6 GaS.Tio -Liquids Emerges
From ,The Prilige And Takes Center @Stage
Sipic@o, itinmitig,Li breakthrough irorv on ill front ptige of our 0 ,
Oci, //. 1990, Issue. fliv ir7ierevt in ;(is-to-liqiiids (GTL) ftych-
@l don't iifct)iiferetives dedictited to (lie topic -ti@rryisted up 4ili@i,)xt o@-erstirhi apid several projects @re oil the ctis of p bet,o;tiiisg a reolilv. WOI correspondent Barbara Shook takes a r@etfiilld look at the GTL, technologist u@dittible and lit tviiat irtil@'ket.t the.v Pi@ay be iipplied
It's ilia modern version of the niedieval@ siclionilst's drtonl4 turning an,otber*ise worthless substance into a valuable product@ Instead or converting lead in(u gold, however, chendsts - and reflners - el the dawn of the 21st century %!Ill be converting natural gas lnt liquid traniiportation fuels. I'liL, process Is called gas.(04i4ulds (GTL conversion, and operating coinpiniu, onginitiring-constructlon firms, other energy-$'I cior iroups, and ilia investment community all see It as tile petroleum Industry'$ next paradigm shift. Trillions of coffee feet of natural gas around ths world, totaled too far from trinkets for pipelines to be an option or in quintities too imoil to suppoit liquefied naluraj gas (LNG) projects, can be convemed profitably into middle distillates, among ill$ higliest-inargi refinedproducts,'inan$lg-$20perbafftlerude oil acres environment, and before too 16n@ In a market as low as $15 a
bami@
'I lit most obvious loca'tio@ for ingratitude Ur GTL pro. . jo@1.5 tire ftm6to loca(lons where no Total I" b being nared, :Including the Nlideas t, Southqast Asia, AM"$ and ofuhar % pcrliokps the largest single markets an at least hall at the %vol@l ' it's discovered gas reserves erg Totaled beneath this seam. llhmed development of offshore and c@aii3 onsl)cre oil and gas proj'ecis present another 2ppliCatipli for OTL. A nual. ing tio- %kid-mouiiied unit could be Installed to allow Llm opera. tots ti, generate an early revenue 5trcam, while permanent p@ doctrine and pleasant isolators were constructed. The US and
with their well-developed pipeline infrastructure, will
have lower uliportuiiiiiesi but sotite do *fast. The Rocky mountain 4r",Whrrc pipeline capacity is limited and gas quill. iy is $onetime$ subblatidard, would be one.aption, as would locations in Canada'& Arctic region,
llollifcal factors $will lindt OTL spOUcAlluns In some oth. mr,A Ise suitable locations. Nigeria hall mmp!e potential, but rise and the dimculties of completing so LNG political proble
venture have discouraged GTL irrorts thus rat. other rei@uic Imalluns that lack pipeline outlets, such ai the Central Aslaii republics of Kaukstan wW Turkmenistan, also would be Santa candidat4is.onct their political and scenarios situations stabilize.
'I'lie mark
el) for OTLlj products it one Middle tiltfilla [es Firestone tiniest half of The woildls.refined products
ii.i gill (ilterpiatti,e to tire hot @fk@,P'ric@keted.
December I
ctlimuniptluii, some J6.niilllon barrels a it late demand, particularly for diesel In de, Is growing at a roster pace over all oil dot ronmentol adveiilogts are key selling pol reclurer. Bencii tests, pilot plant deinbristrit
c!Al production conclusively demonstrated ill 0 deriv
products are vle4mcr-burning,.yielding rewcr cm Si both
particulates and grdefdiouse gases, and are more onvironrnente&,i
ly haniiii lit tejicrig. Ddiiiatid fi)r so-t:ullcd "grecii Fuels" 10 expected to suax ill 6 pmt-KY64u environment, and coinpanifi@ that already have the technology will be in a petition to capital
@ , I
!so oil theii@ itivestinen(s quickly and Orufilably.@"Green tucle, also are expected to garner some price'preifilum3 in the markii from either higher sales prices or reduced tax levies.
