Subsea view of HiLoad LNG Regasification Terminal

Nov 18, 2004

Mexico could get innovative offshore LNG terminal

Tidelands Oil & Gas Corporation, San Antonio, Texas, has engaged Remora Technology to explore the operational and commercial design for the building of a HiLoad LNG Regasification Terminal in the Gulf of Mexico's offshore waters.

Houston-based Remora Technology is owned by Norway's HiTecVision AS.

Developed with with the financial support of ConocoPhillips, Remora's HiLoad LNG Regasification Terminal is an innovative and environmentally friendly solution to effectively connect to and import LNG as natural gas from any LNG carrier. It was the winner of the prestigious ASME Woelfel Best Mechanical Engineering Achievement Award at this year's OTC.

HiLoad unitThe HiLoad facility attaches itself to an LNG tanker and directly vaporizes the LNG as it is offloaded and injects directly into pipelines that supply the gas markets. This approach eliminates the need for extensive above ground storage tanks or large barge based marine structures required for berthing and processing.

It also allows great flexibility in the transmission rates, ranging from 250MMCFD to 1.4 BCFD.

Once the HiLoad LNG Regasification Terminal efficiently transmits the gases from the LNG tanker, it is distributed through undersea pipelines that connect with onshore storage facilities, metering stations and further transmission pipelines, ready for use in the energy markets.

Remora will, in cooperation with Tidelands, gather as much information as needed to initially develop a basis of design and follow-up with a preliminary design study to identify the specific equipment required for year round operation in conditions pursuant to the site.

Michael Ward, President and CEO of Tidelands Oil & Gas Corporation, said, "We have been highly impressed with Remora's HiLoad LNG Regasification Terminal and have quickly determined its tremendous potential for our business strategies and plans in Mexico. Our plans are to make this terminal off the coast of Mexico an integral part of the proposed storage hub in the Burgos Basin. This proposed terminal facility, when developed along with our proposed underground natural gas storage facility and pipeline interconnections, will be the most dynamic energy network along the Gulf Coast. It will enable Tidelands to provide a more comprehensive service to the Mexico energy markets and allow Mexico to better manage both swing demands and price fluctuations within their energy markets. Once fully integrated, Mexico will have more control over the delivery of gas to the population and be better able to satisfy the supply and demand for gas products."

"In the event the Mexico markets become saturated," continued Ward, "gas can be sent to the U.S. markets as well. Total off-take capacity of the HiLoad LNG Regasification Terminal could be approximately 500MMBTU to Mexico, 450MMBTU to storage and 500MMBTU to US markets. The promise and potential of this project is extraordinary and Tidelands is proud to be a pioneer in the implementation of this exciting technology."

Lars Odeskaug, President of Remora Technology, said, "We are extremely pleased with the Tidelands commitment, and consider it a breakthrough in the commercialization of the technology. The combination of the offshore HiLoad LNG Regas Terminal, with Tidelands' onshore storage and gas distribution facility, is an excellent fit. We are impressed with Tidelands' ability to act on this unique opportunity."

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