The strategic partnership aims to leverage the expertise and resources of both companies to expand UNRG’s processing capabilities of Liquified Natural Gas (LNG) and unlock its immense potential as a clean and versatile energy source
United Energy announces joint venture for LNG processing. (Credit: Rudy and Peter Skitterians from Pixabay)
United Energy Corporation (OTCMKTS:UNRG), a leading natural gas producing energy company, announces today a joint venture partnership with Bridge Energy, LLC of Houston, Texas.
The strategic partnership aims to leverage the expertise and resources of both companies to expand UNRG’s processing capabilities of Liquified Natural Gas (LNG), and unlock its immense potential as a clean and versatile energy source.
This strategic partnership provides UNRG with scalable gas liquefaction systems to install on its assets in the U.S. regions of Oklahoma and Kansas. This will allow UNRG to open new markets in areas seeking to switch from heavy-burning fuels, like diesel, to more efficient energy sources, like LNG. The first system, capable of producing up to 7K gallons of LNG per day, is expected to be installed in the 4Q of this year. If successful, UNRG intends to rapidly increase production capability throughout 2024. The systems are provided by Arc Energy of Houston, Texas, a global supplier of production and processing equipment to the energy industry.
Natural gas has proven environmental advantages over other conventional energy sources. By converting natural gas into its reduced volume liquid form, LNG offers even greater efficiency, affordability, and accessibility in various applications.
“This partnership will enable us to capitalize on the growing demand for LNG and meet the energy needs of diverse industries and markets,” said Brian Guinn, CEO of UNRG.
“LNG offers numerous benefits as a sustainable energy solution. Combining our expanding natural gas production capabilities with cutting-edge LNG liquefaction processing technologies, we will streamline the production, storage, and transportation of LNG. This benefits the environment as well as new customers, especially in regions with limited pipeline infrastructure.
“Revenue from the sale of LNG offers a considerably higher yield on the same molecule of gas. Shareholders should see this as a significant evolution of our business model,” Guinn stated.
By harnessing the potential of LNG and enhancing its accessibility, we aim to support the global transition to cleaner energy sources while fostering economic growth and development.
Source: Company Press Release