HOUSTON (ICIS)--Calumet Specialty Products is investing in a joint venture to construct a gas-to-liquids (GTL) plant in Lake Charles, Louisiana, the company said on Monday.
The plant will be owned and operated by the joint venture Juniper GTL, which is co-owned by SGC Energia and Great Northern Project Development. Calumet intends to invest $25m in exchange for an equity interest of approximately 22% in the joint venture, the company said.
The Juniper plant is expected to produce 1,100 bbl/day of refined products, including waxes, drilling fluids, distillate and naphtha, from natural gas. The plant is expected to cost $135m and be operational by late 2015, Calumet said.
"This joint venture offers Calumet the opportunity to lead a growing market that converts lower cost natural gas into higher value liquids," Calumet president Jennifer Straumins, said in a statement.