fischer-tropsch technology: addressing the peak oil issue today by dennis l. yakobson rentech, inc....
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Fischer-Tropsch Technology:Addressing the Peak Oil Issue Today
By Dennis L. YakobsonRentech, Inc.
Presented atThe Denver World Oil Conference
Beyond Oil: Intelligent Response to Peak Oil Impacts
November 10-11, 2005Sherman Street Events Complex
Denver, Colorado
2
The world consumes two barrels of oil for every barrel discovered.
So is this something you should be worried about?
Advertisement
Newsweek Magazine – October 17, 2005
3
Introduction – The Issues at Hand
Conventional oil reserves are not located where demand is growing
No one technology can address the overall issue – fossil fuel demand is too large
Availability of infrastructure limits the use of many alternatives
A large readily-available resource is needed to offset near-term implications of peak oil
Alternatives must be clean, easily distributed and economically viable in today’s environment
4
One Potential Solution – Fischer-Tropsch (FT)
Fischer-Tropsch is a proven technology to transform under-utilized hydrocarbon resources into valuable alternative fuels and chemicals.
5
Fischer-Tropsch – 2005
10
SASOL 160,000 b/d+ Feedstock - Coal
SASOL’S SOUTH AFRICAN FACILITYSASOL’S SOUTH AFRICAN FACILITY
SecundaSecunda
Fischer-Tropsch is a proven technology to transform under-utilized hydrocarbon resources into valuable alternative fuels and chemicals.
SasolburgSasolburg
6
Fischer-Tropsch – 2005 (continued)
Mossel BayMossel Bay
10
Petro SA• 22,500 b/d+• Feedstock - Natural Gas
SecundaSecunda
SasolburgSasolburg
Fischer-Tropsch is a proven technology to transform under-utilized hydrocarbon resources into valuable alternative fuels and chemicals.
7
Fischer-Tropsch – 2005 (continued)
Mossel BayMossel Bay
Bintulu, MalaysiaBintulu, Malaysia
10
Shell• 15,000 b/d+• Feedstock - Natural Gas
SecundaSecunda
SasolburgSasolburg
Fischer-Tropsch is a proven technology to transform under-utilized hydrocarbon resources into valuable alternative fuels and chemicals.
8
Fischer-Tropsch – 2005 (continued)
NigeriaNigeria
QatarQatar
Mossel BayMossel Bay
10
Bintulu, MalaysiaBintulu, Malaysia
Sasol Oryx Project• 34,000 b/d• Feedstock - Natural Gas• Online 2006
Fischer-Tropsch is a proven technology to transform under-utilized hydrocarbon resources into valuable alternative fuels and chemicals.
SecundaSecunda
SasolburgSasolburg
9
Fischer-Tropsch Technology
Production Separation& Upgrading
PowerSteam
CO + H2Tail gas
Diesel Naphtha
Synhytech – Pueblo, Colorado, 1991 - 1993
Gas-to-Liquids (GTL)
• Natural gas
Coal-to-Liquids (CTL)
• Coal• Petroleum coke
Synthesis GasGeneration
• CO2 Sequestration• Oil Recovery
Enhancement
Fischer-Tropsch
Synthesis
Ga
s C
lea
n-u
p
10
Fischer-Tropsch (FT) Drivers
Large secure resource base available – coal
No new product delivery infrastructure required
The fuels are clean-burning and meet all new and foreseeable worldwide environmental regulations
FT Slurry ReactorSynhytech, 1992
11
FT Core Product – Ultra-Clean Diesel Fuel
-42
-33
-9
-28
-45
-40
-35
-30
-25
-20
-15
-10
-5
0
Hydrocarbons CarbonMonoxide
N0x Particulates
FT
Die
sel E
mis
sio
ns
Rel
ativ
eto
a T
ypic
al D
iese
l Fu
el(P
erce
nta
ge)
Source: An average of several government funded studies by NREL & SwRI
FT Diesel
“No New Infrastructure Required”
12
Fischer-Tropsch (FT) Drivers (continued)
Large secure resource base available – coal
No new product delivery infrastructure required
The fuels are clean-burning and meet all new and foreseeable worldwide environmental regulations
Direct increase to a nation’s refining capacity (“no bottom of the barrel”)
Enhances the production of other energy-intensive products such as power and chemicals – poly-generation
Economically viable in today’s market
FT Slurry ReactorSynhytech, 1992
13
Oil Demand – 2025
Oil Demand 2025(1)
0
10
20
30
40
50
60
70
% o
f W
orl
d
North America Middle East Emerging Asia
(1) EIA/IEA Outlook 2005, Table A.4
14
Oil Demand – 2025 vs. Carbon Resources
Reserves:(2)
Oil
Oil Demand 2025(1)
0
10
20
30
40
50
60
70
% o
f W
orl
d
North America Middle East Emerging Asia
(1) EIA/IEA Outlook 2005, Table A.4(2) BP Statistical Review & World Energy, June 2005
15
Oil Demand – 2025 vs. Carbon Resources (continued)
Reserves:(2)
Oil
Natural Gas
Oil Demand 2025(1)
0
10
20
30
40
50
60
70
% o
f W
orl
d
North America Middle East Emerging Asia
