Coal-to-gas developer signs $1.25bn deal

GreatPoint Energy has completed a $1.25 billion deal to build a large-scale plant for converting coal to natural gas in China.

The Wall Street Journal reports that China Wanxiang Holdings will invest $420 million in Massachusetts-based GreatPoint Energy, and willfinance construction of the plant, with the first phase to be completed by 2015.

The project will use a process to treat coal with high heat and steam in a gasifier to convert it into natural gas, the article said. The carbon dioxide (CO2) and other emissions are captured, and the CO2 will be sold to oil and gas drillers to be injected underground into existing wells.

Read more clean coal technologies news

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...