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Natural Gas


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2010-11-09 Energy stocks jump after Chevron deal

Wikipedia - Natural Gas




Ex-Enron Trader Built Giant Caverns To Hoard Natural Gas "In trademark fashion, Arnold is staying behind the scenes and working on how to profit from the next disaster."




Measuring Metric

Quantities of natural gas are measured in normal cubic meters (corresponding to 0 °C at 101.325 kPa)

The gross heat of combustion of one cubic meter of commercial quality natural gas is around 39 megajoules (≈10.8 kWh), but this can vary by several percent. This comes to about 49 megajoules (≈13.5 kWh) for one kg of natural gas (assuming 0.8 kg/m^3, an approximate value).

Measuring Imperial

Quantities of natural gas are measured in standard cubic feet (corresponding to 60 °F (16 °C) and 14.73 psia).

The typical caloric value of natural gas is roughly 1,000 British thermal units (BTU) per cubic foot, depending on gas composition.

In US units, one standard cubic foot of natural gas produces around 1,028 British thermal units (BTU). The actual heating value when the water formed does not condense is the net heat of combustion and can be as much as 10% less.

In the United States, retail sales are often in units of therms (th); 1 therm = 100,000 BTU. Gas meters measure the volume of gas used, and this is converted to therms by multiplying the volume by the energy content of the gas used during that period, which varies slightly over time. Wholesale transactions are generally done in decatherms (Dth), or in thousand decatherms (MDth), or in million decatherms (MMDth). A million decatherms is roughly a billion cubic feet of natural gas.

Trade

The price of natural gas varies greatly depending on location and type of consumer. In 2007, a price of $7 per 1,000 cubic feet (28 m3) was typical in the United States. The typical caloric value of natural gas is roughly 1,000 British thermal units (BTU) per cubic foot, depending on gas composition. This corresponds to around $7 per million BTU, or around $7 per gigajoule. In April 2008, the wholesale price was $10 per 1,000 cubic feet (28 m3) ($10/MMBTU).[39] The residential price varies from 50% to 300% more than the wholesale price. At the end of 2007, this was $12–$16 per 1,000 cu ft (28 m3).[40]


Natural gas in the United States is traded as a futures contract on the New York Mercantile Exchange. Each contract is for 10,000 MMBTU (~10,550 gigajoules), or 10 billion BTU. Thus, if the price of gas is $10 per million BTUs on the NYMEX, the contract is worth $100,000.
[edit] United Kingdom

Natural gas is also traded as a commodity in Europe, principally at the United Kingdom NBP and related European hubs, such as the TTF in the Netherlands.
[edit] European Union

As one of the world's largest importers of natural gas, the EU is a major player on the international gas market. With Norway being one of the world's largest suppliers of natural gas as part of the extended European Economic Area, most discussions can be conducted within the EU. The main supplier is then expected to be the current number two: the Russian Federation.

Gas prices for end users vary greatly across the EU.[41] A single European energy market, one of the key objectives of the European Union, should level the prices of gas in all EU member states.
[edit] United States

As of 2009, the Potential Gas Committee estimated that the United States has total future recoverable natural gas resources approximately 100 times greater than current annual consumption.[43]
[edit] Nepal

In Nepal, natural gas is largely imported from India.Natural gas here is very limited and what is, is yet to be extracted
[edit] Elsewhere

In the rest of the world, LNG (liquified natural gas) and LPG (liquified petroleum gas) is traded in metric tons or mmBTU as spot deliveries. Long term contracts are signed in metric tons. The LNG and LPG is transported by specialized transport ships, as the gas is liquified at cryogenic temperatures. The specification of each LNG/LPG cargo will usually contain the energy content, but this information is in general not available to the public.


Google "Natural Gas News and Analysis for Investment and Trading"

Oil


The barrel of oil equivalent

 (BOE) is a unit of energy based on the approximate energy released by burning one barrel (42 US gallons or 158.9873 litres) of crude oil. The US Internal Revenue Service defines it as equal to 5.8 × 106 BTU.[1] The value is necessarily approximate as various grades of oil have slightly different heating values.

5.8 × 106 BTU59 °F equals 6.1178632 × 109 J, about 6.1 GJ (HHV), or 1.7 MWh.

If one considers the lower heating value instead of the higher heating value, the value for one BOE would be approximately 5.7 GJ (see Ton of oil equivalent).

One BOE is roughly equivalent to 5,800 cubic feet of natural gas or 58 CCF. The USGS gives a figure of 6,000 cubic feet (170 cubic meters) of typical natural gas.[2]

A commonly used multiple of the BOE is the kilo barrel of oil equivalent (kboe or kBOE), which is 1,000 times larger.

Other common multiples are the BBOe, (also BBOE), or billion barrel of oil equivalent, representing 109 barrels of oil, used to measure petroleum reserves,[3] and million barrels per day, MMbd (or MMBD), used to measure daily production and consumption.[4] Also used is the Mtoe, or Millions of tonnes of oil equivalent, a metric measurement equivalent to approximately 0.006841 BBOE.[5]

The BOE is used by oil and gas companies in their financial statements as a way of combining oil and natural gas reserves and production into a single measure.



(c) The information under this section is originally from Wikipedia and is used under the following licence http://creativecommons.org/licenses/by-sa/3.0/









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