Aramco to produce low-cost gasoline
The technology could contribute to making natural gas a complement to oil
Saudi Aramco is investing $30 million with Siluria Technologies, Inc. of San Francisco, to produce low-cost gasoline from natural gas.
Siluria is working on converting natural gas into gasoline in a two-step process that first converts natural gas into ethylene and then into fuel like gasoline, diesel or jet fuel.
The technology could contribute to making natural gas a complement to oil as the basis for the production of fuel for transportation and certain chemicals.
The CEO of the company, Edward J. Dineen, said long term forecasts indicate that the operational costs for producing this fuel will range between $15 and $20 a barrel, which means that a gallon of gasoline, compared to today's prices, will cost about half as much and he expects that this will be achieved around 2021.