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Natural gas storage trading strategies

natural gas storage trading strategies

Midstream Those activities in the gas chain concerned with moving gas between the source and local distribution. Transmission Company The company responsible for operating a transportation system. The alternative location of a gas processing plant is close to the producing field. The purpose and use of storage has been closely linked to the regulatory environment of the time. Natural Gas Monthly include tabulations of base gas, total inventories, forex cargo tracking calgary total storage capacity, injections, and withdrawals at state and regional levels. Incorporating the aforementioned dynamics will prove beneficial as an overall assessment of the Natural Gas market. Common Carriage Common Carriage is a term often used interchangeably with Open Access and Third Party Access but which is in fact more specific. Thermie A term virtually identical to 1 Megacalorie but having 15C as its base, used primarily in Spain.

How to, trade, natural, gas : Top, trading

The name is derived from the Greek word petros (rock) and the Latin word oleum (oil). Sales gas usually consists mainly of methane and ethane and is odorised. Many salt formation and other high-deliverability sites, both existing and under development, have been initiated by independent storage service providers, often smaller, more focused companies started by entrepreneurs who recognized the potential profitability of these specialized facilities. City Gate The point at which a local distribution system, often based on one town or city, accepts gas from a transmission company or system. Periodically, underground storage facility operators may reclassify portions of working gas as base gas after evaluating the operation of their facilities. First, the geological characteristics of aquifer formations are not as thoroughly known, as with depleted reservoirs. A positive spread indicates that the price of the power is higher than that of the fuel, and the spread is profitable. Salt and fine clays can provide good seal. Flng has the advantage that LNG production and importation can start more quickly than could happen onshore, where lead times are often lengthened by the local approval process. Recovery factors of up to 90 of the gas in place can be achieved. Carbon Trading A systematic procedure for exchanging permits to produce carbon emissions. Capacity Charge A capacity charge is the payment made for reserving capacity in a pipeline, a gas store or other piece of infrastructure.

Natural gas is usually stored underground, in large storage reservoirs. The preferred value for expressing gas calorific quality in gas contracts. Ferc regulations allow interstate pipeline companies to reserve some portion of their storage capacity for this purpose. The most usual form of non-metric ton. Open Access A system offering all applicants access to specified infrastructure. Usually this takes the form of a long section natural gas storage trading strategies of pipe, inside which the pressure is allowed to drop by a controlled amount. Normally the Contractor will receive Cost Gas to cover its costs and, after other minor provisions, the remaining gas will be split with the host government in agreed proportions. Middle Distillate Synthesis (MDS) A chemical process using the Fischer-Tropsch synthesis method for making synthetic middle distillates (principally naphtha, kerosene and gas oil) from natural gas. EIA-191, Monthly Underground Gas Storage Report, collects data on total capacity, base gas, working gas, injections, and withdrawals, by reservoir and by storage facility, from all underground natural gas storage operators. Peak Shaving Peak shaving is a means of reducing the Peak Load on the gas transportation and supply system by supplying some gas from sources at or close to the point of ultimate consumption, thus improving the average Load Factor. In some tariff systems it is an important component of the tariff design, since it defines the capacity that is booked in the gas delivery system and must be paid whether or not used. Tcm Trillion (1012) cubic metres.

Probable Reserves One of several definitions of gas reserves. The area of the formation, the composition and porosity of the formation itself, and the existing formation pressure must all be discovered prior to development of the formation. Sometimes built where individual fields are not big enough to justify investment in separate pipelines and processing plant. See also Shippers, and Local Distribution Companies. In everything else M is correctly used to mean Million as in MWh. Typically, the turn-over rate for natural gas in these facilities is a year; natural gas is generally injected during the summer (non-heating season which usually runs from April through October, and withdrawn during the winter (heating season usually from November to March. Odorants Strong smelling chemicals injected into natural gas, which otherwise is odourless, in order to make its presence more easily detectable. In aquifer formations, cushion gas requirements can be as high as 80 percent of the total gas volume. Being familiar with Natural Gas trading hours can help to enhance a trading strategy. A half way house to the signing of a full contract. See also Futures, Swaps.

