Although the seller’s obligation, in a GSA, is to deliver gas up to the delivery capacity level, the buyer will generally have some rights to request higher volumes. The seller’s obligation to deliver excess gas will be generally on reasonable endeavors basis. Excess gas will normally be paid for at a premium to the normal contract price. (e.g. If the buyer is entitled to nominate up to [120]% of MCQ on any day, then excess gas would be any quantity greater than [120 ]% of MCQ)
The EU’s main source of natural gas is Russia. Relationships between the two will worsen following the latest Gazprom-Ukraine fight in January 2009. Another issue with Russia is it is doubtful that Moscow will be able to finance the necessary investments in Eastern Siberian fields to maintain sufficient gas production levels and it is equally doubtful that Russia will be able to transport that gas to the faraway EU market, as the entire Siberian grid system is in great need of upgrading. The second largest supplier to the EU is from Norway’s offshore fields but these are likely to plateau around 2015. The third largest source of gas to Europe is Algeria. Because of the increasing fear of dependence on Russia, the idea for European governments to back a trans-Saharan pipeline to carry Nigerian gas to the Continent via Algeria is growing. The feasibility of such a project still needs to be assessed (2009), but if it were built it would turn Algeria into an important intercontinental gas hub for Europe. The European Commission projects that between 2005 and 2030 natural gas demand among the EU’s 27 current member states will rise 24% to 666 bcm from 537 bcm in 2009, with imports forecasted to stand at between 470-600 bcm. Imports in 2007 were 370 bcm. Another issue with Europe is that the liberalization of the EU gas markets has created a great uncertainty about the projections of the amount of gas needed in the future. If gas producers are to be in a position to mobilize the financial and technical means to explore for new gas and bring it to European customers they must be able to rely on guarantees regarding quantities.
Government or company bond traded outside the boundaries of one’s country (no relation to Europe)
In Israel’s electricity sector, the ESP is the holder of a license for transmission, distribution or system management, and the holder of one or more generation licenses who in the opinion of the Minister of National Infrastructures controls a material portion of electricity generation >
Equity investors (entrepreneur of the project) in large infrastructure projects such as an IPP are often more willing to take risks than the lenders (financial institutions). The entrepreneur has to satisfy the lenders regarding each parameter of the IPP project (land issues, legislation issues, GSA, PPA, etc.) before the lenders will commit their money. Such projects are often financed on a 20-80% basis (20% equity investor and 80% financial investor).
An Environment Management System (EMS) is a tool for managing the impacts of an organization’s activities on the environment. It provides a structured approach to planning and implementing environment protection measures. To develop an EMS, an organization has to assess its environmental impacts, set targets to reduce these impacts, and plan how to achieve the targets.
A document required of Federal agencies by the National Environmental Policy Act for major proposals or legislation that will or could significantly affect the environment. The document provides comprehensive information about a project’s purpose and need, proposed plans, and potential environmental effects
Such as the entry point and exit points of the natural gas transmission system. The entry point is where the gas enters the system after the producer’s terminal and the exit points would be the consumers, such as IEC’s power stations.
Entry point is the point where transmission capacity can be traded or contracted in order to input natural gas into the national network.
Exit point is a point where the transmission capacity can be contracted or traded to withdraw natural gas from teh national network.
Established in 1972 and is responsible for the management of oil and gas exploration and production activities on behalf of the State of Tunisia
One of Italy’s largest companies and one of the world’s largest oil and gas companies. Eni SpA, an integrated energy company, operates in the oil and gas, electricity generation, petrochemicals, oilfield services, and engineering industries. Its Exploration & Production segment involves in the oil and natural gas exploration, field development, and production, as well as liquefied natural gas (LNG) operations in 36 countries, including Italy, the United Kingdom, Norway, Libya, Egypt, Angola, Nigeria, Congo, the United States, Kazakhstan, Russia, and Australia. The company’s Gas & Power segment supplies, transports, distributes, and markets natural gas. This segment also produces electricity and steam with a total installed capacity of approximately 4.9 gigawatts; and operates a re-gasification terminal, and high and medium pressure pipelines for natural gas transport in Italy. Its Refining & Marketing segment involves in refining and marketing of petroleum products. The company is involved in the offshore construction, including fixed platform installation, subsea pipe laying, and floating production systems, and onshore construction, as well as provides offshore and onshore drilling services, and engineering and project management services to the oil and gas, refining, and petrochemical industries.
