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Depending on the marketplace, the price of natural gas is often expressed in currency units per volume or currency units per energy content. For example, US dollars or other currency per million British thermal units, thousand cubic feet, or 1,000 cubic meters. Note that, for natural gas price comparisons$, per million Btu multiplied by 1.025 ...
Gas prices within the last 10 years highlight how volatile the market can be. When looking at historical data, gas prices were the same in 2011 as they were in 2023 — $3.52 per gallon.
AMFA specifies the energy content of 100 cubic feet of natural gas to be equal to 0.823 gallons-equivalent of natural gas, and the gallon equivalency of natural gas is considered to have a fuel content, similar to that for alcohol fuels, equal to 0.15 gallons of fuel.
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). [22]
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The United States Geological Survey gives a figure of 6,000 cubic feet (170 cubic metres) of typical natural gas. [ 2 ] Due to the risk of confusion The Society of Petroleum Engineers recommends in their style guide that abbreviations or prefixes M or MM are not used for barrels of oil or barrel of oil equivalent, but rather that thousands ...
A related measure is "mega standard cubic metres per day" (MSm 3 /d), which is equal to 10 6 Sm 3 /d used in many countries outside the United States. [1] One MMSCFD equals 1177.6 Sm 3 /h. When converting to mass flowrate, the density of the gas should be used at Standard temperature and pressure.
The plant would have a production capacity of 80,000 to 90,000 barrels (14,000 m 3) per day, and would use about 640 million to 720 million cubic feet (20,000,000 m 3) of natural gas per day as feedstock. The project is expected to cost between $1.6 billion and $1.8 billion to construct. (OD)