January 14, 2008
Prometheus Energy Begins Construction on Utah LNG Plant
Prometheus Energy Company (Prometheus), an alternative and renewable energy company, announced it has begun construction on its liquid natural gas (LNG) production plant in Lisbon, Utah. Commercial production of 12,000 gallons of LNG per day is expected to begin in the second quarter of 2008. The project's second phase will commence later this year and will increase plant output to 22,000 gallons per day.
The Lisbon site is in addition to Prometheus' projects in California, including at the Bowerman Landfill and a site in Fresno County providing Prometheus access to gas resources capable of producing around 37,000 gallons of LNG per day by year end. Prometheus also has obtained its building permit for the 10,000 gallon per day facility at the Krupinski Coal Mine in Poland and expects to break ground on that project by the end of March or earlier as weather permits."Beginning construction on the Lisbon plant is another major milestone for Prometheus as we continue to develop diverse supply sources for the natural gas vehicle market. Approximately 200,000 gallons of LNG is consumed in the US every day and the market continues to grow steadily," said Prometheus CEO, Kirt W. Montague.
Prometheus signed a contract with North American-based natural gas producer, EnCana Oil & Gas (USA), Inc. in the fall of 2007 to acquire residue (methane) gas from its cryogenic natural gas processing facility in San Juan County, Utah. LNG produced at the Lisbon plant will be transported via tanker to vehicle fleet customers in the Western US, displacing nearly 3.5 million gallons of diesel fuel annually.
This press release does not constitute an offer for the sale of securities in the United States. Prometheus' securities are restricted under US securities laws and may not be offered or sold in the United States absent a registration statement or a valid exemption from registration.
Notes to Editors
Prometheus Energy Company is headquartered in Seattle, Washington. Prometheus is a global alternative and renewable fuel company focused on the idea of Enlightened Energy™, where sustainable and cleaner fuel in the form of liquid natural gas (LNG) is made from waste sources of methane produced close to where it will be used. The Company is an emerging leader in integrating small-scale purification and liquefaction systems to produce LNG from sources including landfill gas, stranded gas wells and coalbed/coalmine methane. For more information concerning Prometheus please contact us at (206) 267-0800 or visit www.Prometheus-Energy.com.