High efficiency means that a power station is able to use relatively lower amounts of fuel.
Such as in the generation capacity of CCGTs is of a high efficiency in the order of 55-65% compared to 38-39% efficiency in the existing fuel oil and coal stations
The Henry Hub spot price averaged $9.13/Mcf in 2008 but ended the year averaging $5.99/Mcf in December. The US Energy Information Administration cut its projected 2009 average Henry Hub spot price to $5.78/Mcf in January ($5.52/MMBtu) from its December forecast that prices would average $6.25/Mcf this year. Prices are expected to begin to increase in 2010 as the economy improves. EIA predicted prices to average $6.63/Mcf in 2010. Henry hub is the key marker for prices in the states, but the prices in the states are not necessarily the key indicator for prices in the rest of the world. If there is a lot of demand in Europe and in the States the gas will tend to go to Europe because the prices will tend to be higher. HH denotes the prices in the swing market in the states. Swing market is a market where there is a large potential ability to put in and extract quantities from the market place and thus prices will tend to fluctuate. Europe is more driven than the US by direct relationship between oil and gas. Much more of the market in the states is driven by a supply demand spot market and so the US market is the market of last resort in the Atlantic.
A light inert gas and the second most abundant element in the universe.
Tracking mirrors used in solar energy.
Avenue Group won a license to carry out exploration activity in the Haletz Kochav field which spans 230 thousand dunam from Tel Aviv in the North to the Gaza Strip in the South, which is the only significant onshore oil field in Israel. The 60,000 acre licenses contains Kochav, Barur and Haletz oil fields from which 17.2 million barrels of oil have been produced to date of the estimated oil in place of 94.4 million bbl (P50). Heletz-Kokhav License is 60,000 acres was awarded in September 2007 (75% to Avenue and 25% to Lapidtoh). The Iris license is 8,000 acres awarded in February 2008 75% to Avenue and 25% to Lapidoth. Heletz was the first oil field discovered in the Eastern Mediterranean and remains Israel most significant oil producing field. It was first discovered in 1955. In between 1955 and 1962 drilling of development and step out wells was carried out in the Heletz area and wells in the Brur area. Between 1962 and 1968 drilling of development and step out wells in the Kokhav area following the oil discovery of Kokhav 1. Between 1969-1997 step out and field extension wells. All in all 88 wells were drilling during the lifetime of the lease over an area of 4,500 acres, 60 of which were deemed producing wells. The first well (Heletz 1) was drilled to a depth of 4800 feet (1515 Meters) and recognized as a producing well on 12 October 1955. Peak production occurred between 1959-1967 when daily production was between 2,500 and 4,000 barrels of oil per day (“BOPD”). Heletz is said to have produced 17.2 Million barrels of oil to date out of an estimated 19.1 Million barrels of primary recoverable reserves and an estimated oil in place of 94.4 mm bbl and remains the most prolific oil field discovered onshore Israel. 4 wells were shut-in in August 2006. The field was restarted in June 2008.
A provision in an oil or gas lease that perpetuates a company’s right to operate a concession as long as the concession produces a minimum paying quantity of oil or gas.
A type of contract used to establish a predetermined price that will be paid for a given amount of electricity regardless of what the actual market value of that energy might be at the time it is delivered to the customer. This type of contract provides the purchaser with the certainty of a fixed price for the commodity and insures a guaranteed sale price for the seller
