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CNG Delivery By Boat is Coming Soon with 200mscf CNG Carrier

CNG Delivery By Boat is Coming Soon with 200mscf CNG Carrier

Global Energy Ventures Ltd (ASX: GEV), a developer of global integrated compressed natural gas (CNG) projects, has completed the design for its 200 million standard cubic foot CNG Optimum (CNG Optimum 200) ship allowing future CNG delivery by boat. All pipe required for ABS testing of the CNG Optimum 200 ship technology in Edmonton, Canada, will depart Osaka port (Japan) on the 9 April 2018; and Milestones GEV set in 2017 for calendar year 2018 remain on schedule. The Company describes its patented CNG Optimum Technology as revolutionary for the CNG industry, in that the volume of gas that can be stored on a ship is much larger and as a result the comparative shipping cost is drastically reduced relative to traditional marine CNG technologies. This cost advantage provides an excellent opportunity to deliver CNG projects in the near-term.   CNG Optimum 200 ship design finalized Following completion of the ship design, GEV is finalizing its CNG shipping package to submit to three pre-selected ship yards in April 2018, with a view to selecting a preferred ship yard in the second quarter of 2018. This will allow GEV to firm up pricing, financing and construction schedules, and later in the year, award construction contracts.   ABS Approvals GEV has previously advised it will need to obtain American Bureau of Shipping (ABS) approvals during 2018 to commence construction of the CNG Optimum 200 ships to carry on with CNG Delivery By Boat. To obtain these approvals, pipe proposed for use in the ships’ construction must be fully tested. GEV is pleased to confirm that following the manufacturing of the required pipe...