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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 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.
As of 2023 there are no national strategic natural gas reserve facilities in the United States. A 2007 study found that as of May 2004, there was roughly 8 trillion cubic feet (Tcf) of commercial gas storage capacity in the US, with about 4 Tcf needed to alwa
Two main issues which were discussed at the summit, were natural gas prices and a common approach to the natural gas market. [28] It was agreed on the summit that the price of gas used to generate electricity is too low and the gap between prices for gas and crude oil need to be narrowed. The linking of gas prices to the oil price was
North American natural gas production indeed peaked in 2001 at 27.5 × 10 ^ 12 cu ft (780 km 3) per year, and declined to 26.1 × 10 ^ 12 cu ft (740 km 3) by 2005, but then rose again in 2006 and 2007 to a new high of 27.9 × 10 ^ 12 cu ft (790 km 3)in 2007 [36] This would make the 2007 figure 1.45% higher than the 2001 figure, for an average ...
The energy content (high or low heating value) of a volume of natural gas varies with the composition of the natural gas, which means there is no universal conversion factor for energy to volume. 1 cubic foot (28 litres) of average natural gas yields ≈ 1,030 Btu (between 1,010 Btu and 1,070 Btu, depending on quality, when burned)
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 ...
According to the standard defined by the International Energy Agency, it corresponds in average to 38.2 petajoules (1.06 × 10 10 kWh) of energy in the case of Russian natural gas and 41.4 petajoules (1.15 × 10 10 kWh) of energy in the case of Qatar's natural gas. [1]