To: Matthew Cooper who wrote (2221 ) 3/18/1998 5:34:00 PM From: Howard Williams Respond to of 14347
neither a thought nor enlightening commentary....just a reference to GTL/processes/Syntroleum: >> Global Gas and Power TEXACO HAS AN ARRAY OF WORLDWIDE OPPORTUNITIES FOR NEW REVENUE GROWTH. THEY INCLUDE OUR GLOBAL GAS AND POWER'S EXPERTISE IN POWER GENERATION AND GASIFICATION TECHNOLOGY. THESE ACTIVITIES COMPLEMENT OUR NATURAL GAS ACTIVITIES WORLDWIDE, AND FREQUENTLY ENHANCE OUR PRODUCING AND MANUFACTURING OPERATIONS. STRENGTHS Our global focus enables us to bring increased value to customers across the entire energy value chain. In 1997, we formed Texaco Global Gas and Power to commercialize selected natural gas properties, develop gas-to-liquids conversion processes, and leverage our strengths in power generation and proprietary gasification technology, which reduce emissions and lower operating costs. 1997 PERFORMANCE In 1997, we agreed to develop the first gas-to-liquids plant using the Syntroleum Process (Registered). We also became an equity partner in a 276-megawatt cogeneration project at a refinery in Ancona, Italy, which is scheduled for a 1999 start-up. The project will use Integrated Gasification Combined Cycle (IGCC) technology under license from Texaco. In Indonesia, we continue to supply steam for a 55-megawatt government-owned power plant and have a 70-megawatt facility under construction. The same steam source was successfully expanded with additional drilling and has proven large enough to support another 70-megawatt plant. Two Texaco affiliates signed power purchase agreements for construction of private power projects: a 300-megawatt facility in the Philippines and a 700-megawatt plant in Thailand. At our California cogeneration facilities, we are installing emission-control devices that will benefit the environment by eliminating the generation of acid wastes. STRATEGIES We are growing our business in key markets by using clean technologies that benefit the environment, such as cogeneration and our gasification technology, through licensing and select investment. Our goal is to be a top-20 company in megawatt capacity by 2001.<<