Synthetic fuels company Oxford Catalysts has signed a tie-up with Russian oil giant Rosneft to help design and construct a gas-to-liquids (GTL) demonstration plant.
The plant, located in Irkutsk Oblast, just north of the Russian/Mongolian border will have a capacity of 10m cubic metres per year of natural gas, equivalent to approximately 100 barrels per day of synthetic crude.
Rosneft has a stated objective and budget to reduce flaring and make better use of associated gas. This facility is envisioned as the first of many commercial GTL plants that will convert gas associated with oil production into synthetic crude or high quality downstream products, including synthetic diesel, waxes and naphtha (an important petrochemical feedstock).
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Roy Lipski, Chief Executive Officer of Oxford Catalysts pointed out: "With its vast reserves of natural gas and significant quantity of flared gas, Russia represents a major potential market for GTL"
From oil to copper: how to trade wisely when capitalising on mega trends
By MoneyWeek Published
Thousands of pensioners forced to claim back huge amounts in emergency tax
Some retirees are losing more than £50,000 in emergency tax when they withdraw money from their pensions, which then has to be clawed back from HMRC.
By Ruth Emery Published