05.07.2009
STP is commonly used to define standard conditions for temperature and pressure such as for gases which is defined by as air at 0oC (273.15 K, 32oF) and 1 atm
On June 10th 1870 the Standard Oil Company was formed as a partnership led by John D. Rockefeller and soon became involved in all aspects of the oil business (producing, transporting, refining, and marketing). The company was split in 1911 by the United States Supreme Court in order to decrease its monopolistic power
The calorific value of a fuel is the quantity of heat produced by its combustion – at constant pressure and under a conditions known as “normal” temperature and pressure (i.e. 0oC and under a pressure of 1,013 mbar). The combustion of a fuel product generates water vapor. The Lower Calorific Value supposes that the products of combustion contains the water vapor. The heat contained in the water vapor is not recovered. The Higher Calorific Value (or Gross Calorific Value – GCV) supposes that the water of combustion is entirely condensed and that the heat contained in the water vapor is recovered.
A bundled service offered by a LSO consisting, at least, of a right to berth an LNG carrier during a certain window of time, the right to unload the LNG, a temporal LNG storage capacity, and a regasification service with the corresponding send-out capacity
Transactions that are for less than one year. 10-12% of world LNG is traded on spot deals. The leading LNG spot exporters are Trinidad, Algeria, Oman and Qatar where spot LNG deals are seen as a complement to their long term trading and reduces the risk of starting a liquefaction plant without a gas sales and purchasing agreement covering the entire plant capacity. On the import side, the US has been the main driver for imports of spot LNG where LNG has mostly been based on short term transactions. Also on the demand side of the equation LNG spot helps to fill the gap between gas contracted for on a long term basis and actual demand of a given market. In so far as terminals are concerned this is often restricted by scheduling, storage and downstream pipeline constraints. A secondary source of spot LNG is what is known as re-direction of cargoes. . From the logistic point of view, the development of a spot LNG market requires surplus capacity of shipping and receiving terminals