Release: CNG ocean transport industry riding gas-development wave

(HOUSTON, Oct. 7 /PRNewswire/) With world markets scrambling for more natural gas while oil producing nations are trying to extinguish gas flares, energy companies are increasingly interested in technologies to transport volumes across oceans. One such technology, compressed natural gas (CNG), is using advanced technology to commercialize what was once considered a low-tech approach.

"The LNG industry, which is what most often comes to mind when ocean transport of natural gas is considered, is building ever-larger plants to reduce costs," said Bob Nimocks, president of Zeus Development Corporation, the coordinator of the joint-industry research. "Consequently, the energy industry needs solutions for smaller fields that might not support LNG economics. CNG is poised to fill this void."

CNG involves compressing and sometimes refrigerating gas into containment systems onboard ocean-going vessels. It has all the elements of an industry set to prosper in global energy markets: entrepreneurs, international energy companies, high-tech designers, marine contractors, manufacturers, investors and regulatory agencies.

Some of the innovations that are making CNG economically feasible are stronger materials for containment and advanced CAD-CAM systems. Newly constructed ships will be technological marvels, using inert gas and refrigeration systems to maximize efficiencies.

"Designers are optimizing their systems across many constraints, including temperature, pressure, diameter, distance, volume and of course cost," Nimocks said. "The first company to find the sweet-spot between their technology and a specific applications will be the first to land a commercial project."

Four companies have thus far set the pace: EnerSea Transport LLC, TransCanada PipeLines Limited, Knutsen O.A.S., and The Williams Companies,Inc.; however, others are working quietly in the background.

"We're seeing three strategies arise: one that is centered on proprietary designs for broad application, another that is focused on non-proprietary designs for a specific export project, and yet another that focuses on longer- term innovation for application many years from now."

These markets, strategies and timing for CNG commercialization will be evaluated closely in a joint-industry research project conducted by Zeus. The company first performed an industry evaluation in 2002 and found the technology rapidly evolving. Since then, concepts have crystallized and projects are taking shape.

For more information, contact Mark Voss, mvoss@zeusdevelopment.com or 713-952-9501. SOURCE Zeus Development Corporation. (end of release)