HOUSTON and NEW MARTINSVILLE, W.Va., Oct. 9, 2018 /PRNewswire/ -- Primus Green
Energy Inc., a gas monetization company that transforms any natural
gas (including flare gas and natural gas entrained with
C02) into methanol, gasoline, and diluent, today
announced plans to finalize development and delivery of a modular
160MT/day methanol plant in the Marcellus shale region near
New Martinsville, West
Virginia. Primus plans to partner with Jereh Oil and Gas
Engineering Corporation (Jereh), an international, integrated oil
and gas company specializing in Oil and Gas Engineering,
Procurement, and Construction (EPC) services, oilfield technology
services, and equipment manufacturing, to execute the project.
Production from the plant is slated to begin in 2020.
"Primus has long-envisioned development of a methanol plant in
the Marcellus region, but it is our relationship with Jereh and
other strategic partners that has resulted in substantially
improved economics and will allow us to move the project forward,"
said Steven Murray, Chief Executive
Officer of Primus Green Energy. "With gas supply and methanol
offtake agreements from an integrated oil & gas company,
assistance from Sumitomo Mitsui Banking Corporation to arrange
project debt financing, and design work by Koch Modular Process
Systems, the project economics are very strong."
Primus's STG+™ technology was developed to use a wide range of
natural gas feedstocks, including wellhead and pipeline gas, dry or
wet associated gas, "stranded" ethane, excess syngas from
underutilized reformers, or mixed natural gas liquids. Production
areas with stranded and associated gas are an ideal potential
market because many areas lack traditional natural gas pipeline
infrastructure, especially in remote locations. The creation of
local, 'in-basin demand,' enabling the monetization of gas
that would otherwise be stranded or flared, is a breakthrough
application.
"Jereh's world-class fabrication, engineering, and delivery
capabilities, make them the ideal collaborator for this and future
projects," said Murray. "The low-cost, pre-engineered modular
units are to be fabricated offsite by Jereh and Koch Modular
Process Systems, then transported to the project site for final
assembly, enabling rapid delivery and expedited construction
time."
Primus's process has been rigorously validated through over
10,000 hours of operation at its scale commercial testing plant in
Hillsborough, NJ with reliable
production of commercial quality products that meet or exceed
industry quality standards. By comparison with other technologies,
Primus's patented STG+™ process holds many key advantages,
including an ability to process a wide range of feedstock natural
gas qualities (C1 through C12), record low capital and operating
costs, high liquid product quality, zero wastewater, and unmatched
process simplicity. These advantages result in STG+™ technology
being uniquely economical at all scales, starting as small as 6
mmcf per day of feed gas. Primus holds seven patents that it
developed to control the technology along with a number of
additional pending patent applications and proprietary methods.
About Primus Green Energy Inc.
A global leader
in gas monetization technology, Primus Green Energy™ delivers
solutions based on its STG+™ technology. Headquartered in
Houston, Texas with a commercial
testing plant in Hillsborough, NJ,
Primus has facilities for design, engineering, operator training,
and remote operation, as well as R&D and catalyst development.
Primus is committed to continually developing new solutions and
applications – as well as to advancing the existing systems – in
order to meet customers' unique business needs. Primus Green Energy
is majority owned by Kenon Holdings Ltd. (NYSE: KEN / TASE: KEN).
For more information, please visit www.primusge.com.
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SOURCE Primus Green Energy Inc.