05.07.2009
Opposed to the Open Access method, whereas the owner of a facility, such as an LNG facility has all the rights over the capacity in the facility. Such facilities are also constructed as independent facilities. Until a decade or so ago, most LNG facilities operated under the proprietary access method and only recently have many adopted some form or other of open access
Process used in the refining of crude oil
One of several combustible gases which are present in varying quantities with methane in natural gas. When extracted from natural gas as a refined fuel, propane is particularly useful because it can be stored under pressure as a liquid at normal atmospheric temperatures. Propane is actually the gas used in the common barbecue
Project financing is an innovative financing technique used to fund many large-scale natural resource projects, from pipelines and refineries to electric-generating facilities and hydro-electric projects. Increasingly, project financing is emerging as the preferred alternative to conventional methods of financing infrastructure and other large-scale projects worldwide. Project finance is finance for a particular project which is repaid from the cash-flow of that project. in a project financing the financier usually has little or no recourse to the non-project assets of the sponsors of the project. The most important aspects are therefore the identification, analysis, allocation and management of every risk associated with the project. In a no recourse or limited recourse project financing, the risks for a financier are great. Since the loan can only be repaid when the project is operational, if a major part of the project fails, the financiers are likely to lose a substantial amount of money >
This represents the link between the petroleum accumulation and the decision making process, including budget allocation. A project may constitute the development of a single reservoir or field, or an incremental development for a producing field or the integrated development of a group of several fields. In general, an individual project will represent the level at which a decision is made on whether or not to proceed (i.e. spend money) and there should be an associated range of estimated recoverable volumes for that project
Regarding all matters relating to the construction of the natural gas transmission system and granting permission to enter on land after having carried out examinations of any opposition by the land owners
When governments try to capture the upside in a production sharing contract to allow them to benefit if oil prices increase