US Patent Granted for OSMR Technology
Perth, May 1, 2015 AEST (ABN Newswire) - The Directors of Liquefied Natural Gas Limited (
ASX:LNG) (LNGLY:OTCMKTS) are pleased to advise that the Company, consistent with its announcement on 25 February 2015, has been granted a patent in the United States for its OSMR(R) Process technology.
The Company now has Patents in Canada and US to protect its primary invention being "A Method and System for Production of Liquid Natural Gas" (OSMR(R) process).
The Company's Managing Director and CEO, Mr Maurice Brand, said "We are very pleased that the Company's primary invention is protected in the US and Canada to support the projects in those countries. What's more, the US patent has been extended by 645 days to account for the time the patent has been prosecuted by United States Patent and Trademark Office.
Patent protection in the US and Canada, and in other important jurisdictions, allows the Company to develop other international opportunities as well as progressing the following three projects:
- Magnolia 8 mtpa LNG Project in Lake Charles, Louisiana, USA;
- Bear Head 8 mtpa LNG Project in Richmond County, Nova Scotia, Canada; and
- Gladstone Fisherman's Landing 3.8 mtpa LNG Project in Queensland, Australia.
The OSMR(R) process is based on a proven simple single mixed refrigerant system with the addition of conventional combined heat and power and ammonia refrigeration technology to significantly enhance the plant performance (LNG output and overall process efficiency) resulting in a plant cost of around half that of competing technologies (based on $/tpa) and an overall plant efficiency which is around 30% better than others (i.e. 30% less carbon emissions). This, together with the Company's plant modularisation and construction strategy, substantially improves project economics.
About Liquefied Natural Gas Ltd
Liquefied Natural Gas Limited (
ASX:LNG) (OTCMKTS:LNGLY) (LNGL) is an ASX listed company whose portfolio consists of 100% ownership of the following companies:
- Magnolia LNG, LLC (Magnolia LNG), a US-based subsidiary, which is developing an eight mtpa or greater LNG export terminal, in the Port of Lake Charles, Louisiana, USA;
- Bear Head LNG Corporation Inc. (Bear Head LNG), a Canadian-based subsidiary, which is developing an 8 – 12 mtpa LNG export terminal in Richmond County, Nova Scotia, Canada with potential for further expansion;
- Bear Paw Pipeline Corporation Inc. (Bear Paw), which is proposing to construct and operate a 62.5 km gas pipeline lateral to connect gas supply to Bear Head LNG; and
- LNG Technology Pty Ltd, a subsidiary which owns and develops the Company's OSMR® LNG liquefaction process, a midscale LNG business model that plans to deliver lower capital and operating costs, faster construction, and improved efficiency, relative to larger traditional LNG projects.
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