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Mastering the Commodities Markets by Francesca Taylor

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Gas Measurements

Natural gas can be measured in a range of different ways. As a gas, it can be measured in cubic feet or cubic metres. This is the volume it takes up at normal temperatures and pressures. Gas production and distribution companies commonly measure natural gas in thousands of cubic feet (Mcf), millions of cubic feet (MMcf) or trillions of cubic feet (Tcf). Natural gas may also be measured as a source of energy. Similar to other forms of energy, natural gas is commonly measured and expressed in British thermal units (Btu). One Btu is the amount of natural gas needed to produce enough energy to heat one pound of water by one degree at normal pressure. When natural gas is delivered to a house, it is measured by the gas utility in ‘therms’ ...

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