Technip and Sasol Form a Front-End Engineering Alliance for GTL Facilities
PARIS--(BUSINESS WIRE)-- Regulatory News:
Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) and Sasol, the owner of the world's leading gas-to-liquids* (GTL) technology, announce that they have established an alliance for front-end engineering services for future Sasol GTL projects. Furthermore, it also allows for Technip's participation during the execution stage of future GTL projects. This alliance, which builds on existing relationships, aims to achieve industry leading capital productivity, through the highest standards of HSE, operability, accelerated innovation and reduced project cycle times.
GTL technology is a process for converting natural gas into petroleum products such as naphtha and diesel fuel. These fuels are very clean with effectively no pollution-causing sulfur or aromatic hydrocarbons. The high cetane number of the diesel fuel will help meet future more stringent specifications. GTL technology is becoming increasingly important not only for the environmental advantages of its products, but also because it provides an efficient and safe solution for the transportation of natural gas. A large portion of gas reserves are considered unusable or "stranded" because they are too far from consumers and difficult to transport. GTL offers a way to convert stranded gas into petroleum products that can be transported and sold using conventional tankers, pipelines, storage facilities and retail distribution systems.
As the reference and main execution center at Technip for GTL, the operating center in Rome, Italy will be in charge of the management of the alliance including the strengthening of the long standing relationship between the Technip Stone & Webster Process Technology center in Boston, Massachusetts with Sasol Technology for the hydrocarbon synthesis technology section.
Nello Uccelletti, Technip's Senior Vice President Onshore, declared: "Through the acquisition of Stone & Webster process technologies, Technip has become the exclusive co-developer of Sasol's hydrocarbon synthesis reactor technology. We are proud to be Sasol's contractor of choice for its future GTL facility projects, thereby confirming both our leading position worldwide as one of the few contractors with experience in major GTL facilities and our long-term relationship with Sasol."
Lean Strauss, Senior Group Executive of Sasol, noted: "Sasol is excited about its GTL future. We are confident that in working closely together, the design and execution expertise of Technip will significantly further enhance the robustness of our GTL value proposition as we grow our business where our technology strength lies."
* Gas-to-liquids: transformation of natural gas into liquid fuels
Technip is a world leader in project management, engineering and construction for the energy industry.
From the deepest Subsea oil & gas developments to the largest and most complex Offshore and Onshore infrastructures, our 38,000 people are constantly offering the best solutions and most innovative technologies to meet the world's energy challenges.
Present in 48 countries, Technip has state-of-the-art industrial assets on all continents and operates a fleet of specialized vessels for pipeline installation and subsea construction.
Technip shares are listed on the NYSE Euronext Paris exchange and traded in the USA on the OTCQX marketplace (OTCQX: TKPPY).
Christophe Bélorgeot, Tel. +33 (0) 1 47 78 39 92
Floriane Lassalle-Massip, Tel. +33 (0) 1 47 78 32 79
Investor and Analyst Relations
Kimberly Stewart, Tel. +33 (0) 1 47 78 66 74
David Tadbir, Tel. +33 (0)1 40 90 19 04
Find us on Facebook, Twitter
KEYWORDS: United States Europe North America France Massachusetts Italy
The article Technip and Sasol Form a Front-End Engineering Alliance for GTL Facilities originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.