Recovering flared gas reserves
First Titan Corp. (FTTN) is in the final stages of negotiation with BioFuels Power Corp. to cement its entrance into the US$ 5.29 billion gas to liquids (GTL) market. It is also becoming exceedingly apparent that there is an immense profit to be made in converting flared gas reserves into liquid hydrocarbon fuel.
An abundance of natural gas
Large volumes of natural gas are burned into the atmosphere every day, with literally millions of dollars in revenue disappearing. A study by Ceres has shown that in North Dakota 30% if produced natural gas is being flared. FTTN, along with its partners, is evaluating an investment in technology that will convert natural gas which is currently being flared into a diesel like fuel that is far more valuable in today’s marketplace.
During May of this year, natural gas flaring in North Dakota represented approximately US$ 3.6 million /d in lost revenue. This works out as over US$ 1.3 billion /y.
The negotiations
FTTN is currently in negotiations with BioFuels Power Corp., an industry accomplished company that possesses the technology to increase the financial returns of FTTN’s natural gas resource holdings and acquisition targets.
Adapted from a press release by Claira Lloyd.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/21102013/recovering_flared_natural_gas765/
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