CompactGTL announced Monday that its chairman Tony Hayward
and Uzakbay Karabalin, the oil and gas minister of the
Republic of Kazakhstan, have agreed to develop and implement
gas processing technologies to build the worlds first
commercially-deployed small-scale GTL plant.
In furtherance of the agreement, signed at the London Stock
Exchange during the Caspian Corridor Conference, CompactGTL
intends to build the worlds first commercially deployed
small-scale gas-to-liquids (GTL) plant in Kazakhstan.
The proposed plant is expected to bring with it significant
future commercial and environment
al benefits, according
officials. Up to 820,000
cubic meters of associated gas that might otherwise be wasted
will be fed through the plant every day to produce
approximately 3,000 bpd of synthetic diesel.
In a year, the plant is expected to monetize over 300 million
cubic meters of gas.
The new GTL plant will enable Kazakhstan to create a local
industry that processes
associated gas to produce fuels for local consumption,
according to government officials.
CompactGTL, together with investors from Kazakhstan, have
agreed to finance, design and build the up to 3,000 bpd GTL
plant, using CompactGTLs proven technology
and plant design.
"This is a significant step forward, not just for CompactGTL,
but also for the small-scale gas-to-liquids industry," said
Hayward. "Kazakhstan has clearly identified the significant
economic benefits a small scale GTL plant can bring."
CompactGTL says it expects to have the fully-functioning
small-scale GTL plant in operation in 2017.
It is expected that initial engineering will take
approximately 12 months, followed by a construction
period of around
two years, highlighting the relative speed with which such
can be delivered.