LNC 0.00% 99.5¢ linc energy ltd

AGM presentation., page-22

  1. 472 Posts.
    Umfundis - I don't read or speak Polish so this is the translation via "Google translate".

    One other point- This mentions Adam Bond and someone asked if Adam Bond was still with LNC and either Peter or Craig said "yes he is in Poland now".

    "
    Saturday, November 29, 2014 (02:00)


    Underground coal gasification is a lucrative business - says an Australian company that covenant to the entrance with its own technology for the Polish market


    The problem is that there is no relevant regulations in the law of geological and mining, and around the same technology is a series of question marks. Australian company Linc Energy is in talks with the ministries of the environment, the economy and foreign affairs on the implementation in Poland developed its unique technology of underground coal gasification. Looking for a business partner in this venture of state-owned coal companies.

    - The main obstacle to the implementation of the technology UCG (underground coal gasification) is the lack of definition and the relevant regulations in the law of geological and mining - said Adam Bond, a representative of Linc Energy, presenting the technology at an extraordinary meeting of the parliamentary commission on. Energy and raw materials to electrical. Said that the company wants to invest in the project 600-700 million zł and produce 200 million cubic meters. of gas per year. However, the Ministry of Environment wants to first invested in the installation of a trial, and then the government will think, or adjust the rules. According to Bond, invest 20-30 million dollars. to the test with no certainty whether it will be legally possible commercial implementation of the technology is too risky for the company in terms of business.

    Coal gasification is a technology known for over a hundred years, but it was not widely used, because it easier and cheaper to obtain a natural gas. There was also a need for gasification of coal underground, until she went full steam exploitation of this resource using traditional decks higher altitudes.

    Today the situation has changed. Proven natural gas reserves are running out, extracted ploatowane mines closed, leaving some of the resources under the ground due to lack of profitability of mining, and the state - as the length and breadth of the world - leading game geopolitical and military, seeking to secure energy security. Therefore, from the end of the last century, we see "come-back" underground coal gasification technology. Further improvement are carried out on a large scale in the United Kingdom, Australia, the United States and China. In Poland, is engaged in the Central Mining Institute and the Academy of Mining and Metallurgy in Krakow. This year, there developed the technology used experimentally for gasification of coal in a enclosed mine, "Wieczorek". Managed to keep burning under control, but the commercial exploitation of the project is still a long way.

    The main problem of the prior art technology is that they are too expensive, and the gas obtained by this method - too expensive, especially given the decline in natural gas prices on world markets. Of course, price relationships may change, but the problems with the underground gasification is more, eg. How to reduce the carbon dioxide content of the resulting syngazie and what to do with carbon dioxide, and prevent future damage in burned-mining resources. Technological race continues. The representative of Linc Energy has admitted that Katowice Coal Holding, has signed a letter of intent with the company, then retreated to cooperate with the Central Mining Institute.

    Developed by Linc Energy applies to gasify deep coal seams, which mining on the surface by the conventional method is uneconomical. Requires execution on the surface of the coal bed vertical well with a depth of 500 m to 2 km, where mining cable installed, insulated from the aquifers. In the lower part of the cable is installed ignition and oxygen supplied horizontal hole. After adjusting the ignition process begins underground coal combustion, whereby the surface comes out syngas consisting of carbon monoxide, carbon dioxide, methane, hydrogen, and nitrogen. Syngas must then be zmetanować and desulfurize, resulting in a natural gas ready for distribution.

    So far, the world they are two installations Linc Energy - one in the town of Chinchilla, Australia, on an experimental basis, the second, commercial - in Uzbekistan. The statements of the Bond was not clear whether the latter is a brand new installation, or in terms of improvement in Angren soviet device that Linc Energy acquired in 2007. Together with its wielding wells. Installation in Angren for 50 years provides to the local power derived gas by gasification of brown coal. Linc Energy covenant is now up to five new investments, including in the United States, Ukraine and Tanzania. He also leads a conversation with the Hungarian Government. A representative of the company has ensured that its technology has American security certificate for the environment, is profitable and is suitable for commercial implementation.

    - The cost of syngas production by this method at the outlet opening is between 1.83 and 3 dollars., Cost zmetanowania a further 4-5 dollars. per megajoule. It pays off, since the price of gas in Poland is 11-12 dollars. - Bond enumerated.

    What about security?

    Bond assured that Linc Energy technology allows to keep the combustion process under control at every stage, and above all - to extinguish the bed.

    - Do not use the open mines of oxygen from the surface. Our drilling deposits located deep concern, for which there is no oxygen in addition, that they deliver - explained. When asked about the risk of escape into the atmosphere of toxic gases, especially carbon monoxide and sulfur dioxide, Bond said that the key to safety is the use of high pressure at great depths (at a depth of 500m natural pressure is 50 bar) and control the amount of oxygen supplied to the pressure developed the combustion process is kept below the natural pressure. The behavior of these proportions provides installation tightness.

    Coal gasification technology has many opponents. Organic portals can, however, find the information that in Australia banned the company Linc Energy extraction on an industrial scale until you can prove that you can safely close the installation without pollution of groundwater. Doubts regulator also associated with whether it will be possible to extinguish the burning bed.

    "In response to the attempt to regulate the company Linc Energy announced the closure of the plant in Chinchilla and uptake in other countries, such requirements niestawiających" - you can read in the article Bernard Swoczyny "Hell on Earth - underground coal gasification", published on the portal Earth at the Crossroads. The author refers to the publication of "Fire in the Hole: After Cracking Comes Coal". So certainly the environmental topic requires further clarification.

    Members of the committee heard a presentation by Linc Energy's representative and asked many questions. Authorities committee decided to apply to the competent ministries of opinions on the UCG technology, and then come back to the topic.

    Linc Energy is a public company listed on disallowed in Singapore. Valued at 0.5 billion dollars. In Poland there are currently only its representation in Krakow, which consists of 6 people. Ultimately, the company wants to hire 500 people in our country.

    Margaret Goss

    our Diary"

    Looks to me as if the Polish Govt is no fully convinced on safe viability, but then this is only 1 journalist's take on the subject.
 
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