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Home > Oil Gas News > Funding Approval for Power Generation Project with Stranded Gas Resources
Funding Approval for Power Generation Project with Stranded Gas Resources
Jaker Engineering, PC has received initial approval from the New York State Energy Research and Development Authority (NYSERDA) for partial funding of a project for power generation with stranded gas wells. These well sites, often referred to as "stranded resources", can be useful for small-scale power generation. Efforts to qualify potential stranded gas well sites in New York State have begun.
(PRWEB) November 7, 2005 -- A business model by Jaker Engineering, PC, identifies the criteria to develop gas wells as sites in order to generate power for sale on the open market. Jaker is already planning future developments coupling power generation with food and manufacturing production. Jack Perkins, President/ CEO of Jaker Engineering, PC is presenting this business concept at the 25th Annual Meeting and Conference of the Independent Oil and Gas Association of New York (IOGA of NY) on November 9th, 2005.
Jaker Engineering, PC developed the concept to design, initiate and complete a stranded gas power generation project within the United States in order to prove the small-scale power generation concept. Technical and logistical details are now being resolved for a locally developed pilot project so that this concept can be exported. The design uses proven equipment and technologies. Jaker also developed a qualification criterion that can quickly assess the potential for economic return on each project.
Jaker's business model provides an opportunity for well sites which are not economical for pipeline connection. Projects in the 1 Megawatt size range can demonstrate a simple payback of 3 to 4 years. Only 300 to 400 MCF (thousand cubic feet) of daily production is required per megawatt. With Jaker’s model, approximately 70% of the capital can be recovered in the event that gas flow abruptly stops. In most cases, power generation sales pays for this investment in 12 continuous months of operation.
About Jaker, Inc.
Jaker Engineering, PC, a New York State Professional Corporation, focuses primarily in the energy sector for development of privatized energy projects. Jaker maintains a professional emphasis in electrical, mechanical and control systems. Jaker provides all professional services required for identification, financial qualification and technical development of privatized energy projects.
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