United States, natural, gas, storage

Fundamental and technical analysis are highly useful, as well as a good understanding of what affects Natural Gas prices such as weather, storage, supply and demand. However, depleted reservoirs, having already been filled with natural gas and hydrocarbons, do not require the injection of what will become physically unrecoverable gas; that gas already exists in the formation. The chief components are hydrogen (more than 50 methane (10 to 30) carbon monoxide and higher hydrocarbons. Gas Grid A gas grid or network is a connected set of pipelines for the transmission and distribution of gas in a region or country to industrial, commercial and domestic users. Town Gas Manufactured Gas piped to consumers from a gas plant. Autogeneration Autogeneration is the generation of electricity by an industrial concern primarily to meet the needs of its own operations See also Combined Heat and Power. It may be expressed as a discreet number or as a multiple of the Daily Contract Quantity. It must nevertheless take excess gas in subsequent years to make good its deficiency, before it is entitled to claim any Make Up Gas to which it is entitled through shortfalls greater than the Downward Quantity Tolerance. Provides a temporary or permanent counterweight to the economic power of the monopoly. MDS Middle Distillate Synthesis.

natural gas storage trading strategies

However, once created, a salt cavern offers an underground natural gas storage vessel with very high deliverability. See also Treatment, Dew Point. Peak Day The day in the year on which the demand for gas is highest. LDC Local Distribution Company. Also known as the Maximum Daily Quantity. Off-Peak The period during a day, week, month or year when the load being delivered by a gas system is not at its maximum volume. Pressure The force exerted by one body on another, measured as force over area.g. Sometimes abbreviated to nTPA. Reasonable expectation is usually taken to mean that a developer has taken the decision to build the necessary facilities and the development plan has been approved by the relevant authorities. Natural Gas is a highly popular commodity amongst day traders, whereby the physical commodity is not handled or delivered at expiry.

Natural, gas, storage, assets

Ethane Ethane (C2H6, often abbreviated to C2 in non technical usage) is one of the main constituent elements of natural gas along with methane. Specification The technical description of the allowable limits of the chemical composition of gas which may be admitted into a pipeline or process. Natural Gas prices move in a recurring pattern which can be seen as cyclical in its disposition. Gas holders are relics of the manufactured gas era and are steadily disappearing, their function being largely usurped by Line Pack. CHP Combined Heat and Power Churning Churning is a term used in gas trading to indicate the number of times on average that gas is traded between initial sale and ultimate consumption. On LNG tankers driven by steam turbines the gas is normally used as a fuel to drive the ships. Gas fields are usually underlain by an aquifer which often provides pressure known as Water Drive to assist gas production. Whilst certain fields may be envisaged in the contract, the seller will normally have the right to substitute other suitable gas if necessary. LHV Lower Heating Value See Net natural gas storage trading strategies Calorific Value. MMBtu Million British Thermal Units. Monthly balancing is only appropriate where third party loads are very small (a few percent) in relation to the main users loads.

Many traders also turn their attention to the major Natural Gas producers, such as BP, Royal Dutch Shell and the largest Natural Gas producer in the world Gazprom. Depleted gas reservoirs are the most common type of base load storage facility. Wheeling Physically redirecting gas from one pipeline system to another at a Hub as opposed to changing the title by swap arrangements. An MOI will often have a relatively brief validity, but in some cases they have served to govern active operations over a period of years. The walls of a salt cavern also have the structural strength of steel, which makes it very resilient against reservoir degradation over the life of the storage facility. By measuring the difference in travelling time between the two sets of measurements the gas flow rate can be measured to an accuracy of more than.5; Orifice plate meters, older, and less accurate than other meters. Dew Point The temperatures below which either hydrocarbons (hydrocarbon dew point) or water (water dew point) will start to condense out of a given gas stream. Lower Heating Value (LHV) Alternative name for Net Calorific Value. In the context of LNG, underground storage refers to normal LNG storage tanks which are, however, buried to provide greater safety in the event of leakages. Using the Relative Strength Index (RSI we notice a situation of positive divergence which is evident on the chart between September and October. Mostly these are very large scale plants built for projects transporting gas by sea, but in many countries small LNG plants have been built to liquefy gas during the seasons of low demand to provide Peak Shaving when required. See Production Sharing Agreement.

Distinguish from Standing Charge and Demand Charge. Wells have various descriptions depending on the stage of the production process at which they are drilled. The most common multiple is one million Btu, normally abbreviated to MMBtu and.S. Where, for example, there are several buyers in one contract, a joint responsibility does natural gas storage trading strategies not mean an equal or pro rata responsibility. Relevant in the LNG business. Federal Energy Regulatory Commission (ferc) A US federal government agency whose responsibilities include regulating the interstate gas industry.

How to trade natural gas, gas trading strategies

Usually less than 1 to reflect that not all customers are expected to take their maximum demands simultaneously. Not to be confused with Liquefied Petroleum Gas. Working gas is the volume of natural gas in the storage reservoir that can be extracted during the normal operation of the storage facility. Today, in addition to the interstate storage sites, many storage facilities owned/operated by large LDCs, intrastate pipelines, and independent operators also operate on an open-access basis, especially those sites affiliated with natural gas market centers. W Watt - The basic unit of electrical power, defined as one joule per second. Base gas (or cushion gas) is the volume of natural gas intended as permanent inventory in a storage reservoir to maintain adequate pressure and deliverability rates throughout the withdrawal season. Two important characteristics of an underground storage reservoir are its capacity to hold natural gas for future use and the rate at which gas inventory can be withdrawncalled its its deliverability rate (see.