(1) EIA/IEA Outlook 2005, Table A.4(2) BP Statistical Review & World Energy, June 2005
16
Oil Demand – 2025 vs. Carbon Resources (continued)
Reserves:(2)
Oil
Natural Gas
Coal
Oil Demand 2025(1)
0
10
20
30
40
50
60
70
% o
f W
orl
d
North America Middle East Emerging Asia
(1) EIA/IEA Outlook 2005, Table A.4(2) BP Statistical Review & World Energy, June 2005
17
Advanced Clean Coal Potential Impact
(3) Efficiency 33%
USA China India
Gigawatts(1) 112 171 57
Tons Coal (dry basis) 1,154,000 1,760,000 585,000per Day(2)
Pulverized Coal Technology(3) • CO2 (tons/day) 2.9 million 4.5 million 1.5 million
IGCC w/FT(4)
• CO2(5) (tons/day) 1.2 million 1.8 million 0.6 million
• Barrels/Day 1,100,000 1,700,000 570,000
(4) Efficiency 55%(5) Includes CO2 sequestration
(2) Based upon sub-bituminous coal containing 30% by wt. moisture
(1) EIA/IEA International Outlook 20046
18
Development History of a Proven Proprietary and Patented GTL / CTL Technology
1982-1985
Sterling
19
Development History of a Proven Proprietary and Patented GTL / CTL Technology (continued)
1989
Sterling
Denver
20
Development History of a Proven Proprietary and Patented GTL / CTL Technology (continued)
1991 – 1993
Denver
Sterling
Pueblo
21
Development History of a Proven Proprietary and Patented GTL / CTL Technology (continued)
2005
Commerce City
Sterling
Pueblo
22
Development History of a Proven Proprietary and Patented GTL / CTL Technology (continued)
2006
Commerce City
Sterling
Pueblo
23
Development History of a Proven Proprietary and Patented GTL / CTL Technology (continued)
“A 25-Year Instant Success”
Royster-Clark E. DubuqueNitrogen Facility
• 2005 – Natural Gas• 830 t/d ammonia• 14 MWe imported power
• 2009 – After Proposed Conversion to Coal
• >900 t/d ammonia• ~ 5700 b/d FT fuels• ~ 37 MWe export power
24
Summary
World petroleum demand is growing at an unsustainable rate
Conventional oil supplies are defined
All available carbon resources need to be considered, engaged and utilized
New technologies need to be deployed
Depending on physical location – GTL/CTL are viable near-term solutions
“In my opinion, the United States has the potential to be the CTL capital of the world.”
– Dennis Yakobson
25
Safe Harbor Statement
Statements made in this presentation regarding Rentech, Inc. and the information incorporated by reference into this release that are not historical factual statements are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. It is intended that such forward-looking statements be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. This section is included for purposes of complying with those safe harbor provisions. The forward-looking statements include, among other things, statements regarding the intent, belief or expectations of Rentech and its officers and can be identified by the use of terminology such as “may,” “will,” “expect,” “believe,” “intend,” “plan,” “estimate,” “anticipate,” “should” and other comparable terms or the negative of them. In addition, we, through our senior management, from time to time make forward-looking oral and written public statements concerning our expected future operations and other developments. You are cautioned that, while forward-looking statements reflect our good faith belief and best judgment based upon current information, they are not guarantees of future performance and are subject to known and unknown risks and uncertainties. These risks and uncertainties could cause actual results to differ materially from expectations. Factors that could affect Rentech’s results include the availability of financing for the projects, the decision of others as to proceeding with the projects, the timing of various phases of the projects, and the entry into definitive agreements with others related to the projects and our Joint Venture. Any forward-looking statements, whether made in this report or elsewhere, should be considered in context with the risk factors discussed or incorporated by reference in this report and the various disclosures made by us about our businesses in our various public reports including but not limited to forms 10Q and 10K filed with the United States Securities and Exchange Commission which can be accessed through the Company website at http://www.rentechinc.com/secfilings.htm at no monetary charge.
1331 17th Street, Suite 720Denver, Colorado 80202
Tel 303-298-8008Fax 303-298-8010dennis@rentk.com
www.RentechInc.com
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