Global Energy Ventures Ltd (ASX:GEV), a developer of global integrated compressed natural gas (CNG) projects, is pleased to advise that it has entered into a Letter of Intent (LOI) with Tamarind Resources Pte Ltd (Tamarind), an oil and gas operator headquartered in Kuala Lumpur, Malaysia.
The aim of the LOI is to jointly identify, evaluate and pursue an interest/operatorship in gasfields in the Malaysian region, using GEV’s proprietary CNG Optimum technology and CNG Optimum 200 MMscf ships to export gas to markets within a 2,500 km range.
Under the LOI, both parties have already established a commercial case for a particular offshore Malaysian gas field, and have since expressed their interest to the authorities to conduct further due diligence and potential interest/operatorship in such field.
Dateline 2013-10-09, Sin Chew Git Poh:
At a time when countries across the globe are facing the inconvenient truth about environmental changes, an ordinary taxi sputtering along an expressway in Malaysia can be viewed by the rest of the fuel-guzzling world as a forerunner to a more sustainable future as a result of the country’s emphasis on compressed natural gas (CNG) from petrol.
With its well-maintained expressways, punctuated by frequent stops offering rest, food, and gas, and road signs that proclaim a 110-km/h speed limit and remind drivers to stay on the left, the country knows it needs to charge ahead to meet progress head on.
This is why it is aggressively driving the introduction of environment-friendly alternative fuels. Malaysians are proving that taking care of the environment does not mean a return to a non-motorised utopia.
Sabah became the first state in Malaysia to offer compressed natural gas (CNG) via a virtual pipeline system.
Chief Minister Datuk Seri Musa Aman said the approach undertaken by Sabah Energy Corporation (SEC) would enable a wide spectrum of users to benefit from the project.
“It (project) is accessible to users who are located up to 70km from SEC’s station at the Kota Kinabalu Industrial Park.
OWNERS of cars which run on compressed natural gas (CNG) will soon have to pay more for their fuel. They will also have to comply with the three-quarter-tank rule when travelling into Malaysia.
A 20 cents per kg excise duty on CNG will be levied at all gas pumps from Jan 1, a move announced in Budget 2009.
CNG car owners will still pay less duty than petrol-vehicle owners, who pay 41 cents per kg in duty for most grades of petrol.
The three-quarter-tank rule, which currently applies only to petrol vehicles registered in Singapore, will also apply to CNG cars from Jan 1, said Singapore Customs yesterday
Noting that here in Malaysia there has been a lot of interest in converting petrol vehicles to NGV guzzlers, I was musing on the idea that perhaps motorcycles could undergo the same surgery.
Sniggers could be heard, erupting into full blown laughter after introducing the plan to others.