value outcomes for other ASX-listed companies such as Sino Gas & Energy Holdings and ROC Oil Company.
The alliance also encompasses operational and logistical support, leveraging J-Energy's network to procure equipment and services from China, a critical advantage given the project's proximity to the Shivee Khuren border crossing, less than 50 kilometres away and accessible via sealed roads.
The strategic location enhances efficiency in sourcing major equipment, aligning with TMK's focus on cost-effective development.
Additionally, J-Energy will help identify and engage potential financial or project partners. It will earn a success fee - payable in cash or equity - if investments are secured, fostering commercial pathways to advance Gurvantes XXXV.
Ferguson said J-Energy chairman and CEO Jiao Bo and his team have the experience and reputation to help TMK create inroads into the broader Chinese market and would provide technical expertise as the company moves forward with the project.
J-Energy's team, comprising more than 30 full-time staff and 60 part-time technical experts, has extensive experience with major Chinese energy firms such as CNPC, Sinopec and CNOOC, as well as international clients.
The partnership positions TMK nicely to capitalise on J-Energy's technical excellence and regional connections, ensuring efficient project design and execution while tapping into China's robust energy infrastructure for logistical support.
The alliance marks a pivotal step for TMK as it seeks to unlock the full potential of Gurvantes XXXV, a key asset in Mongolia's emerging coal seam gas sector.
By combining J-Energy's industry-leading expertise with strategic proximity to China, TMK is well-placed to deliver a solid field development plan and attract high-value partnerships.
The company's fledgling alliance with J-Energy establishes a dynamic course for the Gurvantes XXXV project, merging top-tier expertise with strategic logistics to drive rapid progress. With high-calibre partners and a clear path forward, TMK looks poised for success in Mongolia's energy landscape.
Is your ASX-listed company doing something interesting? Contact:
matt.birney@wanews.com.au
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