Global Energy Ventures (ASX:GEV) - CEO & Chairman, Maurice Brand
CEO & Chairman, Maurice Brand
Source: Business News
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  • Global Energy Ventures (GEV) could secure a second significant Brazil operator to engage its marine compressed natural gas transport solutions
  • The off-shore operator submitted a request for information and scoping document to GEV to evaluate the export and commercialisation of its CNG Optimum ships
  • The CNG Optimum ship design maximizes the amount of Compressed Natural Gas that can be stored within the hull of a ship, with a capacity of 200 million standard cubic feet
  • GEV has commenced a proposal in response to the scoping document, which would require a large fleet of CNG ships over a 20 year period
  • The ASX lister says they intend to submit their response proposal in early 2021 for the operator’s consideration
  • GEV shares are up a steady 5 per cent this morning trading at 8.4 cents apiece

Global Energy Ventures (GEV) could secure a second significant Brazil operator to engage its marine compressed natural gas transport solutions.

The unnamed global oil and gas operator submitted a request for information and scoping document to GEV, outlining the potential scale of work.

GEV says the opportunity is significant, potentially requiring a large fleet of CNG Optimum ships over a 20 year period.

The CNG Optimum ship design maximizes the amount of Compressed Natural Gas that can be stored within the hull of a ship, with a capacity of 200 million standard cubic feet.

Further key inputs in the document outline gas supply points, export volumes, gas specifications, transportation distances and delivery locations.

The ASX lister says they intend to submit their technical and economic response proposal in early 2021 for the operator’s consideration.

GEV says it use findings from its commercialisation plan, issued in April 2020, to establish the technical viability of their ongoing operations. Engineers engaged for the plan confirmed there were no technical impediments in the proposed marine CNG solution.

GEV shares are up a steady 5 per cent this morning trading at 8.4 cents apiece at 11:39 am AEDT.

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