05.07.2009
The reduction in volume of natural gas due to the removal of natural gas liquid constituents such as ethane, propane, and butane at natural gas processing plants
The process of drilling for and bringing petroleum from its underground reservoirs to the surface
Occur when the activity of one person has an inadvertent impact on the well-being of another person. Many aspects of environmental degradation, such as air pollution, global warming, loss of wilderness and contamination of water bodies, are viewed as externalities of economic transactions.
By externality we mean a change in economic value due to certain actions that take place on a level that the parties that are involved in are not evaluating it
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Price of the gas as it leaves the terminal, namely prior to it entering into the transmission system. When comparing energy prices it is important to understand at which point in the gas chain the energy/gas is being priced