Source: MAD-Mongolia              Date: August 24, 2011

Mongolia will transition from a fuel importer to exporter within the next two years, said Envidity Incorporated chairman Wesley Clark. With support for the Mongolian government, the company is planning to extract coal for fuel conversion.

In cooperation with Liver Energy Group and Shine Shivee LLC, Envidity plans to extract “economically stranded” coal, 150 meters deep underground. The coal extracted in this project will be turned into synthetic diesel using new technology, said Clark. Project operations started in July and USD 1 billion has been dedicated to the project.

The Mongolian government supports this project, believing it can help reduce Mongolia's dependence on foreign imports. The project has the potential to produce 1,000 barrels of synthetic diesel each day before two years are over. This would satisfy 10 percent of local demand. Furthermore, project planners believe they will be able to produce 14,000 barrels each day within 60 months.
“Prime Minister Batbold asked me in March 2010 during a meeting in Ulaanbaatar to help bring this kind of project to Mongolia,” said Clark. “With the Envidity Project now ready for launch, I have kept my promise to the Prime Minister in bringing this patented UCG-GTL technology to Mongolia to allow domestic production of transport fuels. This is a key strategic project for Mongolia.”

This project aims to grants Mongolia the world's largest clean-energy technology transfer in history. The synthetic fuel is a clean and reasonably priced fuel alternative for the future, said the company. The project will create 3,000 construction and 150 high salary positions for Mongolians, reported MAD-Mongolia. Project planners are considering 7 different commercial plants within the next 15 years and estimates project USD 7 billion from investors.