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Gold/Mining/Energy : Gasification Technologies

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From: Dennis Roth	10/24/2011 2:34:20 PM
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PGNiG looks to make huge shale-gas refinery investment 24th October 2011 wbj.pl The gas behemoth says it would need a partner to share the costs The new refinery would cost billions of dollars Courtesy of PGNiGPoland’s state-owned gas monopoly PGNiG is searching for a partner with whom it could invest in a new refinery that would employ state-of-the-art technology not used anywhere else in Europe. The refinery would produce synthetic diesel and aviation gasoline from natural gas in a process known as gas to liquids (GTL). The refinery may also be used to process shale gas. “It’s no secret that construction of the refinery is a gigantic investment that is beyond the financial capabilities of the company alone,” PGNiG deputy CEO Marek Karabula told Dziennik Gazeta Prawna. The investment would involve billions of dollars, Mr Karabula added. A company spokesperson declined to say exactly how much the scheme could cost. Mr Karabula said the financial cost would be worth it because the refinery would be a “great way” to process the shale gas the company hopes to find. “We are looking for a partner who will help us exploit the shale gas we will extract.” “In addition, production of synthetic diesel and petrol is a chance to improve Poland’s energy security,” Mr Karabula said. PGNiG is unlikely to launch the investment any time soon, since it is in the process of buying a 99 percent stake in Vattenfall Heat for zl.2.96 billion ($1.02 billion). “This will require the company to get into debt, so it is unlikely to make any big investments in the near future,” said Lukasz Prokopiuk, an analyst at DM IDM. GTL fuel has been available in Shell gas stations in Poland for two years now. It is characterized by its chemical purity and properties that allow it to burn more efficiently than conventional fuel. PGNiG has a total of 15 shale gas concessions in Poland, where experts expect large deposits to be discovered.

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