GEV and EnerSea sign CNG Agreement

Global Energy Ventures Ltd (GEV) has executed an exclusive Technology and Development Cooperation agreement with EnerSea Transport Inc to accelerate discussions underway in two markets identified for CNG.
CNG is a proven, safe, reliable and well-established technology. CNG that has delivered to markets can replace fuels such as coal, fuel oil and diesel, significantly reducing CO2 and other emissions.
Under the terms of the Agreement, GEV has the exclusive rights to the EnerSea Technology for the supply of CNG in high-growth gas demand markets such as Indian sub-continent, which includes India, Pakistan and Sri Lanka; and Indonesia.
GEV considers EnerSea to be the global leader in the CNG industry, with the EnerSea’s VOTRANS™ (Volume Optimized Transport and Storage) technology providing for a cost-effective transport solution for natural gas to markets where alternative gasdelivery solutions such as pipelines or liquefied natural gas (LNG) are not economic or geopolitically practical.
GEV and EnerSea are to negotiate with Technical Services Agreement (TSA) and Master Licence Agreement (MLA) and anticipate that the above terms will be met before 31 May 2017, the expiry date of the Agreement (which can be extended by mutual agreement).

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