Global Energy Ventures Ltd. announced the selection of the Gulf Coast, USA, as its next region to develop a CNG export terminal, located in the Gulf of Mexico. GEV has commenced due diligence with operators of numerous offshore platforms connected to existing offshore and onshore gas pipelines serving producers in and near the US Gulf of Mexico. The US Gulf of Mexico contains under utilised gas pipelines and platforms with connecting pipelines to shore for access to the major gas resources available along the Gulf States. In the selection of a US located site, GEV's strategy is to position the export facility where all or most of the infrastructure is already in place such that GEV would add compression and loading facilities to transfer the CNG to the Company's CNG 200 Optimum ships. GEV has commenced discussions with an operator of an offshore platform with capacity to transport GEV's initial requirement of 220MMscf/d (or 80bcf/year), with the parties to work together to determine the technical and commercial viability of repurposing an existing platform as a potential CNG export terminal. Adjoining pipelines currently transport gas for major gas suppliers and gas aggregators who can offer gas supply at or close to the Henry Hub Index pricing. GEV will immediately commence work on the selection of the platform review and gas supply options, as well as, for a plan for US regulatory approvals. This regulatory approval process is considered as well defined, and the Company expects that all approvals will be obtained in a timely manner. GEV will progress to a preferred export site from the shortlist of platforms already identified, together with the associated commercial terms. GEV will update shareholders in the current quarter of 2019. US gas is plentiful and relatively low cost. The US government agency EIA in their 2019 Annual Energy Outlook has forecast continued resource and production growth in the unconventional basins by 2025 to achieve 99 Bcf/d, along with the Permian gas outlook increasing driven by oil production economics, gassier wells being drilled, and generally more investment by the majors. Therefore in view, a looming gas oversupply is expected to keep Henry Hub Index prices stable and lower for longer and has established the US as a major exporter of gas via LNG. It is logical for GEV to target the US as a gas supply region for the deployment of CNG Optimum gas transport solution. Gas pricing in the US for the Henry Hub Index is now expected to stay within the USD 2.50 to 3.00 per MMBtu range for the foreseeable future, with spot rates currently at USD 2.30/MMBtu.