Petrostar and Maverick Synfuels execute MOU for gas-to-methanol venture in Canada
16 May 2014
Canada-based Petrostar Petroleum Corporation has signed a Memorandum of Understanding (MOU) to form a joint venture with US-based Maverick Synfuels to facilitate the development and operation of GTL (gas-to-liquids technology) in the Canadian provinces of Alberta, British Columbia and Saskatchewan.
The proposed plants will utilize and promote technology that converts a methane-rich feedstock into high-quality methanol. Maverick Synfuels, formally known as Maverick Biofuels, would commit to exclusive licensing to Western Canada with Petrostar committing various petroleum and natural gas properties to the joint venture entity. The ownership of the JV entity will be 60% Petrostar and 40% Maverick.
Maverick Synfuels develops and commercializes thermochemical technology that converts low-value and renewable feedstocks into high-value fuels and chemicals. The processes are feedstock flexible and can convert methane (natural gas, landfill gas, anaerobic digester gas), as well as biomass, municipal solid waste (MSW) and industrial waste, into transportable intermediates.
With the Olefinity process, olefins (2-5 carbon chains with one double bond) are produced directly using Fisher-Tropsch (FT) synthesis or indirectly using a Methanol-to-Olefins (MTO) synthesis process.
The methanol-to-olefins (MTO) process is well-understood, and uses catalysts which are commercially-available. This process is more cost-effective when performed at a relatively small scale, Maverick says, so it is more cost-effective to produce methanol where the feedstock is located, and ship the methanol to a central hub for conversion to olefins. Once the methanol is converted to olefins, the olefins can be converted to final products.
Maverick Synfuels builds modular production platforms based on combinations of thermochemical methanol synthesis technology. Maverick’s modular plants can be deployed in oil fields, dairy farms and landfills to convert methane-rich waste gas, including associated gas, biogas and flare gas, into high-value transportation fuels and specialty chemicals. Maverick currently operates demonstration plants in Florida and Colorado.
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