Subscribe to our free daily newsletters
  Oil and Gas News from OilGasDaily.Com  

Subscribe to our free daily newsletters

PZ Projects launches novel platform for registering natural gas trades
by Staff Writers
Tel Aviv, Israel (SPX) Aug 21, 2017

illustration only

Israel's P.Z. Projects is launching a novel software platform that enables the registering of transactions between companies that are active in the global natural gas sector. Developed over a two-year period, the platform has been successfully tested by several leading local players who are active in the gas market.

The platform allows players in the gas sector, including both consumers and gas marketing companies, to list their proposals for buying or selling of natural gas, to establish direct contact with potential partners and fully document the trade within the system after negotiations are conducted by the parties outside of the platform.

A gas consumer interested in selling surplus gas by using the platform lists the volume available for sale, the asking price and the time at which the gas will be available for delivery. The process greatly simplifies the buying and selling of surplus gas.

The platform's business model is based on the sale annual licenses of the software program. Beyond the initial development of the program for the customer, P.Z. Projects may also customize the program in accordance with the needs of the customer as part of maintenance and upgrading agreements.

The development of the platform is the result of the economic and business environment that has emerged in Israel over the past decade following the discovery of huge offshore gas reserves in the Eastern Mediterranean. These discoveries have led to the need for technologies and services that have been specifically adapted for the use of gas in an industrial environment.

On the global scale, demand for gas is the fastest growing form of energy in terms of both consumption and production. According to estimates by energy experts, if the current trend continues, natural gas will be the leading source of energy in the world by 2050.

P.Z. Projects CEO Carmi Zinger, who led the development of the new platform, says "up to now transactions in the natural gas market were conducted and registered through a manual and unofficial process based on personal contacts over the phone, using email and numerous pages of Excel documents. This form of trading typically permitted only two-sided trading between two parties."

Zinger adds that the platform developed by P.Z. Projects is not only limited to improving the efficiency of the trading process but also impact the overall market, by creating operational flexibility for all players in the sector. He noted that from a purely market perspective, the expected penetration of the platform into the gas sector will enable each and every buyer and seller to be exposed to a large number of potential trading partners and therefore obtain the best deal from a price, quantity and availability perspective.

As Zinger sees it "this will open the door to a much freer, more competitive and sophisticated market in the gas sector."

From a purely economic standpoint, he adds that players in the sector will gain a new stream of revenue through the sale of gas to new customers and will avert losses from the need to store surplus gas.

In addition, Zinger notes that from an operational flexibility point of view large quantities of gas can be transferred from one customer to another without the direct involvement of the original supplier. As a result he believes the P.Z. Projects' platform will upgrade the actual trading process in the gas sector and will lead to a sharp increase in the volume and number of transactions.

Permian basin production could accelerate
Washington (UPI) Aug 18, 2017
The expansion of a Texas oil pipeline is likely to support more production from the prolific Permian shale basin, the Federal Reserve Bank of Dallas said. Texas is the No. 1 oil producer in the United States and home to the Permian and Eagle Ford shale reservoirs, some of the more robust basins in the Lower 48. The latest monthly figures from the Federal Reserve Bank of Dallas show Perm ... read more

Related Links
PZ Projects
All About Oil and Gas News at

Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.

SpaceDaily Contributor
$5 Billed Once

credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly

paypal only

Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks DiggDigg RedditReddit GoogleGoogle

Potato waste processing may be the road to enhanced food waste conversion

Mexico's prickly pear cactus: energy source of the future?

Additive selectively converts CO2 to multicarbon fuels

New light-activated catalyst grabs CO2 to make ingredients for fuel

Floating solar power: new frontier for green-leaning water utilities

Work begins in carbon-free site in Dubai

ABB wins $30 million order to support integration of renewables in Germany

Solar glasses generate solar power

Night vision for bird- and bat-friendly offshore wind power

Wind energy blows up storm of controversy in Mexico

Norway's Statoil reshapes hold of giant wind farm off the British coast

Vertical axis wind turbines can offer cheaper electricity for urban and suburban areas

Analysis highlights failings in US's advanced nuclear program

Clashes at anti-nuclear demo in France

RWE optimistic for 2017, boosted by nuclear tax refund

The Roadmap for Increased Safety and Viability of Nuclear Power Plants

Heat map showcases extreme temperatures in Southern Europe

UNEP chief urges China to do more on climate

Warm periods in the 20th century are not unprecedented during the last 2,000 years

Can poor air quality mask global warming's effects

Fiat joins BMW-led group to develop driverless cars

Uber's ousted CEO calls investor lawsuit unfounded

Uber bows to Philippines suspension after show of defiance

Uber settles complaint over data protection for riders, drivers

Iran general slams Iraq referendum plan during Erdogan talks

Iraq readies to retake another IS bastion: officials

Canada to contribute policing to liberated Iraq city

Conviction, sentences upended in Blackwater case

Trump keeps Iran deal, but threatens more sanctions

S. Korea seeks rare talks with North to ease military tensions

US sending mixed messages on Iran nuclear deal: Zarif

US-China citizen gets 10 years for spying in Iran; 2 Iranians charged in US over hacking

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement