FMC Technologies, Accentus Form GTL Joint Venture

Thursday, May 08, 2003
FMC Technologies and Accentus announced the establishment of a joint venture company, GTL MicroSystems, for the commercial development of Gas-To-Liquids (GTL) technology. FMC Technologies has a majority ownership interest in GTL MicroSystems. "FMC Technologies' expertise in the design, manufacture and project management of complex offshore facilities and Accentus' world-leading scientists and success with intellectual property development make an excellent combination that can lead to commercial GTL success," said Joseph H. Netherland, Chairman, President and Chief Executive Officer of FMC Technologies. Following a two-year alliance, FMC Technologies and Accentus believe that they have achieved a breakthrough in the fundamentals and economics of GTL technology for the exploitation of the world's stranded and associated gas reserves. The majority of the world's natural gas exists in small, stranded reserves or as gas associated with oil production. These reserves are difficult to economically exploit using current GTL technology. However, GTL MicroSystems believes its technology will allow monetization of gas reserves as small as 10 million standard cubic feet per day (mmscfd), which is the equivalent of 1,000 barrels per day (bpd), at lower per-barrel capital costs than those of traditional, large-scale plants. Commercialization of this GTL technology targets oil and gas fields with 200 mmscfd (20,000 bpd equivalent) of gas production or less. GTL MicroSystems has conducted analytical, laboratory and proof-of-concept trials that have demonstrated the feasibility of manufacturing a compact, high-efficiency, "Process Intensified" (PI) GTL plant using microreactor technology. GTL MicroSystems' proprietary technology should enable PI GTL plants to be located in space-restricted areas, such as on offshore platforms, Floating Production, Storage and Offloading (FPSO) vessels, or mobile skids.
Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Hyde Guardian BWTS for Edison Chouest Fleet

Hyde Marine, Inc., a wholly owned subsidiary of Calgon Carbon Corporation, has been selected as a strategic supply partner for ballast water treatment (BWT) systems

Rosneft, ExxonMobil Continue Drilling for Now

Russia's Rosneft and U.S. ExxonMobil are continuing to drill in the Kara Sea and plan to stop work by Oct. 10, Russian Deputy Energy Minister Kirill Molodtsov said on Tuesday.

Aberdeen Harbour Installs Siklu Security Network

Aberdeen Harbour has extended its security solutions coverage using high-capacity backhaul from Siklu, the market leader in millimeter wave backhaul informs the Israel-based tech firm.

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.5280 sec (2 req/sec)