16th Oct 2013 10:59
LONDON (Alliance News) - Velocys PLC Wednesday said it has entered a commercial agreement with PTT Public Company Limited to deploy its gas-to-liquids technology in Thailand.
Velocys said that under the terms of the agreement, PTT has commissioned Toyo Engineering Corporation to prepare a detailed front-end engineering design for a 100-barrel-per-day gas-to-liquids plant that will incorporate the company's technologies.
Velocys and PTT have been in collaboration on projects since 2009, and Velocys said that engineering study is expected to be completed in mid-2014.
The company said that following the study, it will make its final investment decision and construct the facility at the site.
Velocys shares were down 1.4% to 135.75 pence Wednesday.
By Tom McIvor; [email protected]; @TomMcIvor1
Copyright 2013 Alliance News Limited. All Rights Reserved.
Related Shares:
VLS.L