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The standardized NYMEX natural gas futures contract is for delivery of 10,000 million Btu of energy (approximately 10,000,000 cu ft or 280,000 m 3 of gas) at Henry Hub in Louisiana over a given delivery month consisting of a varying number of days. As a coarse approximation, 1000 cu ft of natural gas ≈ 1 million Btu ≈ 1 GJ.
Monthly average natural gas prices, showing the location of the Henry Hub. The Henry Hub is a distribution hub on the natural gas pipeline system in Erath, Louisiana, owned by Sabine Pipe Line LLC, a subsidiary of EnLink Midstream Partners LP who purchased the asset from Chevron Corporation in 2014. [1]
Physical short-term gas and gas futures contracts are also traded and handled by the ICE-Endex Exchange (Amsterdam [2]) and via the PEGAS exchange. Gas at TTF trades in euros per megawatt hour . In the two decades since its inception trades at the TTF have grown exponentially and exceeded domestic volumes in the Netherlands fourteen-fold.
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]
[1] [2] On July 1, 2014, the index was rebranded under its current name. [3] [4] The BCOM tracks prices of futures contracts on physical commodities on the commodity markets. The index is designed to minimize concentration in any one commodity or sector. It currently has 23 commodity futures in six sectors.
In a futures contract where the underlying is a physical object, such as grain or oil, the price of the futures contract is quoted assuming delivery of that physical object to a specific physical location in the world. [1] For instance, natural gas futures in the United States usually have the Henry Hub as a delivery point, [2] and gold may ...
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Natural gas production 1973-2022 U.S. natural gas monthly production, imports, and exports Discovered shale gas deposits as of June 2016 Natural gas production by State Natural gas was the United States ' largest source of energy production in 2016, representing 33 percent of all energy produced in the country. [ 1 ]