Saturday, April 20, 2024
BusinessGreenComm Technologies to construct USD 3.6 bln GTL Refinery

GreenComm Technologies to construct USD 3.6 bln GTL Refinery

GreenComm Technologies LLC Ethiopia is set to construct a GTL (Gas to Liquids) Refinery, worth USD 3.6 Billion, to help Ethiopia take advantage of its natural gas deposit and help it transition into liquid petroleum gas and petrochemicals.

According to Nibiyu Getachew, the CEO of GreenComm Technologies LLC, this is to help Ethiopia utilize its natural gas reserves to produce clean burning synthetic fuels.

“Upon its completion, no longer will Ethiopia remain dependent on imported fuel consumption,” said Nibiyu at a press conference held inside the Ethiopian Ministry of Mines Petroleum and Natural gas on Wednesday.

 “Ethiopian Airlines will be among the few elite airlines to meet global carbon emissions standard and due to Synthetic fuels longevity of storage, this fuel will help strengthen the military’s capabilities and strategic reach,” he added.

With an office in Washington D.C and Addis Ababa, GreenComm Technologies has been involved in the energy, security, agricultural and financial market. This is its major project in Ethiopia, with negotiations beginning in 2015.  Furthermore, it is to partner with Hyundai Engineering & Construction Co, as well as Pearl GTL project of Qatar, Oltin Yo’l GTL Project of Uzbekistan and Shell Middle Distillate Syntheses Project of Malaysia.

- Advertisement -

According to sources, the study will also look into the potential reserves of Ethiopia, believed to be around 8 trillion cubic meters of reserve, in the Somali region of the nation. A number of Chinese partners, including GCL-Poly Energy Holdings Limited have identified reserves set to bring government coffers much needed resources and have signed contracts with the government in their exploration pursuits. In addition, they are said to construct pipelines to make natural gas available to the market.

It can be recalled that last year, the Ethiopian government signed a deal to  construct create a pipeline with its neighbor, Djibouti, in the transportation of natural gas after Ethiopia identified 8 billion cubic trillion feet of natural gas.

- Advertisement -spot_img


- Advertisement -


More like this

Preventing weaponization of hate speech legislation

Ever since the use of social media became ubiquitous...

High-flown policy doc sets start date for transitional justice, calls for new courts

The transitional justice policy ratified by the Council of...

Controversial clergyman at heart of foiled USD 6 million fraud attempt on AU premises

AU officials say organization hesitant to keep forex in...