05.07.2009

As per the Israeli Gas Law: a person who supplies natural gas intended for consumption in Israel and who brings it, by himself or via others, to a point of entry of the transmission system, including a holder of a lease who supplies gas as aforesaid. According to the Natural Gas Authority: private entities that transfer gas via a natural gas pipeline (whether Israeli or imported) or via an LNG receiving terminal on the Israeli coast and sell it to gas consumers and to marketers/shippers

Before 2003, gas was primarily a regional commodity, transported by pipeline and consumed near where it was produced. Often, it would be simply flared (burned off as waste) at oil wells, since transportation was so difficult. With advances in LNG over the last few years and economies of scale LNG has become more of a globally traded commodity

it is that portion of reservoir rock which will produce commercial quantities of hydrocarbon

The ratio of natural gas liquids to gas (in barrels/million cubic feet) in an oil field, calculated using measured natural gas liquids and gas volumes at stated conditions.

To take apart, disassemble and otherwise prepare to move the rig or blowout preventer

Monetization, or commercialization, refers to the commercial development of
hydrocarbons resources (gas and/or oil), which is aimed at bringing these resources
to market and hence establishing revenue streams for the upstream partners.

A process of ensuring a means, or the best means and lowest risk options of commercializing a gas resource which will take into consideration export options, LNG, CNG or GTL technologies and any other means to develop either conventional or stranded reserves

Represents the legal rights to explore for and produce the resources below the surface

Completion of a well such that production is obtained from several different formations