05.07.2009

Israel’s largest holding company with a substantial energy portfolio. IC’s primary holdings include: Israel Chemicals (ICL – a leading global fertilizers and specialty chemicals producer), Zim integrated shipping services, Oil Refineries (ORL – Israel’s largest integrated refinery and petrochemicals producer), Inkia Energy (a prominent Latin American power generation company), Tower Semiconductor, Project Better Place (a global developer of electric recharge grids supporting electric vehicles), IC Green Energy (a company focused on renewable energy projects and technologies).
Yam Tethys and Israel Corp – on 25.3.2008 an agreement was signed with IC for the total supply of 2 bcm of natural gas, the supply of which will start when the southern section of the pipeline is completed which should be around mid 2009 and also based upon the completion of the conversion of IC’s generation into natural gas generating units, which will be done gradually throughout the company beginning at the end of 2008 with the units at Sdom where most of the gas is due to be consumed. The supply will terminate either 5 years after supply starts but not later than September 2015 but can be extended by another year if not all the gas contracted for has been consumed.

Israel Corp is in the process of establishing two IPP projects: the tender OPC IPP for 400 MW at Mishor Rotem and a 400 MW IPP at their Dead Sea Plant.

In April 2010, the company also increased its energy business in South America, via its sub-subsidiary Kallpa, which is owned by its subsidiary Inkia and which won a PPA to supply 560 MW of electricity with a contract of 8-10 years as of 2014. IC intends setting up two more power stations so that with the three already existing stations their generation supply in Peru should reach 850 MW.

Intraday trading refers to opening and closing a position in a security in the same trading day. This can be buying and selling to capitalize on a potential rise in a security’s value or shorting and covering the short to capitalize on a potential drop in value. Intraday traders capitalize on small moves in the value of a security by using “leverage” or “margin”, which basically means borrowing money.

A customer who has a contract for interruptible service which enables the supplier to interrupt supply of gas at short notice and the buyer to pay a lower tariff for the gas. Low-priority service offered to customers under schedules or contracts which anticipate and permit interruption on short notice. Often in a gas transportation contract, it is possible that under certain circumstances that additional capacity (in excess of ‘firm capacity’) be made available. Whilst for instance the UK Interconnector is obliged, subject to physical and operational conditions, to make such additional capacity available whenever possible, availability may be interrupted at times and this capacity is therefore described as ‘interruptible capacity’.

IAEA is the world’s center of cooperation in the nuclear field, set up as the world’s “Atoms for Peace” organization in 1957 within the United Nations family. The Agency works with its Member States and multiple partners worldwide to promote safe, secure and peaceful nuclear technologies.

The idea that oil producers and consumers are mutually dependent on one another. An appreciation of interdependence in an important component in the evolving conception of
energy security.

Energy interdependence is about building a relationship of mutual dependence between energy producers and energy consumers. In reality, producers continue to invest billions of dollars in consuming countries – particularly the United States – and both sides have a strong interest in a healthy global economy. More specifically, consumers worry about security of supply; producers worry about security of demand. We can address both worries by increasing access and investment across the entire value chain from upstream oil and gas fields to refining and transportation to downstream markets – and developing widely-based joint ventures. Energy in the 21st century is increasingly characterized by large institutions responsible for satisfying consumer’s energy needs; long distances separating resource exploitation from resource consumption; finite nature of fossil fuel resources; the need for vast investments to satisfy world requirements ($1 trillion a year until 2030); climate change; petrodollars earned by oil and gas exporting countries and paid by importers all requires increasing interaction among nations all leading to greater energy interdependence, rather than national energy independence.

Intercontinental Exchange operates global commodity and financial products marketplaces, including the world’s leading electronic energy markets and soft commodity exchange. ICE’s diverse futures and over-the-counter (OTC) markets offer access to contracts based on crude oil and refined products, natural gas, power and emissions, as well as agricultural commodities including cocoa, coffee, cotton, ethanol, orange juice, wood pulp and sugar, in addition to foreign currency and equity index futures and options. ICE® conducts its energy futures markets through ICE Futures Europe, its U.K. regulated London-based subsidiary, which offers the world’s leading oil benchmarks and trades nearly half of the world’s global crude futures in its markets. ICE’s state-of-the-art electronic trading platform brings market access and transparency to participants in more than 50 countries. ICE Futures Europe offers liquid markets in the world’s leading oil benchmarks: Brent Crude futures and West Texas Intermediate (WTI) Crude futures. ICE also operates a liquid and transparent marketplace for trading North American OTC natural gas and power contracts.

A 40 inch diameter 238 km gas pipeline providing a strategic link between the UK and continental Europe, connecting the two gas transmission systems at Bacton in the UK and Zeebrugge in Belgium.

The Interconnector is bi-directional, such that the physical Flow Direction can either be from Bacton to Zeebrugge (Forward Flow) or from Zeebrugge to Bacton (Reverse Flow).

It has a capacity of 20 bcma in forward flow (GB to Belgium)and 25.5 bcm in reverse flow (B to GB).

The Third Package defines an interconnector as a transmission line which crosses or spans a border between member states for the sole purpose of connecting the national transmission systems of those member states.

Inside diameter of a pipeline, the measurement of which is important as one of the measures required to calculate the pipeline’s gas flow capacity

During 2007, Israel Corp acquired a portfolio (100%) of power generation assets in Latin America for $543 million. Inkia’s power plants are located in Peru, Bolivia, El Salvador, the Dominican Republic, Panama and Jamaica with various technologies with a total generating capacity of 2,200 MW (net capacity of 826 MW). 40% of the electricity produced is generated by hydro-electric plants