Colver Technologies has signed a memorandum of understanding with Turkmenistanâ€™s state-owned gas company, TurkmenGaz.
Online PR News – 07-October-2015 – Liaoning, China – Talks between Colver Technologies and the state-owned gas company of Turkmenistan have culminated in the signing of a memorandum of understanding between the two parties which are expected to lead to a formal invitation for the Liaoning, China-based small-scale gas-to-liquids solutions provider to construct a series of its modular plants at two sites south-east of the capital city Ashgabat.
The signing comes after extensive discussions between state-officials and company representatives that lasted more than 6 months.
â€śWeâ€™re absolutely delighted with the outcome weâ€™ve managed to achieve here,â€ť said Gus Stuyvesant, COO at Colver Technologies from TurkmenGaz headquarters in Ashgabat. â€śThis MOU shows that weâ€™re all on the same page and can begin progressing towards a formal agreement that will hopefully see us begin construction early next year,â€ť he added.
â€śColver Technologies has enjoyed an active and profitable year with operations running in Kyrgyzstan, several locations on the North American continent and on any number of floating rigs around the world. We expect to build on this yearâ€™s success by remaining focused on doing what we do best,â€ť said Stuyvesant.
Turkmenistan which supplies large quantities of gas to China has to import gasoline because of a lack of refining facilities for crude oil which it lacks in comparison. The country hopes to use GTL technology to reduce its reliance upon importing refined products.
â€śColver Technologies will hold formal talks with TurkmenGaz and representatives of the countryâ€™s energy ministry during the course of the next 2 months at which point it will provide formal updates on progress.
About Colver Technologies
Colver Technologiesâ€™ modular GTL systems revolve around the Fischer-Tropsch reactor, a conversion technology developed in the 1920s by Franz Fischer and Hans Tropsche in Germany in 1925. It facilitates the production of significantly cleaner-burning liquid fuels like diesel and jet fuel from natural gas that contains no sulfur. We are committed to doing our part to drive uptake of GTL fuels as global efforts to reduce emissions increase and have invested heavily to ensure the continuing development of this highly attractive alternative to conventional energy production.