Gen Electric (NYSE:GE)
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GE (NYSE: GE) today announced it has concluded a commercial alliance
agreement with Norway-based Sargas
AS to provide a gas turbine for one of the world’s first gas-fired
plants with integrated carbon capture for enhanced oil recovery (EOR).
The Sargas plant will combine a configuration of the existing LMS100
aeroderivative gas turbine package from GE with Sargas’ patented
combustion and carbon-capture technology enabling low emissions power
generation. The technology provided by Sargas captures carbon dioxide (CO2)
at pressure, which requires lower capital investment costs and can be
built quickly with existing or slightly modified subsystems and
equipment. The Sargas power plant delivers significantly lower costs of
electricity and captured CO2 per ton and therefore enables
the Sargas-led engineering, procurement and construction (EPC)
consortium to offer industrial-scale volumes of economically competitive
CO2 for EOR applications worldwide.
GE’s LMS100 turbine is a combination of proven frame and aeroderivative
gas turbine technology and represents one of the most extensive
collaborations of design and manufacturing expertise in the history of
GE, delivering unparalleled efficiency. In combination, the new
configuration of the LMS100 in the Sargas plant can capture CO2 for
EOR with high efficiency and low parasitic load.
Announcing the Alliance, Sargas’ Chief Executive Henrik Fleischer said,
“Traditional EOR supplies of naturally occurring carbon dioxide stored
underground is running out, and with oil prices expected to remain above
$80/bbl it is important for oil companies to maximize oil production
with enhanced oil recovery. Traditionally, carbon capture for gas-fired
turbine plants relied on government subsidies and advanced technology
research. Our solution, in combination with GE technology, will
revolutionize the worldwide energy industry providing carbon capture in
both a flexible and affordable way for greater energy independence
through EOR. It also offers low-emissions electricity, in a proven and
practical manner. Sargas is fortunate in being able to partner with
best-in-class industrial giants including DSME of Korea.”
DSME President & CEO Jaeho Ko greeted the announcement with enthusiasm
for its potential to significantly enable a growing EOR industry and
positively impact global climate change policy and interventions. He
said, "We are very much delighted that GE has entered into an alliance
with Sargas. GE’s standing in the global turbine and power sector is
unparalleled. We have developed the new CO2 technology with
Sargas over the last three years and have strong confidence that this
new technology will make a fundamental contribution to the immediate
deployment of economic cleaner energy. DSME is a leading EPC constructor
in the shipping and oil and gas sectors with over 35,000 personnel and
$11 billion in annual sales. We at DSME are committed to the cleaner
energy sector thanks to this flagship technology and stand ready to make
this joint vision come true.”
On the alliance, Darryl Wilson, president and CEO—Aeroderivative gas
turbines for GE Power & Water stated, “As one of the world’s most
efficient gas turbines, GE’s LMS100 is an optimal solution for a
pressurized carbon capture plant for EOR applications. The three-shaft
system architecture of the LMS100 enables adaptability for use in a
carbon capture EOR application. The LMS100 provides a highly efficient
production of pressurized flue gas that empowers Sargas technology. EOR
with compressed CO2 has been used for more than 30 years, but
with an increased demand expected and with natural underground sources
of CO2 being exhausted, there is an increased need for new
sources. This new alliance between GE and Sargas can help promote energy
independence through development of oil fields in the United States.”
About Sargas and Its Alliance with DSME and SNC-Lavalin
Sargas is a Norwegian solution provider in the field of carbon capture
technology and EOR with offices in Norway, Sweden, Korea and the USA.
Sargas pressurized CO2 capture technologies require lower
amounts of energy to capture CO2 from flue gas, which will
revolutionize carbon capture for EOR in large scale. Sargas owns global
patents and a best-in-class industrial solution, offering solutions for
natural gas, coal and biomass applications.
Sargas also has created an alliance with world-leading companies Daewoo
Shipbuilding & Marine Engineering Co. Ltd. (DSME) and SNC-Lavalin. DSME
is a leading fabricator and constructor in the shipping, oil and power
sectors with over 35,000 personnel and $11 billion in annual sales.
SNC-Lavalin is a Canadian-headquartered company that will manage the
process and provide EPC (engineering, procurement, construction)
expertise to the alliance. Sargas and partners focus on business cases
providing such plants in conjunction with EOR, thereby creating a total
value chain from electricity sales, power plant production, CO2
logistics and sale to boost oil productions. Started in 1973, DSME has
since grown into the world's premium shipbuilding and offshore
contractor who is specialized in building various vessels, offshore
platforms, drilling rigs, FPSO/FPUs, submarines and destroyers.
About GE’S LMS100
Defining a new era of flexible power generation, GE’s revolutionary
LMS100 provides a single, economical solution for the dispatch needs of
nearly every market condition. With unparalleled efficiency, 10-minute
start times, unmatched hot day performance, load following and cycling
capabilities, the LMS100 is the ideal solution for power generation
planners and developers in a variety of load cycles from peak power to
base load. The LMS100 is a GE ecomagination product enabling grid
stability and load following of wind and solar solutions.
About GE
GE (NYSE: GE) works on things that matter. The best people and the best
technologies taking on the toughest challenges. Finding solutions in
energy, health and home, transportation and finance. Building, powering,
moving and curing the world. Not just imagining. Doing. GE works. For
more information, visit the company's website at www.ge.com.
GE
Energy works connecting people and ideas everywhere to create
advanced technologies for powering a cleaner, more productive
world. With more than 100,000 employees in over 100 countries, our
diverse portfolio of product and service solutions and deep industry
expertise help our customers solve their challenges locally. We serve
the energy sector with technologies in such areas as natural gas, oil,
coal and nuclear energy; wind, solar, biogas and water processing;
energy management; and grid modernization. We also offer integrated
solutions to serve energy- and water-intensive industries such as
mining, metals, marine, petrochemical, food & beverage and
unconventional fuels.
Follow GE Energy on Twitter @GE_Energy.
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