Estimated Ultimate Recovery is defined as those quantities of petroleum which are estimated, on a given date, to be potentially recoverable from an accumulation, plus those quantities already produced therefrom. Estimated Ultimate Recovery is not a resource category as such, but a term which may be applied to an individual accumulation of any status/maturity (discovered or undiscovered).
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.
An olefinic hydrocarbon recovered from refinery processes or petrochemical processes. Ethylene is used as a petrochemical feedstock for numerous chemical applications and the production of consumer goods.
The world will have to invest $1 trillion a year by 2030 to ensure adequate energy supplies. Energy demand will continue to grow on average at a rate of 1.6% between 2006 and 2030 an increase of 45%. Demand for oil is expected to be 106 million barrels a day in 2030
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 gap between the amount of energy produced from petroleum and the amount of energy required to extract it, produce it and refine it. The current status could alter if we pass the oil peak since at such a stage the cost of producing every barrel of oil will increase drastically
Eolian materials or structures are deposited by or created by the wind.
Excelerate Energy is an importer of liquefied natural gas (LNG), a provider of regasification services, and a developer of unique market access points around the world that is redefining the way LNG moves around the globe with its unique logistical services and trading platform. Excelerate Energy changed the LNG industry with the development of the Energy Bridge technology which increased the availability of natural gas to markets. Excelerate Energy’s first buoy-based offshore receiving facility, Gulf Gateway Deepwater Port was, and still is, the first of its kind of LNG receiving facility in the world. Energy Bridge Regasification Vessels, or EBRVs, are purpose-built LNG tankers that incorporate onboard equipment for the vaporization of LNG and delivery of high pressure natural gas. These vessels load in the same manner as standard LNG tankers at traditional liquefaction terminals, and also retain the flexibility to discharge in three distinct ways. These are: as liquid at a conventional LNG receiving terminal, as a gas through the EBRV’s connection with a subsea buoy in the hull of the ship, and as a gas through a high pressure gas manifold located forward of the vessel’s LNG loading arms.
The proportion of production that a concession owner has the legal and contractual right to retain
