FT: Hayward to chair gas-to-oil company

Tony Hayward, the former chief executive of BP, has been appointed chairman of CompactGTL, a fast-growing company at the forefront of efforts to turn natural gas into synthetic crude oil.

The appointment highlights the growing popularity of gas-to-liquids technology, particularly in the US where the shale boom has created an abundance of cheap natural gas.

Gas to liquids allows companies to exploit the new arbitrage opportunities opened by the gap between the high international price of oil and the much lower gas price, particularly in the US.  MORE