Compressed Energy Technology - CETech

In August 2004, Statoil, Teekay Shipping and Höegh LNG turned a long-term project cooperation into the company CETech. The objective of the cooperation was to commercialize a compressed natural gas (CNG) transport technology, enabling shipment of natural gas under high pressure from offshore fields to terminals on land or offshore. Since then, CETech has expanded its scope, by offering a combined CNG/oil carrier in addition to its single-purpose CNG Shuttle. The three companies have equal participating interests in the new company.

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