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| Today: 09 February 2010 Time: 09:51 PM |
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| Mitsubishi, Shell, Exxon to develop coal liquefying device to process oil |
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| Economics 9/13/2007 10:00:00 AM |
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TOKYO, Sept 13 (KUNA) -- Asia's biggest power equipment manufacturer
Mitsubishi Heavy Industries Ltd. will jointly develop coal liquefication
facilities, which are used to produce gasoline and other petroleum products,
with Royal Dutch Shell Plc and Exxon Mobil Corp., a leading financial paper
here reported Thursday.
For years, little progress was made in putting these facilities to
practical use because crude oil prices were stuck below USD 40 a barrel, but
with crude surging above USD 70 a barrel, the technology has gained renewed
momentum, especially considering that coal reserves quadruple that of crude
oil, the Nikkei Shimbun said.
Consequently, some estimate that demand for coal liquefication plants may
reach JPY 10 trillion (USD 88 billion) by 2020.
Against this backdrop, Shell and Exxon Mobil each aim to introduce such
facilities beginning in 2010, and have embarked on projects to develop
large-scale commercial plants capable of processing around 100,000 barrels of
oil each day, the daily said. They both requested Mitsubishi Heavy's
participation.
Mitsubishi Heavy will be responsible for developing a special compressor,
which compresses the oxygen and hydrogen produced when coal is thermally
broken down.
The Tokyo-based heavy machinery maker will develop the world's largest
compressor for coal liquefication. Shell and Exxon Mobil are also expected to
purchase steam turbines, which operate the compressors, the report said,
adding that each facility is likely to cost around JPY 15 billion (USD 131
million).(end)
mk.wsa
KUNA 131000 Sep 07NNNN
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