An apparatus and method are provided for continuously monitoring the operation of electrical equipment and preventing critical operational failures. The invention quantitatively determines the concentrations of gas and/or vapor (including water) components in an insulating fluid on a real time basis. An increase of one or more detected chemical components signifies an actual or potential electrical problem with the equipment. The preferred apparatus consists of a gas extractor, an infrared gas analysis instrument, and a gas diaphragm pump. Gas and water vapor components are extracted from the insulating fluid by permeating through a membrane in a gas extractor. The gas and/or vapor components are then brought into an infrared gas analyzer by the gas diaphragm pump. A quad detector in the analysis instrument identifies and determines the concentration of three specified gases and/or the vapor simultaneously.

 
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