A privately held energy company plans to invest atleast $3.5 billion in a gas-to-liquids plant using technology rarely applied inthe U.S., the Arkansas Democrat-Gazette reportedSept. 28.
The plant would be 10 miles north of Pine Bluff, Ark.,and would be capable of producing an estimated 33,000 barrels of diesel andnaphtha per day. Energy Security Partners may build more plants on the propertyin subsequent phases. The products are more commonlyderived from crude oil using technology developed in the 1920s but rarely usedin the U.S., the report said.
To fund the project, the company plans to solicit frominvestment funds owned by international governments, infrastructure fundinvestors and major banks, Energy Security Partners CEO Roger Williams said inthe report. The company expects to secure $100 million for initial engineeringby the end of the year or in early 2017.
The plant is expected to begin service no earlier thanlate 2021 or early 2022, Williams said.
Energy Security Partners is based in Little Rock, Ark.The company was founded by Williams, a former executive, andretired Army Gen. Wesley Clark.