Tidelands Oil & Gas Corporation (TIDE)

[derickman]

here is the latest on SCal... BP or Occidental??

looks hot.. Maul says ,,several technology options are still being evaluated for the floating terminal,,, industry speculation, BP or Occidental as partner.. Occidental says it has no knowledge of this..



Houston technology company is leading the race for LNG terminal
Torp short odds for Long Beach

By Upstream staff

TORP Technology, a Houston-based company owned by Norwegian interests, is a leading contender for the design and development of an offshore regasification terminal for the proposed Esperanza project off Long Beach, California.
Torp's HiLoad concept, essentially a floating forklift that latches onto the side of liquefied natural gas carriers, is already a favourite of Esperanza sponsor Tidelands Oil&Gas.

The small San Antonio operator and its Mexican subsidiary Terranova Energia recently reiterated their full commitment to Torp Technology and its patented HiLoad for importing LNG off north-east Mexico.

Terranova also advised that it has "concerns over LNG supplies for near term delivery" in the Atlantic basin and US Gulf.

"Supplies available for delivery in the Atlantic basin are either contracted for or going to alternative markets," Terranova said in a statement released to Upstream, with imports not appearing likely "until around 2011 to 2013".

With the initial disclosure of the Esperanza project on 4 April, it is quite possible a HiLoad could jump the line ahead of the Mexican project and appear on the southern Californian horizon by 2010.

However, a HiLoad model specifically designed to address California's particular environmental concerns is likely to be required.

This design is expected to feature both zero discharge and zero emissions in an attempt to take the breath out of the arguments of Californian environmentalists.

Torp chief executive Lars Odeskaug declined to comment.

However, those features still may not be enough. Already, the mayor of Malibu Andy Stern is pledging the city's financial and legal resources to fight BHP Billiton's proposed Cabrillo Port regasification terminal.

David Maul, a former manager of the California Energy Commission's Natural Gas Office and a key proponent for Esperanza, said several technology options are still being evaluated for the floating terminal.

"We're still in the process of seeking input from all the parties and we're setting up meetings with stakeholders," he said.

Industry speculation has focused on names like BP or Occidental as oil majors that could be interested in providing the financial backing that Tidelands alone lacks. An official with Occidental in Houston said he had no knowledge of any participation.


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12 April 2006 23:01 GMT | last updated: 13 April 2006 04:44 GMT

http://www.upstreamonline.com/hardcopy/news/article108333.ece