The Players
The key players In the race to create a nev4 generation or CTL projects - Sholl's Dintulu Is the only one curre 'operaunial commercial levels - range from giant m ilonis to tiny niche technology companies. At one el
are global natural go coloul Won ind goyal'b
itch
Al the other sr@ Routwh, and Sym@itum, $milli us CTL prixm developers. In betwie@lais britkil Pstr the French Inatitut Franc lo du Ppgrole, South Al Sawl, and the Williams Cos. of the'@United Slat". each which has Its own version of lb* tlscber@ itchholelly on which'G7L projectm are be @severill proprietary process*$ also am [aunt c joint venguit partners. Texaco,,whic@ hall its ov iloh system, has licensed both the Renisch and prm asset. Arco, Marathon, Argentinii'ii YPF, a nearivig-coli$tmcuon conip"s also am Syntro Shall has'taken M &lay$!&'$ state-owned Peimnvj its next plant to be built In gangladeih. South hall joint vent4re arrangements with Norway's S ing OTL utdu and US Phillips Petroleum for a ansintering-construciion itikeh6liers inci Ensin"fins, Brow @n & ROM and Bee@tel Gro@ typicalp I , ntendi'to do its projection its i n. see @Syntraltum, and Brown &.Root plan jo @ick',x location to 2,500 b/d prototype OTL Otani otaiside the us la early 1998. r a
The Tecistiology
The basic ischnolou for prodimi'ag liquids from In
of
almost 75 years old. ALI lb* p@ la various $la$ development or operation now are adaptations of (hi w@ established Fischer-Tropoch chemistry formulated by German ociehikfs Franz @r and Han Tro@ In IM. The first generation of the lokhoulojv wall used ostensively
by Germany ovoids World War 11@to convert coal Into
transportation foob and Piero ronjitly by Sasof In Sftlb Africa In Its Coulson pisnu. The, problem preventing t application fin @ moww& Vow the development *Me
of advanced catalysts, umi based on cobalt, the process
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could iil)t Compete with ail priced below $30.$33 per barrel, Its uses to d@te have been limited to sl(utiiiotis where accgu (if crude all *as denied by economic or political embargoes.
Nliist of The s conversion processes ijit;ludc three steps. the
of gas f,efoniiing, converts methane into synthesis go$. a liliX(UfL' Of Carbon monoxide and hydrogen. The Tischer 'I'rDpSCII 5loge tran&(OrMS synthesis gas into wi;y hyOrp;cLrbons. plus a Smith amount of byproduct light hydroczu@bons and A@icr. The third stop upgrades (he wilxy hydrocarbons into niiddie distillates, primarily kerosine,, diesel, and gas oil, as well as naphtha, L)ep I ending oh plant conrigurailai), rerin r
y feedstock
iiiay be produced, rrlle three-step affangoincni also requires an
iiii separation plant that produces part oxygen for @ nIRAU[aeluic of synthesis gas. In addido6. the natural gas feedstock usul ally has to l@ hi$li quality; or what is cajlod "pipeline qu if) the Us. SI)CCincadons include a beat codient of around 1,000
Btu per cubic. toot and minimal ilmourits of impurities such n
@vi fur and cv bon dioxide.
Synirt)t@Tn's version differs by using ordinary almos.
plieric air lii'@t@nd of Puri oxygen to produce synthals gain.
')'he corn@a@y said that elimination at the air separation
plant redtic !a co;u ilgnlficantly, more thin Offniting any
lo)$$ In procon,tmclency. Syntmicum and Rentech also can
tiqc substand@d nat&al gas that contains either lower heat value
or.,%ignif ic;iiit percentages of nitrogen and carbon dioxide'..
Ctibalt-bASOd CIL(idyStg art Standard In WI the PrOC63348 txcispt .
entech. 3
Q( Sasol and R seat. howeo . said that it will
use cobal( @ttlysli in the ?text gameralivil of its technology,
l(gnt%h, whi'vh II retailing &different market ulrhen@ contiti. tici, to use iron-based catalysts because of their lower cost and stealer feedstock nexibilj!y,
I
Huwever',Lhs prqctsses differ, the product3l yields are Comparable, and (her include ionic of @ cl@not-buriiing
1)etrof6um.@osed substances ever manufactured. For exath-
life, file dioul quality, according to results or poll( l*ii4 for
CAteedi that or tire standards lb# @ouvrido Air Reaurm I)uard bps ujtmbliahed for "clean" direct. Its burning yields ii4i sulfur, ilyi aromatic, no metals, find no #artitwate emb.
