The MoC forms the basis for a long term working relationship between the parties. The scope of the MoC includes feasibility studies of natural gas hydrate transport as an alternative to conventional pipeline and LNG transport. The parties shall also evaluate the possibility to set up a demonstration facility for this technology in India, and the parties shall jointly co-operate in the development and commercialization of this new technology.

Natural gas hydrate is a solid, ice-like compound composed of natural gas and water. Such hydrates are formed under moderate conditions and are stable at atmospheric pressure and about minus 15 degrees C. Natural gas hydrate has been identified as a promising non-pipeline gas transport method for reasonable volumes and transport distances.

GAIL is the largest natural gas company in India, with transmission, distribution, marketing and gas processing activities, as well as having diversified operations in exploration and production, petrochemicals and other integrated activities with overseas business. In its efforts pursuing new technology developments, GAIL has identified storage and transportation of natural gas in hydrate form for monetizing stranded gas fields as a priority area.

Aker Kvaerner Engineering & Technology AS in co-operation with Professor Gudmundsson at NTNU (Norwegian University of Science and Technology) has developed the concept of natural gas hydrate (NGH) technology for various applications. A technology company, NGH AS, has been established to commercialize the natural gas hydrates technology worldwide. The agreement partners are NGH AS and GAIL.

ENDS

 

Media:
Stein Inge Liasjø, VP Communications, Aker Kvaerner.
Tel: +47 67 51 30 94, Mob: +47 464 02 353

 

AKER KVÆRNER ASA, through its subsidiaries and affiliates ("Aker Kvaerner"), is a leading global provider of engineering and construction services, technology products and integrated solutions. The business within Aker Kvaerner comprises several industries, including Oil & Gas, Refining & Chemicals, Mining & Metals, Pharmaceuticals & Biotechnology, Power Generation and Pulp & Paper. The Aker Kvaerner group is organised into two principal business streams, namely Oil & Gas and E&C, each consisting of a number of separate legal entities. Aker Kvaerner is used as the common brand/trademark for most of these entities. The parent company in the group is Aker Kværner ASA. Aker Kvaerner has aggregated annual revenues of approximately NOK 35.6 billion and employs approximately 22,000 people in more than 30 countries.

 

Aker Kvaerner Engineering & Technology has about 800 employees and their main office is located at Lysaker near Oslo. The company has extensive experience and competence within development of technology and concepts, in addition to execution of larger projects. AK E &T has been involved in the development of most oil- and gas fields on the Norwegian Continental Shelf. The company has also played an active role in several terminal and onshore projects in Norway. AK E&T is presently involved in several international projects based on their competence and products, such as LNG terminals.

This press release may include forward-looking information or statements and is subject to our disclaimer, see our web-pages www.akerkvaerner.com.