Development of the Small and Medium-scale GTL Process

Summary

Currently, the only available means of developing natural gas fields are pipelines and LNG, which require large-scale investment. This has prevented small- and medium-scale gas fields that would not yield a return from being developed. Also, the gas that accompanies crude oil production has been combusted or returned to the oil well and is not being utilized effectively either.
The small- and medium-scale GTL process to be commercialized converts the unused natural gas and gas that accompany petroleum into petroleum-like liquid products, offering new value through the effective use of resources, at the same time improving the environment by reducing the emission of greenhouse gases.

On November 1, 2007, TOYO signed a joint development agreement to develop and commercialize offshore GTL facilities, with Mitsui Ocean Development & Engineering Co., Ltd. (MODEC), with whom TOYO has collaborated in the area of FPSO. The other party to the agreement was Velocys Inc., a technical development venture company based in the United States, who has led the world in the development of micro-process technologies.

Feature

One of the technological features of the process is the use of the Microchannel Reactor, which Velocys is currently developing in the reforming reaction of natural gas, and FT reactions. By having the exothermic reaction and endothermic reaction proceed at the same time in the adjacent two microchannels, heat transfer between the two is promoted, thereby dramatically accelerating the catalytic reaction. As a result, the foot-print area of GTL facilities may be reduced to about one-sixth the conventional surface area. This enables the facilities to be equipped on Floating Production Storage and Offloading units (FPSO), offering a new tool in the development of offshore gas fields.