I
siun4. Miny@f the cumpWc3 also hive seem their pmpdoty iii4Kcsses, " understi4dable move coraiden'ns the millions to tuitions of dollars invested, Bxxbc calls its technology AGC.21 rt-i advanced gas conversion for the Ilit century, and says it Title I)ut $25 P-niijlioo into !to efforts while registering 350 i@iltcnts, Shell has spent around $1.5-biilion on the development ,Illd Construction of lhc first commercial Middle Distillates
Synthesis or Mos plant, Saspl opted for a i6oiWc&Uy detemplive name. Slurry Phase Dis@114te Pmm. Synimleumjtml was ilg;:t)lporate liame@
'I'lie Projects
Shell'& BliilWu, Malitysis, plant has been operating since
1994p convector 100-MMOD cubic feet a dq (I.OXbiWon
tubic meters a yaw) at gas late 12v*0 bid of wat#4 @y
chemicals, and transportation fuels. Although Shel
I is
oiowhere near recovering Its, $14-bUlou Lov@nt, the mm.
Polly says file plant is OPIrIting Prontably. For ih&4 the co
ny Can thank the market to
p r so@e of I($ speclelil Products that can.ocit for as inuto as $100@m h' Sri
Sintulu plant, however. tj$U dlird-gcnerauud ltehiiology,
product slate for the pliutned hangli3dogh facility wli@.tise
generation Pr(Kcal that will PrWucg t 'Riv@li Iiigtgr prgo,
middle distillates. That facti!tx will itiaiiufilutilre SO,W
lilo$Oy trwispon&Uon fuels from about 400-iniiicf/d or Su. To Bilitul@ plant produces sonic liquid fuels, which roico hu beg4 importing for use as a blending stock in California.
The elP and scope t other projects in various phom W pladning and developrmat span the diversity of the *oHdi gas reserves. The most ambitious la a 100,000. bld
complex fhateuon wiubagd In Qm(ar. After.l,ingthy ifto
AflorW the cOll,PlknY is expected to 34 agrew
n a.pr@lbnwary
metal with slate Qatar General Pet '"team Corp. (i*CPC) -At @4
find the
the flni quoner or iggo.@ with a flnal agreement are
end of no Year. Cotiiuucdcri wo Ing
St old begin the follow
with i@-up likely around 2001-20022PtbjiKt6d cos
lure Is 4Lri*nd $2-bi@ion. The state df Alaska wan
Plant
toiwwoi a CTL for the North Slope lo monct ft 3Nrdflon co ft now urexplolied t@r lack of a in
outlet. Exxon is it* largest go owner in Alim
&Ili[ iia@ as the preferred c n part'hscow
ihvo.lys prodtwoon of at least cfid,. while a
GTL plant would on aWy around 400-mmcf/d.
SaW Is also developing a projft@ In Qatar. Al.20,000, Id
b
0"4"
It Is only a hctibh of An of Eiison't pro
but It to much tufthir along In developm ent. .4 1 : Etal. 0
Intent with QGPC afrudy hu been leaned, d a drnnitiv
ag@t Is ex led I.Ioly Reset Year. Coo of The IWO.IFWN
PK
facmiy'k estimated at about $800-94111*n, with Aut-tip
slble as early as 2000-2001, Phillips Pstmitum Is a partner in
the vsnluta. Although Phillips is an tablishej lead" in a as
technology and has an expanding internnuonai Su strategy. it opted for a strategic alliance in GtL technology. The eemp"y,@ said this was a more efficient means of participating in GTL projeciathan@nitodgvele lisaw@'appUcation.
p 4
Dgfb the Exxon end the Bawl-PhLUJpo prOjeeW or* slated for IN Ru UMa lndustrw coastal and @wfli p@ gm -pradveed rrom Qatarli Nwth Fle)4, the largest offshore Saw Reid yet d@wW, With $OM* SO&IIIIJIDD tU ft Of largely
unexplatted rmrval Qata views C;TL as an other component in its ja monedudbn portfolio that will diversio its APFUcations beyond LNG and Fg6wbeiWcWs.
