Greyrock Energy, a company whose strategy is to transform natural gas into premium transportation fuels, announced on Nov. 4 a final investment decision (FID) to deliver one of the world’s first small-scale Gas-to-Liquids (GTL) facilities.
Located near Houston, the plant will be commercially operational by the end of 2015. Greyrock targets midstream operators and producers who can profit by transforming abundant, low-cost natural gas into higher-value transportation fuels without the costly, large-scale processes that are typical with traditional GTL solutions. The project is being funded by a consortium of investors led by Dallas-based Sterling Private Capital and Eagle Oil & Gas Co.
“Greyrock is proud to announce with our partners, the kickoff of one of the first small-scale GTL production facilities in the world,” said Robert Schuetzle, CEO of Sacramento, CA-based Greyrock. “Greyrock has built a modular conversion platform that positions us to deliver this facility and additional small-scale GTL systems worldwide.”
Greyrock’s facilities produce premium synthetic diesel fuel from natural gas or natural gas liquids (NGLs) using the company’s GreyCat™ catalyst and Distributed GTL (dGTL) solution. Modular gas conversion can be achieved from a variety of abundant gas sources, including natural gas, NGLs (such as ethane), stranded gas resources and associated gas.
“We believe Greyrock has the most advanced platform for small-scale Gas-to-Liquids conversion of natural gas into high value liquid transportation fuels and we support them in this vital initiative,” said Art Harding, CEO, Sterling Private Capital.
“In addition to conversion of natural gas into fuels, we are very excited about the opportunity to convert NGLs, especially ethane, in geographies where ethane pricing is depressed and a challenge for producers to deal with,” said Pat S. Bolin, chairman, Eagle Oil & Gas Co.