Gas plant products are natural gas liquids recovered from natural gas in gas processing plants and in some instances from field activities. Gas plant products include ethane, propane, butanes, butanes-propane mixtures, natural gasoline and plant condensates, sulfur, carbon dioxide, nitrogen and helium
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.
A well completed for production of natural gas from one or more gas zones or reservoirs. Such wells contain no completions for the production of crude oil
Costs incurred in making geological and geophysical studies, including, but not limited to, costs incurred for salaries, equipment, obtaining rights of access, and supplies for scouts, geologists, and geophysical crews
Re-gas vessels have recently been developed (2005) as an alternative to onshore LNG import terminals. The vessel provides for the on-board regasification of LNG and discharge the high pressure gas directly into the transmission system via a dedicated mooring arrangement (STL buoy) and subsea high pressure pipeline, thus bypassing the need for the onshore terminal. This new concept has several advantages: less stringent regulatory requirements than onshore terminal, less security concerns, greater flexibility as the system is relatively easy to move to meet demand at varying locations
General terms and conditions entered into between a natural gas supplier and a consumer.
A GSA or a GSPA can be a supply contract or a depletion contract. It can be short, medium or long term.
Some of the main clauses in a GSA agreement include: identity of buyer, identity of seller, Securities provided by buyer, Securities provided by seller, Conditions Precedent of Buyer, Conditions of Precedent Seller, Commencement Date / Expected first delivery date, Commissioning Period, Contract Period, Extension of Term, Transportation, Delivery Point, Delivery Pressure, gas quality, Contract Quantities of Gas (hourly, daily, yearly contracted quantity + maximum H/D/Y contracted quantity, Take or Pay Quantity, Make-Up Rights of Buyer, Carry Forward Rights of Buyer, Excess gas, Shortfall gas, Nomination Procedures, Contract Gas Price / formula / indexation / escalation (provisions covering movements in the contract price over the period of the contract, by reference to specified indices), potential Price reviews, Excess gas price, Invoicing and Payment, Maintenance periods of seller and buyer, Planned and Emergency Temporary Shutdowns, Obligation to Supply Gas, Warranties and Undertakings of Seller, Warranties and Undertakings of Buyer, Force Majeure of parties, Effects of Force Majeure, Default, Buyer and seller’s Liabilities, Suspension and Right of Termination, contract assignment, Governing law.
