Research from various studies led by Foster Wheeler Energy Ltd. for Sasol Ltd. found that a generic 30,000 b/sd gas-to-liquids (GTL) plant based on Fischer-Tropsch technology can be constructed in a coastal site for less than $25,000/daily bbl in about 30-33 months.
Newer gas-to-liquids (GTL) technologies are being developed to achieve better economics at smaller plant sizes. GTL technology supplier Syntroleum has now developed its technology to the stage that a commercial plant can be built.
Royal Dutch/Shell Group's wholly owned unit Shell Oil Co. earlier this month offered to acquire all the common stock of Denver-based independent Barrett Resources Corp. at a price of $55/share in cash.
In some quarters, the argument runs that gas will almost singlehandedly fuel the industrial and domestic future of Europe-but this is far from saying there aren't serious hurdles to surmount in the present.
In May 2000, the first of four 300-MMscfd cryogenic process units was commissioned on schedule in the nitrogen-generation plant (NGP) for the Cantarell field off the Atasta Peninsula, state of Campeche, Mexico.
During December 2000 and January 2001, an unprecedented surge in gas prices rolled through the US economy. Standing directly in its path, gas processors and ethylene producers suffered substantial economic damage.
On Sept. 15, 2000, more than 10,000 athletes from 198 countries gathered in Sydney, Australia, for the opening ceremony of the 2000 Summer Olympic games, and over 3.5 billion people viewed the event on television.