05.07.2009

Natural gas can be measured in a number of different ways. As a gas, it can be measured by the volume it takes up at normal temperatures and pressures, commonly expressed in cubic feet. Other commonly used measures for natural gas are thousands of cubic feet (Mcf), millions of cubic feet (MMcf), or trillions of cubic feet (Tcf), as well as in billion cubic meters (bcm). 1 bcm of natural gas is equal to 36 trillion British Thermal Units, to 36 million mmbtu, is equal to 35.3 billion cubic feet, is equal to 17.23 thousand barrels of oil equivalent per day, is equal to 96.7 million standard cubic feet per day, is equal to 0.9 million tons of oil equivalent. While measuring by volume is useful, natural gas can also be measured as a source of energy. Like other forms of energy, natural gas is commonly measured and expressed in British thermal units (Btu). One Btu is the amount of natural gas that will produce enough energy to heat one pound of water by one degree at normal pressure. To give an idea, one cubic foot of natural gas contains about 1,027 Btus.

Five groups participated in the tender to update the Israeli natural gas master plan. The UK Advantica company won the tender in December 2008. The tender is to update the masterplan that was first written in 1999 and updated in 2003. The plan is to inter alia include implementation of the government’s decision regarding construction of an eastern section of the natural gas pipeline from Gezer to Hagit, the penetration of new consumers into the market, the requirements of all the power stations for natural gas and the future construction of an LNG regasification facility in Israel. The new masterplan is to cover the period up to 2020

This phrase signifies that high gas prices always leads to more production which swings the price back and vice versa so that prices often swing back and forth like a pendulum over a number of years. Higher output alone does not explain the price drop, but rather the combination with the economic downturn that explains the plunge

The ratio of natural gas liquids to gas (in barrels/million cubic feet) in an oil field, calculated using measured natural gas liquids and gas volumes at stated conditions.

Natural gas liquids are those portions of natural gas which are recovered as liquids in separators, field facilities or gas processing plants and include, but are not limited to ethane, propane, butanes, pentanes, LPG, condensates.

A barrel of crude oil is worth 1.4 barrels of NGLs as natural gas liquids have lower energy content than oil

The amount of thermal energy released by the complete combustion of one standard cubic foot of natural gas.

Natural gas is one of the most popular fuels for residential heating. Slightly more than 50 percent of homes in the US use natural gas as their main heating fuel.

In the 1980s the world’s annual natural gas consumption was 42.5 bcm. In 2008 global natural gas consumption stood at 85 bcm. Reserves also took a similar path. In 1988 reserves were 110 tcm and by 2008 reserves stood at 185 tcm