With the U.S. on track to become a net exporter of natural gas, First Titan Energy, LLC (OTCBB: FTTN) is exploring potentially lucrative new servicing and development opportunities.
“A major boom in unconventional resources such as shale gas has placed the U.S. at the forefront of a major energy shift”
“A major boom in unconventional resources such as shale gas has placed the U.S. at the forefront of a major energy shift,” said FTTN CEO Robert Federowicz. “With natural gas selling in Europe at more than twice the price it fetches in the U.S., domestic efforts to ramp up exports of liquid natural gas (LNG) are in full swing. With such a potentially rich payoff at stake, FTTN is committed to capitalizing on every opportunity to help bring shale gas and other U.S. unconventionals to the world market.”
According to Washington-based consultancy PFC Energy, shale gas and oil will make up about one-third of total U.S. oil and gas production by 2020. By that time, the U.S. could be the top oil and gas producer in the world, surpassing even Russia and Saudi Arabia. LNG exports of domestic shale gas could become especially lucrative due to rapidly increasing demand from Asia, and from China in particular. The emerging superpower is exploring a switch from coal to gas in power generation to help curb its city’s serious air pollution issues.
FTTN is working hard to capitalize on the rush to recover and export shale gas and other unconventional resources by negotiating the potential purchase of RenGen, LLC, a developer of cutting-edge oil and gas technology and services. RenGen has developed a powerful oleochemical solvent called OGT capable of significantly lowering both the costs and environmental impact associated with the hydraulic fracturing process necessary to recover shale gas and oil. The company is already investigating new uses and possibilities for OGT in the booming worldwide unconventionals market.
For more information on FTTN’s unconventional resources initiative, please visit www.firsttitanenergy.com/investors.
First Titan is working to develop new energy solutions to compete in a booming global industry alongside Chevron Corp. (NYSE:CVX), Chesapeake Energy Corp. (NYSE:CHK), Exxon Mobil Corp. (NYSE:XOM) and Cheniere Energy, Inc. (NYSE:LNG).
Source: Business Wire
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