Brakes Put On Planned Coal-to-Gas Plant in Kentucky

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Researched by Industrial Info Resources (Sugar Land, Texas)--ConocoPhillips (NYSE:COP) (Houston, Texas) has put the brakes on a proposed joint venture with Peabody Energy Company (NYSE:BTU) (St. Louis, Missouri) for the construction of a multibillion dollar coal-to-synthetic gas plant in Kentucky.

ConocoPhillips and Peabody were to combine forces to design, engineer and build a plant that would transform coal and other low-cost feedstocks into 190 million cubic feet per day of clean-burning synthetic gas. ConocoPhillips' proprietary "E-Gas" technology gasification was to be used for the process. The gas could then be used as a fuel source for electrical power generation or be used in refining applications.

ConocoPhillips and Peabody decided to put a hold on the $3.5 billion venture, due to uncertainty in the economy and low natural gas prices. The project was originally proposed in 1997.

The joint venture project was to be located Central City, Kentucky, which is about 126 miles southwest of Louisville.

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