Enron Capital & Trade Resources Corp. (ECT), SyntroleumCorp., and SLH Corp. contributed a total of $3 million to funddetailed engineering, land purchase and other development costs foran 8,000 barrel/d gas-to-liquids specialty product plant inSweetwater County, WY, to be developed by Syntroleum. Subject toconditions, ECT committed an additional $14.5 million for aminority interest in the plant.
The plant will use the Syntroleum process to convert gas intospecialty products, including synthetic lubricants, drilling fluidsand liquid normal paraffins. The plant should also generate morethan 50 MW of electricity for sale to others. Construction beginslate this year for in-service in 2001.
Separately, ECT or other Enron Corp. affiliates acquired theright to license the Syntroleum process outside North America forproduction of liquid fuels. Other companies licensing the processinclude Texaco, ARCO, Marathon, YPF and Kerr-McGee.
“Our relationship with Syntroleum. demonstrates ECT’scommitment to support companies that have developed uniquecapabilities that complement our own,” said Kenneth D. Rice, CEO ofECT North America. “Syntroleum is able to take advantage of ECT’sexpertise in finance and natural gas, the feedstock for theSyntroleum Process. In addition, because the process produceselectricity and can be flexibly deployed around the world, itcomplements Enron’s electricity, international oil and gas, andproject development businesses.”
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