South Korean company Hyundai Engineering has secured an order from US energy firm GTL Americas to build a plant in the US that will convert natural gas into high-grade diesel, naphtha, and jet fuel. The gas-to-liquid (GTL) facility will be located in Arkansas and will produce 41,000 barrels of fuel per day. This advanced process transforms natural gas into valuable petroleum products that are used in various industries. Fuels produced through GTL technology are considered more environmentally friendly, emitting less carbon dioxide compared to traditional fossil fuels.
Hyundai’s American unit will work with GTL Americas and S&B Engineers and Constructors to design and plan the facility. Construction will begin before late 2025 and is expected to be completed in 2029. Hyundai aims to secure the main engineering, procurement, and construction contract once GTL Americas makes the final investment decision. GTL Americas is also planning to construct additional GTL facilities in the future.
Hyundai sees this project as an opportunity to expand into renewable energy, such as building a hydrogen plant. The signing ceremony for the order took place in Jefferson County, with top executives from both companies in attendance. Hyundai will provide detailed cost breakdowns to GTL Americas using an open book cost estimate method. The company hopes that the successful execution of this project will give them an advantage in winning future GTL projects.
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