"In which case maybe Meridian will keep their BTA with LNG Ltd a...

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FrankMe

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16/09/17

00:26

Post #: 27259449
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Originally posted by lilac ↑

From The Society of Petroleum Engineers' PetroWiki website;

'As with all new technologies that are not commercialized, CNG faces the first-adopter syndrome. It has been difficult to put a project together that is financially attractive and at the same time not too large to be considered too risky to be the “first mover.” '

http://petrowiki.org/Compressed_natural_gas_(CNG)

Exactly the scenario that came nervously to mind over the many years I've held LNG. The fact that their OSMR technology was untested commercially. Ironically it has been Meridian (only) who several times committed to a smallish BTA, with LNG. Yet by their being prepared to be "first-movers" with committing to an offtake with OSMR hasn't helped flush out a second and a third over at Magnolia.

So the ??? are in my mind here too with Maurice's latest venture, (GEV); whether the owners of stranded gas, together with potential offtakers, (other than Port Meridian itself), will sign in a leap of faith sufficient to get GEV to financial close, and commence building SeaNG Optimum class transport ships.

Meridian's proposed plant off the UK west coast appears to me to be flexible enough that it will take either compressed or liquified, however to build a floating regasification plant would rather defeat the benefit of setting up for the much cheaper process of receiving CNG at all wouldn't it?

Or is it technically feasible to couple your CNG vessel up to the same discharge facility and pump CNG through the same lines as a previous LNG tanker, of course by-passing the re-gasification process?

In which case maybe Meridian will keep their BTA with LNG Ltd a little longer.....
...and Frank, I'm not sure Cap'n Brand was ever properly retired as such. More like temporarily marooned after being cast adrift from his LNG

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"In which case maybe Meridian will keep their BTA with LNG Ltd a little longer.....
...and Frank, I'm not sure Cap'n Brand was ever properly retired as such. More like temporarily marooned after being cast adrift from his LNG"

Arrr there shipmate! 'twas said in jest, with tongue firmly in cheek re: Cap'n Brand actually 'Retiring', as i don't think 5 mins in a Deckchair sipping Rum and Ice in a Houston office actually counts as 'Retired' these days, let alone 'Marooned' more like jumpin' ship like Cap'n BirdsEye, as he already had plans for another 'Fish to Fry' with CNG perhaps ? Who knows ? Have to ask the Cap'n next time i bump into him at Sea. Nice to see you doin' ya' research before joining the other shipmates already onboard ! Don't forget to check below for Bilge Rats and a Dead Man's Chest, after all, who knows what you might Dig up down there, maybe some Pieces of Eight if you're lucky, if not it could be the Kraken for you my friend, shiver me timbers !

Will Turner: This is either madness... or brilliance.
Cap'n Brand: It's remarkable how often those two traits coincide.

Cap'n Brand: When you marooned me on that god forsaken spit of land, you forgot one very important thing, mate:
I'm Captain MAURICE BRAND.

Cap'n Brand: Palaly, palalalaloolay, parsley, parsnip, par, par...
Pintel: Parley?
Cap'n Brand: That's the one! Parley!

yo ho ho!

Cheers

First mate Frank

GEV Price at posting: 17.5¢ Sentiment: None Disclosure: Not Held
3 Upvote

0 Great analysis

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