Friday, March 8, 2013

Global underground coal gasification (UCG) market in 2012 will reach $570m

Underground Coal gasification (UCG), as a concept, has been around for over a hundred years. UCG is a clean, safe, and cheap technology suited to process deep, inaccessible coal in to higher value syngas. It has the potential to significantly increase global coal reserves used for power generation and gas-to-liquids processes. A combination of high oil prices, increasing global energy demand, and technological improvements, especially in directional drilling, has increased interest in the UCG industry over the past years and a number of countries are now seeing increasing investments in their respective UCG industries. In countries with limited natural gas and oil reserves, but extensive coal reserves, UCG offers a cleaner and cheaper alternative energy source from coal. An additional benefit comes from UCG's compatibility with emerging technologies such as carbon capture and storage (CCS), enhanced oil recovery (EOR), gas to liquids (GTL). the value of the global underground coal gasification (UCG) market in 2012 will reach $570m.

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