The next projkl to kOn commt'rcinl operatigo b mlqw
cut* comparvd lti the thanive facilltin planned by Simi],
Exxo* and $uW,Aeniocb aod,n'lmal Partner are
bbwo what had been a pilot profit tested to Colorado to
prodon fndushw *use In Arunachal Pradesh In lz4L Its
cupidity Is $,liters 350 bid. 'I'lle feedstock will be $as flow !it;
In @asism lndil IU plant will yield small volumes
of t&nsporftdon fuels, which are in high demand by die local
market. Sun-up is'expwwd by Use end of line year, @4@,
@@4 @
syntrob" is only mw bWhUng a prior plena a 70 Wd
unit to be constructed it Amoos refinery agar jkwn&^ i
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a Lt. Title -will be Ili@ largest, lost to de(@ of ii.@ tu ltno'iogy, Neverlhele$4, (he Company UlfOgLIY Is Plan. ililig wo collimarcial-scile ventures, In purtiierslilp with and Brown & Ruo@ Syntrolouni lo constructing a
Oructisiivg unit ror use ill an undisclosed liiieriiiitional location. The $75-millick) facility la expected to
51@ill 1, in itiu third quai,icr of 1999. The other is a pro@ect
S%ni Ileum will do in pani@crship with several Rocky Mountain
sea i 5,000 bld plant in Sweetwater Cbunky,.
N%'yt5iiiiiio, is to @onvert natural gas to middle distillates. rils
@oNt t4',such a fivility would be about $100-nilllio@.
Staloill$WNol floating OTL alliance, formed in April,
2000 "at (ha Very earliesi," but
VI offshore Norwegian mserves. Oil
ri could 6 developed without the necid
It 5 to continental Eura Pa.
lo considering an even larger GTL
1) &solve natural gas dlicovsries II has
In be ort Iiiiiitlc Marlin$ west of the Shetland
Islands Industry sources tell WGI that 'the company and
partners ConL%(j and Total us taking at a c iiiplax that could piticiis up to 2-her/d into 200,006:b/d of rmddle distillates, @ioba@ly.@ear Caithness, Scotland,
Coti@tritetiott, atid Operatitis EcQnorioics
The lirofitabilify of a given project depandm on a myried'of ratiorn, which in @niany mm ore location s@.,'Dm facterm Include capital cog% gas costs, product revenum final regmi i)t the host pyortuvion@ on stream thiie In the early )lei rg,lniid bi-produ@ such as water and Power Befieratiom According to a S@,11 orecudv4i, @'It'i'not one Single magic bullet that m@ikes a project fly," The most critical variable Is feedstock
in a $20 a barrel oil crivtmnmon@ Om
na to be around Soo per thousand co ft the equivalent all price would have 1. litm asaino locatio-specino factors
could @6I)port a price somewhere In between. Nevertheless, an exccu4vL with the traitor Fmmais du Pctmls says, @"Above $I pci M@f. It may be better to review another projpct."
GTI, reinjects *to expemive - more than twice as COSUI as conventional crude oil refineries on a per barrel but& Current costprojeclionsore in therangeor$JS,M$3040 a barrel of capacity, compared to 810 000415,000 a barrel or cikpacii7 ror grainfield retineries@ Ye4 an an overall canstruciiiim and operating [James, GTL plants compare very favorably with LNG and much better than :Onvvntional refineries. A study by Investment hiinking,nim Morgan ,Stanley showed that GTL projects gencested,st 12% Inter., nal rate of return, compared to 14% for LNG and 6% for ail refining and mkrketing. Shall confirmed LhAt OTL projecto criuld @ield a doubic-dilit rate of return assuddng S20 a barrel oil ' 50@lMof gas, and capital costs of $25,000-330,000 a bum[ ot Capacity. IU Morgan Stanley study did not include any p@ miu in for the higher environmental quality 6( the transpiration fuels produced, bu@ many project sponsors us *;tpccting to reap
Doeimiber 19, leer
between $2,Dtid $5 a barrel above the @rict Of conventional
middle distillates,
fit$ Murgoiii Stanley study also noted that U'l-L projects. have Shorter construction load times than LNG Facilities shoot two years Instead of three. LNG requires a more cum. plicated marketing effort, with long-term Salem and fixed pricing terms determined before Financing can be arrmng*d,
Nowprojecti cati be. developed with shoricr.
lead (active thoill LNG tortraitialo, atidpr'ovide
fewer marketing headaches,
The structure of in LNG venture is considerably -more c6mplicated, involving one or more joint vahtuiis of products, Soy-
ammonia, shipping companies, and custem'sm. LNG Is also Iiin-
ite4 to 4 single transportation elitism - Cryogenic tankers
ror larin-volume, lorig-haul deliveries. OTL prbduut3 can be sold Into existing Markets and uwaported in co6vc6U6nal Clean product @ken, pi polints, or barges. LNG projects also require a.larger reserves base, about 4-t@f, according lo $bell. compared to 2-iot ror a 50,OW bld OTL plant.
