17 January 2013 21:44 [Source: ICIS news]
HOUSTON (ICIS)--Texas firm G2X Energy is planning a $1.3bn (€975m) natural gas-to-gasoline plant in Louisiana, a spokesman said on Thursday.
The proposed plant in Lake Charles would make 7,500-15,000 bbl/day of 87 octane gasoline when it is completed in early 2017, according to the G2X statement.
The plan calls for G2X to make methanol from natural gas, then convert the methanol to gasoline for 90% of its production. About 10% of the output will be liquefied petroleum gas, or propane, the company said.
It is just the latest in a series of announcements over the past year that showed methanol as a target commodity behind plant projects seeking to capitalise on cheap natural gas from the US shale revolution.
A number of plant projects in the US Gulf have been announced, some with funding lined up and some that still need to raise more money, as in the case of G2X.
“We have not come to a financial close on that yet,” G2X spokesman Trey Fielder said on the Louisiana project.
A release said funding should be completed by the end of 2013.
The company is partnering with Southern Chemical, the marketing arm of Methanol Holdings (Trinidad) Limited (MHTL), which has five plants in Trinidad.
G2X will break ground Friday on a $60m methanol plant in Pampa in the Texas Panhandle with a planned capacity of 65,000 tonnes/year.
For the plant site in Louisiana, G2X plans to lease 200 acres at the Port of Lake Charles, the company said. An option for the lease will be signed this week, according to the company.
($1 = €0.75)
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