The Natural Gas Case Introduction * This case is about the negotiation of buying a gas between two parties involved – the plaintiff a German company and the defendant an Austrian partnership. On the 18th of December 1990 the plaintiff faxed the defendant with an offer to buy 700-800 metric tons. Meanwhile Austria responded that the ship will be from US for delivery to Belgium and the price is $376 per tone. Additionally a letter of credit was required‚ since both of the parties haven’t seen
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• Natural gas is an odorless‚ colorless‚ flammable gas. It is non-toxic and lighter than air. • The gas chiefly consists of methane (CH4)‚ but also contains other hydrocarbons such as ethane‚ butane‚ propane and naphtha. Oil and gas deposits in the North Sea were formed millions of years ago through the decomposition and transformation of organic matter (plant and animal remains). In its primary form‚ natural gas can be used for residential heating and cooking‚ for industrial purposes
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Arbitrage in LIQUIFIED Natural Gas December 2012 Take a look at the long-term charts of crude oil and natural gas. The historical oil-to-gas price ratios have ranged from 6:1 to 10:1 before the economic crisis. Since one barrel of oil contains the energy equivalent of the 5.825 million BTU of natural gas‚ an implied BTU arbitrage kept this relationship in check. Spot natural gas traded as low 1.905 earlier in the week implying an energy equivalent price of a barrel
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Patrick Meehan Jeb Waldschmidt ENGL 102-05 3-26-05 Natural Gas and the Future of Energy Until recently natural gas was considered the dirty brother of oil. Natural gas was often stranded and left undeveloped‚ often wasting it. Oftentimes natural gas was considered unusable ’ and worthless ’ compared to oil. But now that the oil is running out a new light is being shown on natural gas. Today natural gas is very much in favor as a clean fossil fuel‚ especially for
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| Natural Gas | | | | | | | Table of Contents Introduction 3 Principal Factors Influencing Demand 3 Residential and Commercial Heating 3 Price and Fuel Switching 3 Industrial Advancements 3 Growing Environmental Concern 4 Recent Natural Disasters 4 Growing Global Demand 4 Principal Factors Influencing Supply 5 Technology 6 Infrastructure 6 Unconventional Sources 7 Availability 7 About the Industry 8 Natural Gas Price Trends 9 The Future of Natural
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Major Natural gas producers Graph.2 Gas Exporting Countries Forum (GECF) Natural gas Demand & Price Natural gas could be the 100% replacement of crude oil’ Conclusion 1. Introduction Natural gas is a very important energy source in the world and it is the cleanest and most hydrogen rich of all the hydrocarbon energy sources and it has high energy conversation efficiencies for power generation [1]. In olden days natural gas was only
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Petroleum and Natural Gas Engineering (Department Visitation) I believe that petroleum and natural gas engineering or is the perfect major and career for me. Petroleum and Natural Gas engineering otherwise abbreviated as PNGE to me is one of the most interesting‚ in depth‚ and overall the best suite of engineering for myself‚ not to mention that is where the booming money is. I am also no stranger to the natural gas industries. I had grown up on rural farm in Pennsylvania about 35 miles south of
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Chemical Composition of Natural Gas Natural gas is a naturally occurring gas mixture‚ consisting mainly of methane. While most of the gas supplied to Union Gas is from western Canada‚ some gas is supplied from other sources‚ including the United States and Ontario producers. While the gas from these sources has a similar analysis‚ it is not entirely the same. The table below outlines the typical components of natural gas on the Union Gas system and the typical ranges for these values (allowing for
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The Natural Gas Case In the Natural Gas case‚ a German company and a Dutch gas reseller (the plaintiffs) is suing an Austrian partnership company (the defendant) for a breach of contract. The plaintiffs negotiated and agreed to purchase 3000 metric tons of propane gas for $381 per metric ton from the defendant. Because of the two companies never conducting business with one another‚ the plaintiffs agreed to secure a letter of credit with its purchase. To secure the letter of credit with the purchase
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Shale gas is natural gas formed from being trapped within shale formations. Shale gas has become an increasingly important source of natural gas in the United States over the past decade‚ and interest has spread to potential gas shale’s in the rest of the world. In 2000 shale gas provided only 1% of U.S. natural gas production; due to rising oil prices gas prices have also been affected by the rise therefore there was big demand for gas in the US which in 2010 it was over 20% and the U.S. government’s
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