Linde forms global alliance with SBM

Linde has formed a Global Alliance with Single Buoying Mooring Inc. (SBM) to develop and market Floating Production, Storage and Offloading units (FPSO) for the growing Liquid Natural Gas (LNG) industry, based on Linde's proprietary natural gas liquefaction technology.

After having finalized a generic concept for a LNG FPSO with a yearly capacity off app.2.5 million metric tons of LNG, global marketing efforts will start as of today. The FPSO is designed for any conventional natural gas composition and aims at offshore natural gas fields with recoverable reserves of 1 trillion cubic feet or more.

SBM among other things contributes marine technology including hull and LNG storage tanks system, power generation system, mooring system, cryogenic offloading systems and FPSO operational experience.

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Posco to begin construction of captive port in Orissa

South Korean steel giant Posco would begin construction of a captive port a year before actual work on its 12-million-tonne steel plant begins in 2009.

Seeking quick steps for removal of hurdles in land acquisition and mining lease, Posco-India CMD Soung-Sik Cho said that the company would start work for its captive port early next year, while construction of the proposed steel plant was expected only in 2009. Admitting that Posco-India was yet to be handed over a single piece of land out of the 4,004 acre required for the project near Paradip, demarcation of 193 acres of land was likely to take place by this month end.

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PetroChina raises Nanpu potential

PetroChina has said that proven reserves at its Jidong Nanpu oilfield in north-east China’s Bohai Bay could eventually rise to 2 billion tonnes of oil equivalent.

Including reserves from onshore, the ultimate proven reserves of Nanpu oilfield are expected to hit around 2 billion tonnes. The Nanpu oilfield has combined proven, probable and possible reserves of 1.18 billion tonnes of oil equivalent, the Ministry of Land and Resources certified in August. The present proven reserves are certified at 445 million tonnes oil equivalent. It may take approximately five to six years to confirm the new reserves, and exploration efforts will be made simultaneously with extraction work on current proven reserves, stated officials of PetroChina to media.

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