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HTC Purenergy and EESTECH Sign Agreement for Carbon Capture With Santos
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REGINA, SASKATCHEWAN, May 20 (MARKET WIRE) --
HTC Purenergy (TSX VENTURE: HTC) ("HTC") and EESTECH have entered into
an agreement to explore business opportunities with Santos
(www.santos.com) for carbon capture, storage and enhanced oil recovery
using carbon (CO2) from its own gas fields.
EESTECH is publicly traded on the US Bulletin Board and operates a
technical facility in Brisbane, Australia. EESTECH is implementing the
commercialization of HTC's Carbon Management Technologies in Asia-Pacific
including the Purenergy CCS CO2 Capture technology, which is the world's
first pre engineered, modular, 1000 tonne per day carbon capture system
known as the "Purenergy CCS IOOO".
The HTC Purenergy system was developed over the past fifteen years at the
world renowned International Test Centre for Carbon Capture at the
University of Regina, Saskatchewan, Canada. The system captures CO2 from
the flue gas stream of coal and gas fired power stations for subsequent
storage in either underground aquifers or depleted oil and gas fields.
The HTC Purenergy carbon capture technology can be retrofitted onto
existing power plants. When integrated with EESTECH's Hybrid Coal Gas
Turbine (HCGT), which utilises waste coal and methane to produce the
energy required for carbon capture, the cost of carbon capture is
significantly reduced.
Santos acting Managing Director David Knox welcomed the agreement, which
he said would further complement Santos's commitment to the research and
development of carbon capture and storage into depleted oil and gas
fields.
"This project will build on our current development activities focusing
on the Moomba Carbon Storage Project which has the long-term objective of
establishing a large-scale carbon storage hub at Moomba, which could
eventually store up to 20 million tonnes of carbon dioxide per year and 1
billion tonnes over the life of the project.
"It would do so by injecting carbon dioxide into the depleted and/or
depleting oil and gas reservoirs of the Cooper Basin, thereby providing a
secure storage solution for major carbon emitters in Queensland, New
South Wales and South Australia, as well as stimulating further gas flow
from the field, he said".
Mr John Hanson, representing HTC and EESTECH said that the signing of the
agreement will allow HTC and EESTECH to demonstrate how its market
leading CO2 management technologies could deliver fully optimized, large
scale, site-specific CO2 capture solutions in keeping with Santos's
objectives.
"We are delighted with the signing of this agreement and look forward to
a long-term collaboration with Santos," he said.
The agreement with Australian based Santos follows the recent
announcement of a feasibility study with Loy Yang Power, which operates a
2200 MW brown coal fired power station in Australia's Latrobe Valley.
Santos is a major Australian oil and gas exploration and production
company with interests and operations in every major Australian petroleum
province and in Indonesia, Papua New Guinea, Vietnam, India, Bangladesh,
Kyrgyzstan and Egypt. They are Australia's largest domestic gas producer,
with 59.1 million barrels of oil equivalent produced in 2007 and have
more than 1,750 employees.
HTC Purenergy corporate developments can be followed on www.htcenergy.com
and is traded under the symbol HTC.
TSX Venture Exchange Inc. does not take
any responsibility for the adequacy or accuracy of the information
contained in this news release.
Contacts:
HTC Purenergy Inc.
Jeff Allison
(306) 352-6132
(306) 545-3262 (FAX)
Email: jallison@htcenergy.com
Website: www.htcenergy.com
Copyright 2008, Market Wire, All rights reserved.
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