Green LNG Services AS (GLS), along with its wholly-owned subsidiary NetZeroGas Ltd, is an industrial development company owned and operated by a consortium of principals with global executive experience in oil & gas, shipping, engineering, and technology development enterprises. The ownership of the company by these principals and investors is a result of their financial investments and performance-related options tied to their technology and business development contributions to the company.

Mission: The mission of GLS is to develop value chains for overseas natural gas delivery in partnership with industry leaders, aiming to minimize environmental impact, including CO2 emissions, and reduce the cost of delivery. The focus is on Compressed Natural Gas (CNG) chains due to its lower environmental footprint and cost efficiency compared to LNG.

Innovation: GLS controls technology to substantially reduce the cost and carbon emissions of transporting natural gas as Compressed Natural Gas (CNG). The technology reduces value chain costs and carbon emissions relative to LNG. The company’s CNG transportation solution replaces liquefaction with compression and regasification with decompression. The technology required for loading high-pressure gas at 300 Bar is being patented by GLS.

Global Market: By leveraging existing submergible floating loading and unloading buoy solutions, the company can be flexible with respect to export and import locations. This loading/unloading flexibility enables the company to offer cost- and emissions-efficient transportation solutions – “floating pipelines” – to support projects that capture and monetize flared gas and stranded gas worldwide.

Focus: GLS is initially focusing on the US-Europe gas trade because of the extensive experience of the GLS team in these gas and transportation markets. The team includes the previous management of Statoil’s/Equinor’s international operations. This expertise has enabled us to engage in dialogue with major companies, significantly reducing the risk of GLS operations through gas offtaker and procurement contracts.

Technology and Manufacturing: GLS has the protected technology and management capability required to certify and fabricate large glass fiber reinforced GLS Type 3 cylinders for transporting CNG. We have secured exclusive rights to the fabrication IP and patent, along with a retainer arrangement with the team that developed the IP with proven small-scale fabrication and certification.

Regulatory Compliance: The GLS team includes individuals who have developed and verified the capabilities required for the fabrication, loading, shipping, and unloading of the GLS cylinders. GLS has reviewed the regulatory requirements of class and flag for the transportation of GLS cylinders on ships with Det Norske Veritas (DNV).

Final Investment Decision: The FID decision is expected to take place in 2027, with the first gas delivered in 2029. Volume is planned to increase from a first-year delivery of 1 MTPA under contract for 5 MPTA and expected expansion up to 24 MTPA. There are no tasks that the pre-FID team has not completed on a small scale in the past. The basic technology risk is considered medium to low, and the cost and timeline risks of scaling are manageable.