Israel Chemicals has signed a deal with the Yam Thetis consortium to buy 2 billion cubic meters of natural gas until 2015. And apparently being green can be profitable as well, because the company estimates that the switch will ultimately save them $100 million a year.
Israel Chemicals, which manufactures fertilizers and specialty chemicals, bears the distinction (according to them) of being the first large industrial company in Israel to switch most of its chemical plants to natural gas.
Big companies cutting back on fossil fuels and profiting in the process? It sounds almost too good to be true–here’s hoping that there isn’t a catch.
Source: Reuters
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The power plant at Reading uses natural gas, and with the new discovery off the coast of Israel, much more natural gas will power Israel into the future.
i’ve always wondered why israel still uses electric to heat the water instead of natural gas – i was told that israel had very low amounts. has anyone heard of plans to switch? are the new development’s using natural gas? is it not cost effective to install?