Today before the opening bell, First Titan Corp. told investors that it is in negotiations to invest in BioFuels Power Corp. (OTCQB: BFLS) to further its gas-to-liquids (GTL) project in the $5.29 billion GTL market.
The GTL process is designed to convert low-cost natural gas and abundant supplies produced from unconventional shale resources to higher value liquid fuels. According to a recent report by Forbes, Shell has an almost $20 billion project in Qatar to exploit inexpensive natural gas, and Sasol is investing between $16-$21 billion to create a facility for conversion of natural gas to diesel fuel.
On a smaller scale, companies are looking to create GTL opportunities where gas byproduct from oil production is far removed from pipelines and thus flared, and from smaller gas fields where scale has been a limiting factor.
FTTN, an oil and gas energy company seeking continued growth of a diversified oil and gas portfolio, has identified an industry-accomplished company that possesses the technology to increase the financial returns of natural gas resource holdings.
FTTN is considering a direct investment in BioFuels Power Corp., which would allow FTTN access to industry-leading technology that could significantly impact the value of FTTN’s natural gas holdings. FTTN would look to the new technology to open new avenues for investment. The World Bank estimates that over 150 billion cubic meters of natural gas are flared or vented annually, an amount worth approximately $30.6 billion dollars, or equivalent to 25 percent of U.S. gas consumption per year, which represents a potentially lucrative opportunity for FTTN.
For more information on FTTN’s oil and gas projects, please visit www.firsttitanenergy.com/investors.html.
Let us hear your thoughts: First Titan Corp. Message Board