While the majors are building a global liquefied natural gas (LNG) trade with tens of billions of dollars, smaller players are eyeing the so-called “stranded” natural gas reserves that have missed the radar and economic screens of the LNG developers. Both compressed natural gas (CNG) and synthetic fuel (synfuel) proponents think they can compete for smaller, short-term projects for these residual reserves.

In both the case of CNG and synfuels, technology can be a major driver offering what the proponents say can be an advantage over the longer, more capital-intensive LNG projects. They are looking to complement LNG’s growing worldwide trade, not so much compete with it.

Tulsa-based Syntroleum, with a self-described one-of-its-kind technology for turning methane into “ultra-clean”...