Solar Beats Gas Unlocking Middle East’s Heavy Oil, Report Says
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Solar energy is cheaper than natural gas in powering enhanced oil recovery projects in the Middle East that tap heavy, viscous forms of crude, a developer of the technology said.
Solar power for so-called EOR projects costs about $5 to $7 per million British thermal units of energy, half of the $12 to $18 price for liquefied natural gas, according to Rod Macgregor chief executive officer of California-based GlassPoint Solar Inc., a company offering solar projects to the oil industry.