United Energy Corporation Announces Joint Venture for Liquified Natural Gas (LNG) Processing

Rhea-AI Summary

United Energy Corporation announces a joint venture partnership with Bridge Energy to expand its processing capabilities of Liquified Natural Gas (LNG). The partnership provides scalable gas liquefaction systems to install on UNRG's assets in Oklahoma and Kansas. The first system is expected to be installed in 4Q of this year.

Positive

• The joint venture partnership with Bridge Energy will enable United Energy Corporation to expand its processing capabilities of LNG, opening new markets and increasing production capability throughout 2024.

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PLANO, Texas--(BUSINESS WIRE)-- United Energy Corporation (OTCMKTS:UNRG), a leading natural gas producing energy company, announces today a joint venture partnership with Bridge Energy, LLC of Houston, Texas.

The strategic partnership aims to leverage the expertise and resources of both companies to expand UNRG’s processing capabilities of Liquified Natural Gas (LNG), and unlock its immense potential as a clean and versatile energy source.

This strategic partnership provides UNRG with scalable gas liquefaction systems to install on its assets in the U.S. regions of Oklahoma and Kansas. This will allow UNRG to open new markets in areas seeking to switch from heavy-burning fuels, like diesel, to more efficient energy sources, like LNG. The first system, capable of producing up to 7K gallons of LNG per day, is expected to be installed in the 4Q of this year. If successful, UNRG intends to rapidly increase production capability throughout 2024. The systems are provided by Arc Energy of Houston, Texas, a global supplier of production and processing equipment to the energy industry.

Natural gas has proven environmental advantages over other conventional energy sources. By converting natural gas into its reduced volume liquid form, LNG offers even greater efficiency, affordability, and accessibility in various applications.

“This partnership will enable us to capitalize on the growing demand for LNG and meet the energy needs of diverse industries and markets,” said Brian Guinn, CEO of UNRG.

“LNG offers numerous benefits as a sustainable energy solution. Combining our expanding natural gas production capabilities with cutting-edge LNG liquefaction processing technologies, we will streamline the production, storage, and transportation of LNG. This benefits the environment as well as new customers, especially in regions with limited pipeline infrastructure.

“Revenue from the sale of LNG offers a considerably higher yield on the same molecule of gas. Shareholders should see this as a significant evolution of our business model,” Guinn stated.

By harnessing the potential of LNG and enhancing its accessibility, we aim to support the global transition to cleaner energy sources while fostering economic growth and development.

About United Energy Corporation: www.unrgcorp.com

About Bridge Energy: Bridge Energy is an energy development company and investor focused on midstream and upstream developments.

About Arc Energy: www.arcenergy.com

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View source version on businesswire.com: https://www.businesswire.com/news/home/20230801008989/en/

Media Contact:

Kimberly Stillwagon

uecorpinfo@gmail.com

214-901-5453

Investor Contact:

Brian Guinn

info@unrgcorp.com

469-209-5829

Source: United Energy Corporation

FAQ

What is United Energy Corporation's joint venture partnership about?

United Energy Corporation has announced a joint venture partnership with Bridge Energy to expand its processing capabilities of Liquified Natural Gas (LNG).

Where will the first system be installed?

The first system is expected to be installed in the 4Q of this year.

What are the benefits of LNG as a sustainable energy solution?

LNG offers numerous benefits as a sustainable energy solution, including greater efficiency, affordability, and accessibility in various applications.

How will this partnership impact United Energy Corporation's business model?

The partnership with Bridge Energy is seen as a significant evolution of United Energy Corporation's business model, offering higher revenue from the sale of LNG.