Linc Energy

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Linc Energy
Type Publicly-listed company (ASX: LNC) (PINK:LNCYF) (OTCQX:LNCGY)
Industry coal
Founded Brisbane, Australia (1996 (1996))
Headquarters Brisbane, Australia
Key people Peter Bond (CEO)
Products synthetic fuel, electric power, chemical products
Owner(s) Peter Bond (Newtron Pty Limited); minor shareholders
Subsidiaries SPC Yerostigaz, Linc Carbon Solutions Pty Ltd, SAPEX Limited
Website http://www.lincenergy.com.au/

Linc Energy is an Australian energy company specialized on a coal-based synthetic fuel production. It is engaged in development and commercialization of proprietary underground coal gasification technology. Produced gas is used for production of synthetic fuel through gas-to-liquid technology, and is planned also to be used for power generation. The company has its headquarters in Brisbane.

History

Linc Energy was incorporated on 29 October 1996 as Linc Energy N.L. On 17 November 2000, it changed its name to Linc Energy Ltd.[1] It listed on the Australian Securities Exchange (ASX) on 10 May 2006 and later on the OTCQX in New York in December 2007.

Linc started to develop its Chinchilla Demonstration Facility in July 1999. First gas was produced already in the same year; however, it took more than two years to achieve complete control of the process. Initially Linc Energy used the underground coal gasification technology worked out by Ergo Exergy Technologies, Inc, of Canada. However, in 2006 the cooperation with Ergo Exergy was terminated and the cooperation agreement for technology usage, consultation and engineering services was signed with the Skochinsky Institute of Mining and the Scientific-Technical Mining Association of Russia.[2]

In 2005, Linc signed a memorandum with Syntroleum granting a licence to use the Syntroleum's proprietary gas-to-liquid technology and started to build a GTL pilot plant in November 2007 at the Chinchilla facility. The plant was commissioned in August 2008. The first synthetic crude was produced in October 2008.[3] The pilot plant was officially inaugurated on 22 April 2009.[4] The fourth generator was commissioned in February 2010.

On 20 December 2007, Linc Energy acquired a 60% stake and later increased it to 74% in Uzbekistan's underground coal gasification company SPC Yerostigaz.[5] On 15 October 2008, a South Australian oil and gas company SAPEX Limited was merged with Linc Energy. This acquisition provided Linc Energy with tenements in the Arckaringa, St Vincent and Walloway Basins.[6] On 3 December 2008, Linc Energy announced its intention to purchase North American Powder River Basin tenements from Casper, Wyoming, based GasTech Inc.[7] The first tenements were formally acquired in May 2009, with further acreage across the states of Montana and North Dakota acquired in September the same year. In March 2010, Linc Energy signed an agreement to acquire tenements in the Cook Inlet Basin in Alaska. Project feasibility and permitting processes are underway in North America for potential UCG sites.[8]

In November 2007, Linc Energy, in cooperation with BioCleanCoal Pty Ltd, established a joint venture to develop a prototype bioreactor for converting carbon dioxide through a photosynthesis into oxygen and solid biomass.

Operations

Linc Energy head office is based in Brisbane, Australia, and it has business interests in Queensland, South Australia, North America, Vietnam and Uzbekistan. The company owns and operates the Chinchilla Demonstration Facility 300 kilometres (190 mi) west of Brisbane, which is the world's first gas-to-liquid plant operating on synthesis gas produced by underground coal gasification.[3][4][9] The facility hosts four underground coal gas generators, a GTL pilot plant, a world-class laboratory, and a wastewater treatment plant.

