LNG Glossary Flashcards
End-user
customer that purchases energy for consumption and not for resale.
Also called Ultimate customer
USAC
tanker market term for US Atlantic Coast.
USG
tanker market term for United States Gulf, more properly known as the Gulf of Mexico
Utilization factor
a ratio of the maximum demand of a system or part of a system to its rated capacity
Tonne, metric
a metric tonne equals 1,000 kilograms or 2,204.6 pounds
Tonnage
shipping term referring to the total number of tons registered or carried or the ship’s carrying capacity
Ton, Short (ST)
a short ton is 2,000 pounds
Ton, Long (LT)
a long ton is 2,240 pounds. Typically used as the unit measure for sulfur sales.
Ton mile
measurement used in the economics of transportation to designate one ton being moved one mile; useful to the shipper because it includes the distance to move a commodity in the calculation.
Time charter
form of charter party issued when an LNG vessel is chartered for an agreed period of time
Take-or-Pay (TOP) clause
contract clause in a Sales and Purchase Agreement (SPA) requiring a minimum quantity of natural gas to be paid for, whether or not delivery is accepted by the purchaser.
Tail gas
the exhaust gas from any processing unit that is at a low pressure and is usually vented, treated for contaminant removal or combusted.
TAPS
Trans-Alaska Pipeline System, the line from Prudhoe Bay on the North Slope to the terminal port of Valdez on the south coast of Alaska
Tcf (trillion cubic feet)
volume measurement of natural gas approximately equivalent to one QUAD
Therm
a unit of heating value equal to 100,000 Btus, in common use in the UK; about 56 therms are derived by setting fire to a barrel of crude oil; one therm has approximately the same heat content as 100 cubic feet of natural gas
Throughput (pipeline)
the volume of gas flowing (or transported) through a pipeline
Tariff gas
additional natural gas sold to a customer if the total amount of natural gas needed exceeds their original estimate
Throughput (processing)
average amount of raw material
Sweet gas
natural gas which contains such small amounts of hydrogen sulfide (and other sulfur compounds) and carbon dioxide that it can be transported or used without purifying, with no deleterious effect on piping and equipment
Swing gas
natural gas bought on short notice to meet unexpected daily demands not covered under long-term contracts.
Synthetic natural gas (SNG)
methane obtained from sources
other than naturally occurring reservoirs of natural gas, such as by heating coal, refining heavier hydrocarbons, or processing garbage or other organic materials. Gases other than natural gas or liquid or solid hydrocarbons converted to
a gaseous fuel of heat content, compatibility and quality equivalent in performance to that of natural gas.
System capacity
the physical limitation of a gas pipeline or gas storage system to flow gas to end-users. Also called “normal system capacity”.
System supply
natural gas supplies purchased, owned, and sold by the supplier.
Sales and Purchase Agreement (SPA)
definitive contract between a seller and buyer for the sale and purchase of a quantity of natural gas or LNG for delivery during a specified period at a specified price
