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Price per million BTU of oil and natural gas in the US, 1998-2015. Natural gas prices, as with other commodity prices, are mainly driven by supply and demand fundamentals. However, natural gas prices may also be linked to the price of crude oil and petroleum products, especially in continental Europe.
The average LNG price for January delivery into northeast Asia was estimated at around $7.40 per million British thermal units (mmBtu), up $1.00 from the previous week, industry sources said.
Spot prices for July delivery to Northeast Asia are estimated to be $4.30 to $4.40 per million British thermal units (mmBtu), up from $4.25 last week, the sources said.
The unit Mbtu is used in natural gas and other industries to indicate 1,000 Btu. [12] [13] However, there is an ambiguity in that the metric system (SI) uses the prefix "M" to indicate 'Mega-', one million (1,000,000). Even so, "MMbtu" is often used to indicate one million Btu particularly in the oil and gas industry. [14]
The first oceangoing liquified natural gas tanker in the world was Methane Pioneer, which entered service in 1959 with a carrying capacity of 5,500 cubic metres (190,000 cu ft). [1] LNG carriers of increasing size have been built since then, leading to the fleet of today, where giant Q-Max LNG ships sail worldwide that can each carry up to ...
WASHINGTON (Reuters) -U.S. President Joe Biden on Friday paused approvals for pending and future applications to export liquefied natural gas (LNG)from new projects, a move cheered by climate ...
One GGE of natural gas is 126.67 cubic feet (3.587 m 3) at standard conditions. This volume of natural gas has the same energy content as one US gallon of gasoline (based on lower heating values : 900 BTU/cu ft (9.3 kWh/m 3 ) of natural gas and 114,000 BTU/US gal (8.8 kWh/L) for gasoline).
January gas supplied by Russia to Europe was 1.7b m3 compared with 13b m3 average per month for the 2021 year. [32] The price of natural gas in Europe fell to an 18-month low in mid February of €49pmh with gas storage across the European Union at 65% capacity, well above the average of 45% at this time of year. [33]