The Energy division Syn was established in response to India’s increasing demand for more affordable and efficient energy solutions.
2016
I had a meeting with the President of Equatorial Guinea and officials from the Ministry of Mines to talk about how Syn could contribute to the country’s development efforts.
2016
We’ve started discussions about potentially developing the EG-01 block. The rights to develop this oil block have been granted to Syn and its partners.
2016
We’ve finished going through our internal geological audit of the seismic data we already have.
2016
We finished up all the necessary business for the opportunity in Equatorial Guinea.
2016
A test hole has been drilled, and according to the lab report from Schlumberger, it shows that there’s commercially viable dry methane gas present, which matches what’s been found in nearby wells.
2016
We inked a deal with Ramoworld India to grow our sales team for Syn in India.
2017
We’ve begun the journey of identifying and narrowing down the best investment opportunities for developing the EG 01 block in Equatorial Guinea.
2017
Created a structured sales strategy for the Indian market, prioritizing the identification and sale of Liquefied Natural Gas (LNG) to major Indian companies and local power plants.
2018
We successfully secured a $60 million investment in the first round of funding to support the development of the EG 01 block in Equatorial Guinea.
2018
We’ve established official sales agreements with a number of prominent Indian companies and power plants to provide them with LNG.
2018
You’ve been invited to meet with key people in India’s LNG market to collaborate on strategizing and supporting the growth of LNG infrastructure in the country.
2018
We’ve just finalized a contract with the company currently holding the concession rights. We’re set to begin drilling and extracting oil from a significant offshore block in the Middle East.
2018
I worked on creating and finalizing an agreement with a well-established drilling company. They’ve got a wealth of experience, having drilled over 7,000 wells for exploration and production in the Middle East Block.
Timeline – Forward Looking
Keep seeking out more strategic sourcing partners to meet India's growing demand for LNG.
Enhance our ability to trade.
Currently, we have the capacity to provide you with as much as 800,000 metric tons of liquefied natural gas every month. Our prices are among the most competitive globally, and we operate on a Free on Board (FOB) basis from Singapore.
We provide LNG contracts at a set price for a period of 12 months.
The pricing is fixed for the initial term and can be renewed for up to five years at the same rate.
The first liquefied natural gas (LNG) that can be accessed is available starting from May 1, 2020.
Each shipload carries 100,000 metric tons.
Typical LNG Specifications
Parameter
Value
Nitrogen
0.19%
Methane (CH4)
More than 91%
C2H6
6.65%
C3H8
2.3%
i-C4H10
0.41%
Total
100%
HHV Gas Btu/SCF
1115.6
WOBBE Index
1412.6
GPM C2+
2.72
According to Sinopec's specifications, methane content exceeds 90%.