More oil and gas company announcements: 31 October 2014

GEA

After receiving the required approvals, Triton has legally finalised its acquisition of GEA Heat Exchangers, as part of a so called closing procedure. With this closing and with assumption of the activities of GEA Heat Exchangers, Triton takes over all companies in the former group, as well as all staff. From now, the heat exchanger business will be further developed, as part of an autonomous group, under the aegis of the new investor.

Christoph Michel, CEO, GEA Heat Exchangers Group said, ‘in Triton, we have a trustworthy partner that will strengthen and support our future activities. All projects and orders will be executed as accustomed, and our customers’ familiar and trusted contact partners in Sales and Support will now as before stand at their side.’

IGS CNG

IGS CNG Services and Speedway LLC has announced the opening of their CNG fuelling station in Findlay, Ohio, It is located at Speedway’s existing station at 3730 Speedway Drive, at the State Route 99 exit off I-75. At the station, there are two fuel lanes, with one solely dedicated to CNG. The partnership between IGS CNG Services and Speedway service a growing number of businesses that have converted their fleet to natural gas and are looking for easy access to CNG stations while travelling through the region.

MOL Group

MOL Group has signed a US$ 1.550 million revolving credit facility agreement with a group of 15 banks. The new facility refinances the 500 million Euro revolving credit facility concluded in April last year. MOL Group achieved through the deal highly competitive conditions with margin of 115 basis points. The facility has been arranged with a group of main relationship banks of MOL Group. The tenor of the Agreement is five years with 1+1 year extension options. The new facility further enhances the financial profile and the liquidity position of MOL Group and contributes to preserve its existing commercial banking partnerships while introducing new lenders as well.

Rolls Royce

Rolls Royce is proud to announce that BG Group has selected the Trent 60 DLE industrial gas turbine as the driver for the main refrigeration compressors in the proposed Lake Charles LNG Export project in Louisiana. BG Group and Rolls Royce have also agreed the terms of a long term service agreement covering the support and maintenance of the equipment for up to 25 years that will help deliver high levels of availability for this important LNG plant. Both the equipment and service contracts are expected to be activated in the first half of next year, subject to the US LNG plant permitting process and final investment decisions by BG Group and Energy Transfer, the developers of the project.

Each of the three LNG trains will use four Trent 60 DLE gas turbines as part of the Air Products C3MR refrigeration process. Each train will employ two Trend 60 DLE gas turbines driving propane compressors and two Trent 60 DLE gas turbines driving mixed refrigerant compressors for a total of 12 Trent 60 DLE gas turbines in the plant.

Velocys

Velocys plc has announced that the UK High Court has ordered an immediate injunction restraining CompactGTL’s infringing activities and payment of approximately £ 1.4 million to Velocys. Following the UK High Court’s ruling upholding the Velocys patents in suit and judging CompactGTL to be infringing them both, the Court has now ordered an immediate injunction restraining CompactGTL from infringing the patents or enabling, producing, or assisting any third party to infringe the patents. In addition to being used at its Wilton plant in the UK, CompactGTL confirmed to the Court that the same infringing technology was the subject of its activities with Petrobras.

Edited from various press releases by Claira Lloyd

Read the article online at: https://www.hydrocarbonengineering.com/refining/31102014/oil-gas-further-company-news-31-10/