Hexagon Composites demonstrates cost saving benefits to the gas transportation industry
Hexagon Composites' business unit, Lincoln Composites has signed contracts with two Vietnamese companies for the supply of high-pressure composite tanks and storage modules. The contracts are in total worth around EUR 3.2 millions.
The company will supply 40 foot TITAN(TM) modules as well as 20 foot Smartstore(TM) modules using 450 liter TUFFSHELL® cylinders to Petrovietnam Gas South and CNG Vietnam J-S Company. This is the third order to Petrovietnam and represents a strong continuation endorsement and partnership.
The lightweight high-pressure modules will be used to transport compressed natural gas to ceramic processing plants that require large consumption of gas at very high flow rate. Efficient gas transportation modules such as TITAN(TM) are expected to increase in demand as more natural gas is allocated for industrial usage in Vietnam.
"The new contracts clearly prove Hexagon Composites' leading position in Vietnam as the most preferred bulk gas transportation supplier," says Lincoln Composites' Director of Business Development, Goh Tat Chuan.
"TITAN(TM) is currently the most advanced and effective bulk gas transportation system in Vietnam. It is easy to operate and maintain. More importantly, we have also seen significant cost savings in our operations due to the efficiency of the modules" says Ha Anh Tuan, Deputy General Director or Petrovietnam Southern Gas Company.
Since the TITAN(TM) modules became commercially available in mid 2010, around 30 TITAN(TM) modules have been put into operation on the roads of Vietnam. With the current orders from the major CNG players in Vietnam, it clearly shows that TITAN(TM) is not only well-accepted in Vietnam, it has proven the cost-saving benefits it brings to the gas transportation companies.
Hexagon Composites develops and manufactures lightweight containers of composites which offer high strength combined with light weight. The Groups TITAN(TM) tanks ensure safe and simple transportation in ISO container form. A 40 foot TITAN(TM) module can transport approximately 10 000 m³ of compressed natural gas. This means that the TITAN(TM) modules will provide a capacity increase, allowing transport of more than twice as much gas as conventional steel solutions, while reducing the overall gross vehicle weight by several tonnes. This payload increase also allows fewer trailers to transport more gas throughout the country, and increase gas transportation operating efficiency. The 20 foot Smartstore(TM) modules provide excellent storage efficiency and act as an intermediate storage solution for regions where the roadway infrastructure does not allow for use of a 40 foot trailer.
Hexagon Composites continues to build on the success with extended business cooperation with existing customers in Vietnam by introducing TITAN(TM) extenders for increased capacity. The TITAN(TM) extenders use groups of lightweight TUFFSHELL cylinders to allow a customer to utilize empty trailer space to increase the already sizable capacity of a TITAN(TM) module. A front trailer extender can increase capacity by over 2200 m³ and the top extender can increase the capacity by over 1700 m³. Used in combination with a TITAN module, the extenders provide an overall capacity of nearly 14 000 m³ of natural gas.
Lincoln Composites is a world-leading provider of natural gas and hydrogen storage and transport solutions to the vehicle industry. The company operates one of the world's most-advanced facilities for designing, testing and manufacturing composite pressure tanks. Lincoln Composites is located in Nebraska, USA.
Hexagon Composites ASA is a publicly listed company with its head office in Aalesund, Norway. The Group employs 371 people and had a turnover of NOK 846 million in 2010. The Group develops and manufactures composite cylinders for the storage and transport of various gases under pressure and multiaxial composite reinforcements.
For more information:
Solveig D Saether, Communication Manager, Hexagon Composites ASA
Telephone: +47 906 34 977 | E-mail: solveig.saether@hexagon.no
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