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AFX Asia (Focus): Mitsubishi Heavy, Shell, Exxon Mobil to develop coal liquefying device – report

Published: Sep 13, 2007

TOKYO (Thomson Financial) – Japanese heavy engineering and shipbuilding company Mitsubishi Heavy Industries Ltd will jointly develop coal liquefication facilities to produce gasoline and other petroleum products, with Royal Dutch Shell Plc and Exxon Mobil Corp, to deal with surging crude oil prices, the Nikkei reported on Thursday.

Shell and Exxon Mobil each aim to introduce such facilities beginning in 2010, and have embarked on projects to develop large-scale commercial plants capable of processing around 100,000 barrels of oil each day, the business daily said, without citing sources.

Mitsubishi Heavy will develop a special compressor which compress the oxygen and hydrogen produced when coal is thermally broken down.The Japanese company will invest 10 billion yen within the next two years to boost production capacity at a plant where chemical compressors are developed and assembled.

(1 US dollar = 114.16 yen)

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