Also referred to as the deliverability rate, withdrawal rate, or withdrawal capacity, deliverability is usually expressed in terms of million cubic feet per day (MMcf/d). Note however that cm is also the official abbreviation for centimetre. Because it is often more economic to transport Rich Gas a straddle plant is required to process the plant to final sales specification. Thus in a cold year seasonal normal demand will be lower than actual demand and vice versa. See Seasonal Normal and Weather Correction. Historically, when natural gas was a regulated commodity, storage was part of the bundled product sold by the pipelines to distribution utilities. One GigaJoule is approximately equal.478 MMBtu. Chiefly relevant to distribution systems. Its aim is therefore much more related towards Transparency and eliminating the potential for anti-competitive cross subsidisation activities. Take or Pay Take or Pay (TOP) is a common provision in gas contracts under which, if the Buyers annual purchased volume is less than the Annual Contract Quantity minus any shortfall in the Sellers deliveries, minus any Downward. A pressure group of European energy trading companies dedicated to stimulating and promoting energy trading. Send-Out The quantity of gas delivered by a plant or system during a specified period of time. In some areas, most notably the Midwestern United States, natural aquifers have been converted to natural gas storage reservoirs.

Natural, gas : Learn How

Depleted Gas Reservoirs, the first instance of natural gas successfully being stored underground occurred in Weland County, Ontario, Canada, in 1915. This is usually achieved by swap arrangements rather than by physical movements. Bbl A US barrel, 1 barrel.159 cubic metres.S. A feedstock for ethylene production. Natural gas storage plays a vital role in maintaining the reliability of supply needed to meet the demands of consumers. It also enables the processes to move location to satisfy short term demand. For a summary of natural gas storage facilities by state, click here to see the EIAs storage statistics. Smaller pipelines may use diesel engines. As the volume of gas inside the storage facility drops, pressure (and thus deliverability) in the storage facility also decreases. Often used interchangeably with Demand Charge. Some impurities, such as sulphur or helium, can be recovered economically as by-products if in sufficient concentration in the gas. While natural gas being stored in aquifers has already undergone all of its processing, upon extraction from a water bearing aquifer formation the gas typically requires further dehydration prior to transportation, which requires specialized equipment near the wellhead. A reflection seismic survey may be either 2D, in which the reflections are recorded along a line or 3D, in which the lines are very closely spaced to deliver a three dimensional view of the subsurface.

Trade, it

Flow Meter A type of Meter used to measure gas flows. Trend lines are used to identify and endorse a direction which can be achieved by joining higher highs (uptrend) or lower lows (downtrend). Unitisation Agreement When a gas field extends over two or more production licences or leases with different ownership, most countries require that the field owners unitise their holdings.e. KW KiloWatt One thousand Watts. Nymex New York Mercantile Exchange. Kyoto Japanese city which was the location for an international agreement on the need to reduce the level of emissions of greenhouse gases into the Earths atmosphere. To learn more about LNG, click here.

In addition, the capacity of the reservoir is natural gas storage trading strategies unknown, and may only be determined once the formation is further developed. International Energy Agency A Paris-based organisation which co-ordinates the energy policies of its member countries. However well insulated LNG storage tanks may be, the LNG is always at its boiling point, and small quantities will continue to boil off. Gas Lift Injection of gas into an oil reservoir in order to mix gas with oil, reduce the fluid density and so assist oil flow. Ethylene Also known as Ethene. Underground Natural Gas Storage Data, the.S.

Conventionally the term Well is restricted to a borehole that can produce oil or gas. See also Middle Distillate Synthesis. Liberalisation is the process of freeing a market from what are perceived as undue monopolistic forces, to achieve which a high degree of regulation may be required, at least in early years. It does not mean free of water, though in some cases it may. See also Make Up Gas. Salt beds are shallower, thinner formations. Natural gas is also stored in liquid or gaseous form in aboveground tanks. The proportion of profit gas is adjusted depending on local practice. There may also be substances introduced into the well as a result of drilling operations, such as inhibitors, mud etc. Swaps (1) Arrangements under which gas destined for a market is delivered elsewhere, and substitute gas is supplied to the final market. Gas:Oil Ratio : The gas:oil ratio is the relationship between the volume of gas produced at atmospheric pressure and the volume of oil produced in a given field.