Via the Oil and Gas Journal -- Syntroleum Corp., Tulsa, (Nasdaq: SYNM) recently signed memoranda of understanding that it says could lead to construction of three gas-to-liquids (GTL) plants using its proprietary Fischer-Tropsch technology:
-- Syntroleum and Papua New Guinea's Ministry of Planning and Development will examine development of a 50,000 b/d GTL plant near the capital city Port Moresby as part of an industrial complex dedicated to gas-based industries. The plant would share a natural gas pipeline and infrastructure facilities with other possible gas conversion participants, including ammonia, methanol, and power plant developers. Papua New Guinea's proved and probable natural gas reserves are estimated at more than 15 tcf. About 6 tcf currently are dedicated to a planned pipeline linking the country to Australia.
-- Syntroleum and service company PT Elnusa, a subsidiary of Indonesia's state-owned company Pertamina, will establish a joint study to identify suitable existing gas reserves for development of a GTL facility in Indonesia. The companies are looking at numerous properties within Indonesia as potential sites for a plant, Syntroleum said.
-- Ivanhoe Energy (Middle East) Inc., a Syntroleum licensee, and Egyptian Natural Gas Holding C(EGAS) will prepare a joint study to determine the economical feasibility of constructing and operating a GTL plant in Egypt. A site has not yet been determined. EGAS would commit as much as 4.2 tcf of natural gas, or about 600 MMcfd, for a 20-year period if the study proves the project viable, Ivanhoe reported.