Galileo Technologies is looking to spearhead liquified natural gas (LNG) opportunities in the US, having received a $33m investment from Helmerich & Payne, North America’s largest land drilling solutions provider.
As well as the investment, however, the duo has also said they plan to identify and pursue business development opportunities that have the potential to reduce both fuel costs and carbon emissions from power consumption on well-sites.
Well drilling and completion is an energy intensive process and use of Galileo’s technology can enable the monetization of natural gas from any source (well head, flared, pipeline, stranded) by converting it into low carbon intensive LNG.
The converted LNG can be reused on site or transported and stored with ease creating a virtual pipeline. The use of natural gas as a fuel source is economically and environmentally beneficial as it is significantly cheaper than other fuels such as diesel and has a lower carbon footprint.
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