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Noble wants to pipe gas for domestic use

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14-12-2013

Noble wants to pipe gas for domestic use

Noble Energy, operators of the Block 12 offshore license, has reportedly renewed a proposal for piping gas from the Aphrodite well for the purpose of domestic electricity generation.

The Houston-based energy company has quoted a delivery price of $9 or $10 per million btus (mmbtu). The cost of electricity generation on the island– and thus the price of electricity to end-consumers – could on paper drop by 15 to 20 per cent if Noble’s proposal were implemented.

Noble envisages extracting the gas with a spar platform, the ‘Red Hawk’, which is currently located in the deepwater Gulf of Mexico. The gas would be brought ashore via a subsea pipeline, to be built by Noble, and burned to generate electricity for domestic consumption.

Advanced negotiations are said to be underway between the energy ministry and Noble. The proposal has a tight window, because the ‘Red Hawk’ platform is set to be decommissioned in January of 2014.
 

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