05.07.2009

Electricity tariff in Israel for industrial and commercial consumers, including educational and cultural institutions, medical institutions, hotels, governmental offices

GAAP are imposed on companies so that investors have a minimum level of consistency in the financial statements they use when analyzing companies for investment purposes.

GAAP cover such things as revenue recognition, balance sheet item classification and outstanding share measurements. Companies are expected to follow GAAP rules when reporting their financial data via financial statements

Usually same as overhead

The oil arm of Russian monopoly Gazprom

Owned 99.9% by PEC. It was established by PEC to build and operate GPP and of which CCC is the largest shareholder. GPP – Gaza Power Plant – the old form of naming GPGC. The Overseas Private Investment Corporation (OPIC) granted Morganti, the U.S strategic partner in Gaza Power Generating Company, Political risk insurance of USD48 million

The Gaza Marine natural gas field is situated 36 km offshore the Gaza coast. BG Group is operator of an exploration license covering the entire marine area offshore the Gaza strip and holds 90% equity in the GM field which would be reduced to 60% if the Consolidated Contractors Company (its current 10% partner in the license) and the Palestine Investment Fund exercise their options at development sanction.

Following acquisition of over 1000 km² of 3D seismic data, BG Group drilled two successful wells in the second half 2000 (Gaza Marine-1 and Gaza Marine-2). Reserves are estimated to be around 1 tcf. Indeed, on 29th August 2000 Gaza Marine-1 was spudded by the Southern Cross semi-submersible drilling rig in 603m water depth. The well targeted the large Lower Pliocene Gaza Marine Prospect, which is a 4-way dip closed anticline with DHI’s such as a prominent seismic flat spot. On 12th September 2000, the well reached a total depth of 1891m in the Messinian after encountering a 71m gas-bearing Yafo Sandstone Member reservoir. A 37m interval was tested and flowed at a rate of 37 MMscf/d on a 48/64” choke and this rate was constrained by the equipment. The well operation was completed on 6th October 2000.

In 2001, a technical review recommended a sub-sea development and pipeline to an onshore processing terminal in Israel. In 2002, an outline Development Plan was approved by the Palestinian Authority.

Established in 1914, includes customers in Jerusalem, Ramallah, Jericho and Bethlehem.