World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 


Floating Methanol Plant Could Play Shortage Role

Floating Methanol Plant Could Play Role in U.S. Energy World's First Floating Methanol Plant Could Play Role in Alleviating U.S. Energy Shortage

HOUSTON, Texas, July 29 /PRNewswire-AsiaNet/ --

Floating Large-Scale Fuel-Grade Methanol Plant Designed to Capture 'Stranded Gas'

PetroWorld, along with three international partners, on July 16 announced that they are developing the world's first floating large-scale, fuel-grade methanol plant designed to extract natural gas from reserves in remote areas and convert it on board into liquid methanol at a rate of 12,000-15,000 tons of output per day.

A primary market for the product is certain gas turbine power plants in the U.S., where methanol would be an advantageous alternative fuel. The $700 million plant will be deployed off Africa's west coast about three years from the date that project details and financing are finalized.


The partnership hopes to develop and deploy additional plants in appropriate maritime locations around the world that have "stranded gas." Unlike oil, liquid methanol can be produced and sold at a less volatile price, which is good news for U.S. power companies currently at the mercy of fluctuating oil and gas prices. Background on "Stranded Gas" The world's proven natural gas reserves are in excess of 5,000 trillion cubic feet, which is enough to satisfying one-third of total world oil demand for 35 years. However, half of these gas reserves are "stranded," meaning they are located off the shores of countries where it is uneconomical to build liquid natural gas (LNG) facilities on shore, not to mention the cost of transportation in specially refrigerated tankers (since no pipeline system exists). The floating methanol plant is ideal

-- it eliminates any on-shore investments and liquid methanol can be transported in ordinary tankers. The princ!ipal challenge was developing a cost-efficient methanol plant that would fit on a vessel, which was accomplished by Starchem Technologies, Foster Wheeler Power Systems and Waller Marine.

About the Partners

The world's first floating methanol plant is being jointly developed by PetroWorld Limited (a 50-50 joint venture between PetroSA, the Petroleum Oil and Gas Corporation of South Africa Ltd. and Transworld Exploration Ltd., part of the Transworld Group of Companies), Perryville, New Jersey-based Foster Wheeler Power Systems Inc., Houston-based Starchem Technologies International Ltd. and Houston-based Waller Marine Inc.

SOURCE: PetroWorld Limited; Transworld Oil U.S.A., Inc. CONTACT: Bader Metouri of Transworld Oil U.S.A., Inc. +1-713-428-7881 or bmetouri@twoil.com


© Scoop Media

 
 
 
 
 
World Headlines

 

At The UN: Paris Climate Agreement Moves Closer To Entry Into Force

The Paris Agreement on climate change moved closer toward entering into force in 2016 as 31 more countries joined the agreement today at a special event hosted by United Nations Secretary-General Ban Ki-moon. More>>

ALSO:

Gordon Campbell: On The End Game In Spain (And Other World News)

The coverage of international news seems almost entirely dependent on a random selection of whatever some overseas news agency happens to be carrying overnight... Here are a few interesting international stories that have largely flown beneath the radar this past week. More>>

Amnesty/Human Rights Watch: Appalling Abuse, Neglect Of Refugees On Nauru

Refugees and asylum seekers on Nauru, most of whom have been held there for three years, routinely face neglect by health workers and other service providers who have been hired by the Australian government, as well as frequent unpunished assaults by local Nauruans. More>>

ALSO:

Other Australian Detention

Gordon Campbell: On The Censorship Havoc In South Africa’s State Broadcaster

Demands have included an order to staff that there should be no further negative news about the country’s President Jacob Zuma, and SABC camera operators responsible for choosing camera angles that have allegedly made the President ‘look shorter’ were to be retrained... More>>

ALSO:

Gordon Campbell: On A Bad Week For Malcolm Turnbull, And The Queen

Malcolm Turnbull’s immediate goal – mere survival – is still within his grasp... In every other respect though, this election has been a total disaster for the Liberals. More>>

ALSO:

Gordon Campbell: On Bidding Bye Bye To Boris

Boris Johnson’s exit from the contest for Conservative Party leadership supports the conspiracy theory that he never really expected the “Leave” option to win the referendum – and he has no intention now of picking up the poisoned chalice that managing the outcome will entail... More>>

ALSO:

Get More From Scoop

 
 
 
 
 
World
Search Scoop  
 
 
Powered by Vodafone
NZ independent news