Global Energy Ventures is pleased announce the selection of the Gulf Coast, USA, as its next region to develop a CNG export terminal, located in the Gulf of Mexico.

In the selection of a US located site, GEV’s strategy is to position the export facility where all or most of the infrastructure is already in place such that GEV would add compression and loading facilities to transfer the CNG to the Company’s CNG 200 Optimum ships.  

GEV has commenced discussions with an operator of an offshore platform with capacity to transport GEV’s initial requirement of 220MMscf/d (or 80bcf/year), with the parties to work together to determine the technical and commercial viability of repurposing an existing platform as a potential CNG export terminal. Adjoining pipelines currently transport gas for major gas suppliers and gas aggregators who can offer gas supply at or close to the Henry Hub Index pricing.


  • GEV to target an offshore export terminal as a CNG project from the Gulf of Mexica using CNG Optimum ships for transportation to markets.
  • The target regional markets available to such a CNG transport solution will include Mexico, Central America and the Caribbean, with GEV’s initial focus on the Yucatan region, Mexico.
  • Due diligence underway with an owner and operator of numerous offshore platforms connected to existing network of underutilised pipelines serving producers in and near the Gulf of Mexico.
  • GEV will source natural gas linked to Henry Hub pricing to be exported from the proposed platform using the Company’s CNG Optimum ships to be built.
  • Selection of an offshore CNG export terminal / platform where all the infrastructure is in place will accelerate US CNG export site development.
  • The USA has an abundance of natural gas therefore providing certainty of reliable gas supply.
  • Regulatory approval process is well defined, and the Company expects that all approvals will be obtained in a timely manner.

GEV has commenced due diligence with operators of numerous offshore platforms connected to existing offshore and onshore gas pipelines serving producers in and near the US Gulf of Mexico. The US Gulf of Mexico contains underutilised gas pipelines and platforms with connecting pipelines to shore for access to the major gas resources available along the Gulf States..

Executive Director & Chief Development Officer Garry Triglavcanin said: The US has an abundance of well-priced gas and extensive network of gas transport pipelines, so it is a logical region for GEV to establish a CNG export site to market gas to attractively priced regional markets that include Mexico, Central America and Caribbean. Our research into regional markets within 2,000 nautical miles that are gas constrained and/or are proposing gas fired power generation, contemplating LNG or other fuels. Using a Henry Hub Index feed gas price, our analysis of regional gas markets suggests CNG can be delivered to such regions on a very competitive basis.”

Executive Chairman & CEO Maurice Brand added: “GEV’s management team has a long and successful history of developing and permitting a US gas export facility to be shovel ready and has maintained a strong network of skilled resources who are excited to work on what is expected to be the first CNG export terminal in the Gulf Coast. Our discussions with  a number of parties with onshore and offshore sites has quickly reinforced our view that an offshore export facility can get GEV to market with a timely, economic and practical solution. With up to 80% of the capital cost in our projects related to the CNG shipping, we can avoid the elevated costs associated with onshore facilities ramping up in construction for gas export sites in the next 3-5 years.”

GEV will immediately commence work on the selection of the platform review and gas supply options, as well as, for a plan for US regulatory approvals. GEV will update shareholders in the current quarter of 2019.

Image source: GEV

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