CompactGTL signs Kazakh gas agreement

UK-based CompactGTL has signed an agreement with KazakhOil Aktobe for the supply of gas for a commercial gas to liquids (GTL) plant in Kazakhstan.

KazakhOil Aktobe is a joint venture of Lukoil, KazMunaiGas and Sinopec.

Located in the Aktobe region of Kazakhstan, the plant will take gas that would otherwise have been flared and convert it into synthetic diesel.

Engineering is underway and the plant is expected to start operations during 2018. The deal follows the signing of a memorandum with the Ministry of Oil and Gas of the Republic of Kazakhstan in March 2014 for development of the plant.

"CompactGTL's new technology will address the issue of gas flaring and produce fuel for local consumption."

CompactGTL's new technology will address the issue of gas flaring and produce fuel for local consumption.

The new GTL plant will contribute to President Nazarbayev's 'Kazakhstan 2050 Strategy', which aims to generate new sources of economic growth.

It creates a local technology industry that processes associated gas to produce fuels for consumption.

CompactGTL CEO Edmund Buckley said: "The agreement is a key step towards the commercialisation of this groundbreaking project, and demonstrates industry confidence in CompactGTL's technology and people.

"We look forward to continuing to work alongside our partners in Kazakhstan to deliver the world's first small scale GTL plant."

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