Syjtlroleum claims ilial small barti3- or skid4m6unted OTL processing tralm with a 2,500 b/O emp@city4ould be Installed at locations with imrvo of as @low is 50-bcf, then rciocolw to other locations when those $As deposits were exhausted, While Oit per barrel coal would be higher, possibly up lo S40,000 a barrel of capacity, projec!.Ipecitlc, 6conoffuca i'nd multiple uses of the same facilities co6.ld make such plants feasibls. The barse-inounted unit that Syntioleum, Texaco, and
Biciwn & Rcmt are building in Europe is a cast in point.
One positive advantage (bat LNG Pfojku Should continue
to he" for loans fte lo Wow efficiency. LNG has an 85% thermal efficiency radelb wlih'ordy 15% of the oner-
rS content last in cany@*: @@doii, slid re@I
tion..GTL him only a 600 thermal ooklency raiir* However. the higher value of the products and lower 'CapiW costs for co $trueness and operation morf'ihan offset the efficiency loss. Overall, contractors and pmjoct sponsors say that nwm experience will be Saind once a variety of commgmial-scals OTL p rojec.. are running, with efficiency gains wA technology impmvem@nu aniiiges LNG now onj alintittaUtiS within five years any adv
They note that SheU,s Bintutu plant east &hoot $70,Wda.buml to consumers but Om @.p@090 fimuidos now in development
have a costs of less than $30,OW@
Technological aitd Economic Cliallefigis
a
Boorly:indvsiry iitd engineering-constructlon xecu.
lives both slim that costs must be cut further before OTL technology becom". an tstablishod operate for naturalism Aerate mtnL-.The gratai opportunitlem ere In the gy"LnEp
sis @production stale, which @prosin4 40,% of the cap[lot calm of a projttt. One opportunity already identified
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develliprhont or ;ra@roved membranes to limit entrance of unwlitited molecules into tile process $[room. Another option is a system like Syntrolgum'5 that eliminate& tile need for an air qcptiitition plant or one I n development by California-based
ti permit dirt:i;l I)AIdatiun . at gas in the cal,ilytion that wo id
Fiicliet-Tropscli stage. Improved v',Itaiy5ti in the Fiii:her. h
-rrol).ich $into would'@telp slightly, but would not offer as MIJO
in sti%,Ings further Li@ tile chain. A group comprises of BP,
Praxalr. Sasol, Ani@i), und Staloil is also working in improving tile ceramic iiiei)ft6rillic,@
Olle Closely WatL'Iiod research offo rt Is being conducted
by a lisirinerslilp of the US Energy Depart evil and Air
ProtlutU and Chemicals Inc; Their $"milliono eight-yeet program is sbiled at developing an Improved ceramic meanbratte, Jr successful',, the ceramic membrane would eliminate the lived for a separate facility to produce the pure oxygen reqijlitd and retiuce@the overall cost of a 4jTL plant by 25%. Taxii.5-based Air Products says that the ceramic membrane Is much iiiors seli!i;tivei in what it allows to pass through than the
"I'his'picifire ii either too good to be true...
or it is truly @/10 stuff of which mosaircrids
ate made."
bettor-kno*n polymeric membransi, Those transfer one cornpdnciii, such as oxy ipn, at a higher rate than others, but they do not prevent migration of unneeded or unwanted products. Ceramic units in this case would permit the trinsrat only or oxygen and prevent hitrosen ftr6 entering the Ormosi't stream. The (IAYBGN Would than be combined with ilwacus methane III the partial oxidation step to form a synthesis sea of carbon monoxide and liydmsan to go into the Fischer-Tropsch stage.
