Sinopec and Syntroleum Announce Grand Opening of Coal to Liquids Demonstration Plant
marketwatch.com
press release
Aug. 1, 2011, 8:01 a.em. EDT
80 Barrel Per Day Plant Fully Operational
TULSA, Okla., Aug 1, 2011 (GlobeNewswire via COMTEX) -- China Petroleum & Chemical Corporation (Sinopec) /quotes/zigman/269314/quotes/nls/snp SNP -3.14% and Syntroleum Corporation /quotes/zigman/74066/quotes/nls/synm SYNM -9.01% announced today the grand opening of the Sinopec/Syntroleum Demonstration Facility (SDF) located in Zhenhai, China. SDF is an 80 barrel per day facility utilizing the Syntroleum-Sinopec Fischer Tropsch technology for the conversion of coal, asphalt and petroleum coke into high value synthetic petrochemical feedstocks.
Sinopec and Syntroleum entered into a technology transfer agreement in 2009. As part of the agreement, Sinopec relocated Syntroleum's natural gas fed Catoosa Demonstration Facility to the Zhenhai Refining and Petrochemical Complex in Ningbo City, Zhejiang Province in China for joint technology demonstration and development. Upon successful completion of the Zhenhai program, Sinopec intends to build commercial scale coal and petroleum coke based Fischer Tropsch facilities using the Syntroleum-Sinopec technology.
"We are pleased to be working with Sinopec on the SDF," said Gary Roth, President and Chief Executive Officer of Syntroleum. "This facility will make a significant contribution to the global endeavor to pursue alternative feedstocks for growing economies."
China Petroleum & Chemical Corporation (Sinopec) is the first Chinese company that has been listed in Hong Kong, New York, London and Shanghai. The Company is an integrated energy and chemical company with upstream, midstream and downstream operations. The principal operations of Sinopec and its subsidiaries include: exploring, developing, producing and trading crude oil and natural gas; processing crude oil into refined oil products; producing, trading, transporting, distributing and marketing refined oil products; and producing and distributing chemical products. Based on 2010 turnover, Sinopec is the largest listed company in China. The Company is one of the largest crude oil and petrochemical companies in China and Asia. It is also one of the largest gasoline, diesel and jet fuel and other major chemical products producers and distributors in China and Asia.
For additional information about Sinopec, please visit the Company's website at sinopec.com .
Syntroleum Corporation owns the Syntroleum(R) Process for Fischer-Tropsch (FT) conversion of synthesis gas derived from biomass, coal, natural gas and other carbon-based feedstocks into liquid hydrocarbons, the Synfining(R) Process for upgrading FT liquid hydrocarbons into middle distillate products such as synthetic diesel and jet fuels, and the Bio-Synfining(TM) technology for converting animal fat and vegetable oil feedstocks into middle distillate products such as renewable diesel and jet fuel using inedible fats and greases as feedstock. The 50/50 venture -- known as Dynamic Fuels -- was formed to construct and operate multiple renewable synthetic fuels facilities, with production on the first site beginning in 2010. The Company plans to use its portfolio of technologies to develop and participate in synthetic and renewable fuel projects. For additional information, visit the Company's web site at www.syntroleum.com .
[snip] |
