10/29/2018 | Press release | Distributed by Public on 10/28/2018 17:31
GAS & LNG MIDDLE EAST SUMMIT | OMAN 2018
AUSTRALIA AND ALL JURISTICTIONS
The information in this presentation is not an offer or recommendation to purchase or subscribe for securities in Global Energy Ventures Ltd (GEV) (ASX:GEV) or to retain or sell any securities currently being held . This presentation does not take into account, nor is it intended to take into account, the potential and/or current individual investment objectives and/or the financial situation of investors.
This presentation was prepared with due care and attention and the information contained herein is, to the best of the GEV's knowledge, current at the date of the presentation .
This presentation contains forward looking statements that are subject to risk factors associated with the gas and energy industry . The expectations reflected in these statements are currently considered reasonably based, but they may be affected by a range of variables that could cause actual results or trends to differ materially, including but not limited to : price and currency fluctuations, the ability to obtain reliable gas supply, gas reserve estimates, the ability to locate markets for CNG, fluctuations in gas and CNG prices, project site latent conditions, approvals and cost estimates, development progress, operating results, legislative, fiscal and regulatory developments, economic and financial markets conditions, including availability of financing .
All references to dollars, cents or $ in this document is a reference to AUD Dollars, unless otherwise stated.
UNITED STATES (ONLY)
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Early CNG ship designs were constrained by:
Stacking long horizontal pipes was not permitted because they would rub together as the ship flexed at sea Vertical pressure bottles became the 'standard' for CNG ships
Vertical bottles had to be supported in a framework and required space between each bottle for inspection
The excessive number and spacing of vertical pressure vessels resulted in:
An inefficient use of the cargo space A highly expensive connection system
EVOLUTION OF THE CNG SHIP
COSELLE DESIGN (1998)
Reduced connections using large coils of small diameter pipe
Modest economic range
The Coselle design achieved American Bureau of Shipping "Full Design" Approval. The design:
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Showed the merits of long coiled lengths of pipe to minimize the number of connections Showed the merits of integrating the containment system into the ship design
Showed that the CNG storage in the ship was still not optimum because of the wasted space due to geometry Overly complex in construction because a specialised facility was needed to fabricate the Coselle's
Therefore, the "light bulb" moment:
Use horizontally stacked straight pipe to optimize the usage of the ship's cargo hold Invent a system to overcome the horizontally stacked straight pipes rubbing together