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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]
Natural gas is a mixture of gases containing approximately 80% methane (CH 4) and its heating value varies from about or 10.1 to 11.4 kilowatt-hours per cubic metre (975 to 1,100 Btu/cu ft), depending on the mix of different gases in the gas stream.
The price of natural gas varies greatly depending on location and type of consumer. The typical caloric value of natural gas is roughly 1,000 BTU per cubic foot, depending on gas composition. Natural gas in the United States is traded as a futures contract on the New York Mercantile Exchange. Each contract is for 10,000 million BTU or 10 ...
The heating value depends on the source of gas that is used and the process that is used to liquefy the gas. The range of heating value can span ±10 to 15 percent. A typical value of the higher heating value of LNG is approximately 50 MJ/kg or 21,500 BTU/lb. [2] A typical value of the lower heating value of LNG is 45 MJ/kg or 19,350 BTU/lb.
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).
Price per million BTU of oil and natural gas in the US, 1998-2015 Natural gas prices spiked to $23.86 on February 17, 2021 because of the Texas power crisis. [14] In February 2003 there was a similar spike in natural gas prices because of shortages. [15]
Yet other definitions are in use for industrial gas, [5] where, in the US, a standard cubic foot for industrial gas use is defined at 70 °F (21.1 °C) and 14.696 psia (101.325 kPa), while in Canada, a standard cubic meter for industrial gas use is defined at 15 °C (59 °F) and 101.325 kPa (14.696 psia).
In this context it is usually known as natural gas, which is considered to have an energy content of 39 megajoules per cubic meter, or 1,000 BTU per standard cubic foot. Liquefied natural gas (LNG) is predominantly methane (CH 4) converted into liquid form for ease of storage or transport.
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