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Stream Oil & Gas Ltd. - Delvina gas field power plant study
TSX-V: SKO VANCOUVER, Oct. 14 /CNW/ - Stream Oil & Gas Ltd. (the "Company"), is pleased to announ...
About this update from Storm Exploration Inc
[{"type":"text","content":"\n\n\n\nTSX-V: SKO\n\n\nVANCOUVER, Oct. 14 /CNW/ - Stream Oil & Gas Ltd. (the "Company"), is\npleased to announce positive results from the Poyry Energy Srl "Delvina Gas\nPower Plant Project" scoping study evaluating the installation of a 150MW gas\nfired power plant on the Delvina Gas Field in southern Albania.\n\n\nPoyry Energy is a global consulting and engineering company and a\nworldwide leader in the energy sector. Poyry's core areas of expertise are:\nmanagement consulting, hydropower, renewable energy, power & heat, oil & gas.\nIn addition, Poyry holds a strong position within engineering and project\nservices for nuclear technology, transmission and distribution as well as\nindustrial processes.\n\n\nThe Delvina Power Plant Project includes the conversion into electricity\nby a combined cycle plant located in close proximity to the Delvina gas field.\nInitially, the size of this plant would to be around 100 MW, with an extension\nto 150 MW at a later stage. The gas consumption of a 100 MW power plant at\nbase load is around 480 MNcm3/d, which is in line with Company's gas\nproduction forecast from the Delvina gas field.\n\n\nAccording to the study, overall investment cost for a 100MW station is\napproximately 90 M Euro ($126M USD) and with a life time of 20 years is\neconomic even under the assumption of current local pricing for gas at around\n$15Nmcf which represents three fourths of the operating costs. The results of\nthis scoping study suggest that an investment a gas fired power plant as\nplanned the Company in Albania is viable because:\n\n\n- Albania needs to diversify its primary energy supply for electricity\n generation. The country currently depends on hydropower plants with\n varying generation capacity caused by fluctuating precipitation\n\n- Albania needs additional domestic power generation capacity due to\n high demand growth\n\n- Capacity shortages are likely to result in high electricity prices\n\n- There is an attractive investment climate for foreign direct\n investment in the power sector\n\nFurthermore the study indicates:\n\n Attractive investment climate in Albania - Many investors in the\n power sector are targeting the country and recent developments show\n that the Albanian government is favoring foreign investment. The\n current state of the generation, transm...