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Tag: Feasibility Study

Syngas News

Carbon Recycling International (CRI), which operates a geothermally powered green methanol plant at Svartsengi, 40km southwest of Reykjavik, had to evacuate its site in late November when a 3km fissure opened in the earth a few kilometres away and lava began spilling across adjacent land. Satellite photos of the area taken on November 24 show a large field of molten and cooled lava to the north, west, and south of Svartsengi, though the plant itself remained undamaged. CRI’s Iceland facility runs on CO2 , water, and renewable electricity from the Svartsengi geothermal power station. CRI says the low-carbon energy source allows it to produce 4,000 t/a of methanol with a greenhouse gas footprint just 10–20% that of conventional methanol.

Nitrogen Industry News

OCI Global says that it has reached an agreement for the sale of 100% of its equity interests in its Clean Ammonia project currently under construction in Beaumont, Texas for $2.35 billion on a cash and debt free basis. The buyer is Australian LNG and energy company Woodside Energy Group Ltd. Woodside will pay 80% of the purchase price to OCI at closing of the transaction, with the balance payable at project completion, according to agreed terms and conditions. OCI will continue to manage the construction, commissioning and startup of the facility and will continue to direct the contractors until the project is fully staffed and operational, at which point it will hand it over to Woodside. The transaction is expected to close in H2 2024, subject to shareholder approval.