|By Marketwired .||
|November 27, 2012 03:01 AM EST||
SANTA BARBARA, CA -- (Marketwire) -- 11/27/12 -- Carbon Sciences Inc. (OTCBB: CABN), provider of a complete solution for transforming abundant and affordable natural gas into clean burning gasoline and other transportation fuels, today announced its plan to act as the project developer of a "miniGTL" plant in the United States.
Flared and stranded natural gas is abundant and available. The World Bank estimates that 134 billion cubic meters of gas was flared worldwide in 2010, equivalent to almost 5 trillion cubic feet. If all this gas were converted to liquid fuels, it would equate to around 500 million barrels each year. To avoid flaring, trillions of cubic feet are re-injected back into wells every year at a cost. Further, vast shale gas reserves have been discovered in North America and the majority of gas reserves worldwide are not big enough to make conventional GTL, LNG and CNG economic.
"In its recent natural gas analysis, the World Bank declared that 'small is beautiful' and listed Carbon Sciences as one of the players in the miniGTL field," said Byron Elton, CEO of Carbon Sciences. "Large producers, such as Shell and Sasol, have built and operate world scale gas-to-liquids (GTL) plants for large natural gas fields. However, the prospects for miniGTL plants in the U.S. are strong and getting stronger, providing a significant financial opportunity."
"As the world searches for the security of new energy and fuel sources, miniGTL operations have the potential to unlock a vast quantity of natural gas that is either wasted or less accessible. We believe that flared gas could generate around 3 million barrels per day of synthetic fuel, and 'problem' gas, either stranded reserves or that associated with crude oil which would currently be re-injected, a further 20 million barrels per day," concluded Elton.
About Carbon Sciences Inc.
Carbon Sciences offers a complete solution for transforming an abundant and affordable supply of natural gas into clean burning gasoline and other transportation fuels. While large producers, such as Shell and Sasol, have built and operate world scale gas-to-liquids (GTL) plants for large natural gas fields, our solution is engineered to cost effectively produce gasoline from the thousands of available small and medium size natural gas fields. Our first generation GTL solution integrates best of breed and proven technologies, including the ExxonMobil MTG process, to produce ready to use gasoline. We are also developing a proprietary technology to enable a second-generation GTL solution that will produce even cleaner gasoline by using captured CO2 or low value, high CO2 content natural gas as part of the process. Our technology can also be used to transform natural gas into other valuable, large volume products, such as hydrogen, methanol, ammonia, solvents and plastics.
Safe Harbor Statement
Matters discussed in this press release contain statements that look forward within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such statements that look forward. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the statements that look forward contained herein, and while expected, there is no guarantee that we will attain the aforementioned anticipated developmental milestones. These statements that look forward are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.
Coltrin & Associates (for Carbon Sciences)
212-221-1616 ext. 102
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