Verde Clean Fuels is targeting final investment decision (FID) and groundbreaking of its first natural gas-to-gasoline facility at the end of the first quarter of 2025 and producing product two years later.
Speaking exclusively to gasworld, CEO Ernest Miller said, “We’re halfway through all the front end engineering and design on our first commercial facility with Diamondback Energy, and this is a facility which will take approximately 34 million cubic feet of natural gas a day and produce around 3,000 barrels of gasoline daily.”
“It’s a pretty substantial project, north of $350m capital, and a sizeable plant. We have multiple opportunities with Diamondback Energy to address other natural gas supplies that they have. We aim to have four to six plants going into the Permian Basin in the not too distant future.”
Houston-based Verde Clean Fuels has been on an interesting journey for the last 17 years.
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