Wednesday July 25, 2012

I've Been Thinking:

British Petroleum (BP) just won the tender to supply Israel with Liquified Natural Gas (LNG).

They beat out Russia's Gazprom, one of the largest gas companies in the world, for the tender.

BP will deliver two large tankers to Israel Electric Corporation every month until May 2013. This is a short term solution to the decision Egypt made in April to break their natural gas deal with Israel.

LNG is shipped on tankers that normally carry 150,000 - 250,000 m cubed. After LNG is converted back to natural gas it becomes seven times its size. The gas is then converted to electricity.

There are only about 360 ships in the world that transport LNG. The ships are easily identifiable, they look like they have four large golf balls on top.

Israel cannot be dependent on Egypt or any Arab country for energy needs until they can tap their own newly found gas resources. This arrangement works for both Israel and for BP.

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