Linc Energy also plans to build a 20,000 barrels per day (3,200 m3/d) gas-to-liquid plant on the Arckaringa basin in South Australia.[10] The plant would be designed by Aker Solutions and it would be fed by synthesis gas produced by underground coal gasification.[11] BP has an option to buy 70% of the produced diesel fuel.[12]

In the Yining mining area in China, Linc Energy has planned to develop a coal gasification project in cooperation with Xinwen Mining Group.[13] Together with Vinacomin, Song Hong Energy and Marubeni, Linc is preparing the Red River Delta UCG (UCG Tonkin) project in Hung Yen, Vietnam.[3][4]

Linc owns Emerald, Galilee and Pentland coal mining tenements in Queensland, Australia, which it plans to sell.[14]

Yerostigaz

Yerostigaz is a subsidiary of Linc Energy located in Angren, Uzbekistan. It was established in 1961 and has since then continuously operated in the field of underground coal gasification. It produces about one million cubic meters of syngas per day. The produced syngas is used as fuel in the Angren Power Station.[5]

See also

References

  1. ↑ "Linc Energy Ltd.". Standard & Poor's. http://reports.standardandpoors.com/aidata/maccess/l/lnc_428820_bkgrnd.htm. Retrieved 8 August 2009.
  2. ↑ McElligott, Suzanne (December 2006). "Australia's Linc Energy Signs up Russian Help for UGC Project, Ergo Energy Terminates Linc Relationship". Gasification News. (subscription required). http://www.worldfuels.com/archives/Gasification-News/IX/12/a616e1f5-60a5-4eac-848a-1edc546226af.php. Retrieved 6 August 2009.
  3. ↑ 3.0 3.1 3.2 "Linc pilot flows first GTL fuel". Upstream Online (NHST Media Group). 14 October 2008. (subscription required). http://www.upstreamonline.com/live/article164782.ece. Retrieved 6 August 2009.
  4. ↑ 4.0 4.1 4.2 "Linc Energy Opens CTL Demo Plant". Downstream Today. 24 April 2009. http://www.downstreamtoday.com/news/article.aspx?a_id=16131. Retrieved 6 August 2009.
  5. ↑ 5.0 5.1 "Linc Energy Limited (ASX:LNC) Technology Update On Chinchilla Underground Coal Gasification (UCG) Operations". ABN Newswire (Asia Business News Ltd.). 10 March 2009. http://www.abnnewswire.net/press/en/60275/Linc-Energy-Limited-%28ASX:LNC%29-Technology-Update-On-Chinchilla-Underground-Coal-Gasification-%28UCG%29-Operations. Retrieved 8 August 2009.
  6. ↑ "Linc Energy to merge with SAPEX". Australian Associated Press (The Sydney Morning Herald). 12 June 2008. http://news.smh.com.au/business/linc-energy-to-merge-with-sapex-20080612-2pdp.html. Retrieved 6 August 2009.
  7. ↑ "Linc Energy Limited (ASX:LNC) Makes Strategic US Coal Acquisition Of Gas Tech Inc.". ABN Newswire (Asia Business News Ltd.). 3 December 2008. http://www.abnnewswire.net/press/en/59691/LINC-ENERGY-LTD.html. Retrieved 6 August 2009.
  8. ↑ http://www.lincenergy.com.au/united-states.php
  9. ↑ "Linc gears up for Chinchilla GTL". Upstream Online (NHST Media Group). 28 November 2007. (subscription required). http://www.upstreamonline.com/live/article144966.ece. Retrieved 6 August 2009.
  10. ↑ "Linc set for Arckaringa scale up". Upstream Online (NHST Media Group). 19 November 2008. (subscription required). http://www.upstreamonline.com/live/article166824.ece. Retrieved 6 August 2009.
  11. ↑ "Linc Energy signs up Aker Solutions". Upstream Online (NHST Media Group). 5 August 2009. (subscription required). http://www.upstreamonline.com/live/article185053.ece. Retrieved 6 August 2009.
  12. ↑ Eduard Gismatullin (9 December 2008). "Linc Extends Diesel Option With BP From Australian GTL Plant". Bloomberg. http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aEVgzS25zpDg. Retrieved 8 August 2009.
  13. ↑ "POSCO, SK Energy to invest for coal conversion". Reuters. 24 July 2009. http://www.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idUSSEO37130820090724. Retrieved 6 August 2009.
  14. ↑ Fayen Wong (23 June 2009). "Australia's Linc hires UBS for coal asset sales". Reuters. http://www.reuters.com/article/rbssOilGasRefiningMarketing/idUSSYD6014620090624. Retrieved 6 August 2009.

External links

Official website


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