TECO Power Services Corporation, a subsidiary of TECO Energy Inc., has signed a Memorandum of Understanding with CITGO Petroleum Corporation to develop an integrated gasification combined-cycle power plant adjacent to CITGO’s Lake Charles Manufacturing Complex in Louisiana using Texaco Development Corporation’s proprietary gasification technology. Texaco Power and Gasification Global, Inc. has the right to participate in the development of the project. The gasification process converts low-value hydrocarbons, such as petroleum coke, into a clean-burning synthesis gas for use in a number of industrial processes, including electricity generation. The manufacturing complex will supply the power plant with 5000 tons per day of petroleum coke and excess refinery fuel gas as feedstock. The plant, which would begin commercial operation in January 2005, would provide electricity to the region’s wholesale energy market, as well as hydrogen and steam to CITGO for use in its manufacturing complex.