Tits DOE-Air products project Is also to Include three last plants of 130ow cVd, 000.000 aPd, and IS-ndlUou oVd capse. items. TM last unit, a pmcotnmercilkl facility. is to be built at Ak Producti' ind%istrial tas complex at LO P6rto,.Texam, near tiousion. The DOE is. to copoibute S30-million to the effort,
lo A@ Products and associates am to provide $54-mUlich.
Gas,Supoly Quostion
N.I..l , supplies are hot comidered an economic corn corn. Ample res*rya tire known to exist both lbr LNG and GTL projkts.no' ' Cholce wW depend an the ecoomcs of a giveik project and the beef market for the. product & LNGIS bigger competitur@t the market end Is coal in Uit power. generation sector, particularly In those and @ GTL#ls competition will come from expansion of conventional ref[iierlem. Market development itself is somewag developers of both types of projects Pn watching cloisly, particularly in Axis. A slowdown Ili then conqndga will automatically reduce dettiand growth. which could cause some projects to b , a deferred for several *m, if not camcfed contents, A concern
Page to
that Is met*, tooiiiniii [ban global in. scope is how On- projects
ugh increased supplies or will affect fefining economics i@hro
Iiiproblem in Asia. middle distillates, While this may not W
where demand for diesel and other distillates @IS hamburg it could have significant iitii)uul in Lurupe, wilert.- aiiirkt:i growth Would not absorb the output from a mega-pimt or tire site TeX OCO is considering for Scotland,
lyivestmetit rolylMUnity Interests
If @it ndance of a recent aloohiberg-sponsured conferenft Is any Indication, Well Stmi la very interested In GTL lnvolnnnt opp6rtuWiioo. Scores of lnvoinitist bankers and socaritw@ analysis o(tended lbq@daylonj met(ing, Reeking for piece to put their ind'their cHeaLs' funds, Tile investment community Is particularly Interested Ili he dipuriol GTL plays of Syntraltum and ltentoch betaus@"IGTL represents each company'$ whole,bosinm. For organizations the size of @on and Shillo even mwtlbdliun.dollor 411turm.repre"nt only a amon part of to4al gicavitl% end lb*' value of an lndi. viduil project to a given owner Is border to quaiitlfy Rentech, whose comrmn stock is listed on the Nasdaq market, la the only direct invssime6t opportunity in the OTL business. SynWloum is act publicly traded now, but liid@ect Investment opporlurddta do exist, SLH CoqL, a Nudaq-tisted ve@tum-em pilet concern bued 16 Shawnee husiloit, Kin'sits, oivris 31% of Syntmloum. IntemiUngly, Shell also owns an indirect InLcri!st in 5yowNum, through its invosh*nt in Criterion Cal4yst, %iiich owm a 2% s@ Ili Syntroleum. This puts Shell in the Ulli(Itle role of,having positions in @u different (ITL.technologics, its own and Syntmlp@m's. Potential invas@ W@D Want 10 perfect.
poll in OTL devttlopment;&q take haul from4dw likely proilwet that Sy6imigu'm will mL%o an trader. public otraring of its ck)nl. man stock, possibly all *$fly is the firiliquitrier of 1998. Pfms& would be und. in pan, to fund Syf'itralium's planned wyoraing Project.,
Conclusion
Attar 75 yeikro, lb@ Ybchot%Tropach Process ap&* be atk Economically Home apdo6 for monetizing gm. Sholl's third@gencratlas technology Is runaligl'profliobly an $in oponlJr4 be" mrid the pilot and prototype Plants run by Exxon and Imi@bave d'awspitated the @yqvior mmmics of The fourib-soneratioet k-chikolosy.'Me products are bigbly fungible, fully treaspeded@ and completely damo4lible with the world's oxkdq r"ag and marketing lntrugnic.
toy& IU time for "gresti" fuels Is extremely pmpidous n joy. orrannts, copium . erg, and the indusuy wroole with the pollu-i tiori-f@on goals of the KyW* conf4finc@. In the words of Syntroloum President Muk Aloe. "TWi p@tuto Is either too good to be Uwe, which w 0 ce@y do not @B $vs. or It Is Rely the stuff of %*hkh annealing am mads. That we do believe."
And with dw mons@ corn anies such n Exxon, Sucl, Shell, Texaco, and others indicate they us willing to spend. It is apparent doy share ow smile ids4.
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