Marine fuel emulsification technology firm Quadrise Fuels International (QFI) on Wednesday signed a Memorandum of Understanding (MOU) and MSAR® Pilot Test Programme (MTP) with a European multinational integrated oil and gas company (the major).
Further to the MOU, Quadrise and the major intend to work together to discuss, promote and develop specific business development opportunities to identify potential MSAR® clients for one of the major's European refineries
They will focus on a high level MSAR® fuel market assessment for the major’s refinery and pursue a feasibility study agreement from a potential MSAR® fuel client for the consumption of MSAR® produced at the refinery during 2019.
Under the MTP, Quadrise will be undertaking testing of specific refinery residues for the major at the Quadrise Research Facility during early 2019 on a paid basis to demonstrate and optimise the blending of refinery residues to MSAR® fuel.
“We are delighted to have developed our relationship with a European multinational integrated oil and gas company and are confident that with the combination of Quadrise's MSAR® technology and fuel experience, and the client's world-leading downstream operations, trading and logistics capabilities, we will be able to successfully define and progress this potential MSAR® supply project jointly,” said Mike Kirk, Executive Chairman of QFI.
Related: Quadrise fuel emulsification projects suffer $4.32 million loss
Related: Quadrise: Economics for MSAR projects to improve with IMO 2020
Related: Quadrise: Marine fuel emulsification markets ‘positive’
Related: Quadrise emulsified fuel oil project suffers setback
Photo credit: Quadrise Fuels International
Published: 29 November, 2018
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