The world’s total gas reserves are estimated to be approx. 160 TCM. A substantial part of these reserves are situated far from the main gas markets with out pipeline or other infrastructure. Hence, it is often referred to as “stranded gas”, and if converted into synthetic fuel could generate billions of barrels with synthetic oil.

Statoil’s goal is to use GTL as a tool to get access to natural gas resources in prioritised regions for Statoil where the potential for building a larger business than GTL itself is significant and where GTL increases the likelihood for Statoil of achieving such a business position.

GTL may also be used to enhance the value of already achieved upstream positions through unlocking oil production, capitalize stranded gas and avoid gas-to-gas competition.