Petro to cooperate with Russia?s GTL in gas to liquid project
Thursday, September 14 2017 - 02:25 AM WIB
PT Petro T&C International is planning to team up with Russia?s GTL to develop gas to liquid industry in Indonesia by taking advantage of flare gas potential in the country and process them into fuel products such as gasoline with research octane number of (RON) 95, and Euro 5 diesel fuel, as well as methanol as side product.
The plan was revealed by Petro?s President Director Iwan Ratman to Petromindo.com on Wednesday.
He said that the gas to liquid project will use GTL?s latest technology. ?The economic viability of this processing technology is quite good, and in fact can reach internal rate of return (IRR) of 38 percent with payback period of around 3.5 years,? he said.
He said that location of the project will be in area with flare gas potential with flow rate of at least 5 mmscfd. He did not provide further details.
Editing by Reiner Simanjuntak