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A-H

Abandoned well: a well (oil, natural gas, or water injection) not in use because it was a dry hole originally, or because it has ceased to produce economical quantities of oil and/or natural gas, or has become unusable. Regulations require the plugging of abandoned wells to prevent the seepage of oil, gas, or water from …

I-M

Ideal specific gravity: the ratio of the molecular weight of a gas to the molecular weight of air. Molecular weight of air = 28.9644. Imbalance penalties: penalties implemented by a pipeline to provide an incentive for shippers to maintain actual receipts and deliveries at nominated and confirmed levels. Imbalance trading: process by which shippers can …

National Balancing Point (NBP): a notional point on the UK Transco pipeline through which all gas is deemed to flow. National Energy Board: Canadian regulatory body that oversees inter-provincial natural gas trade and pipelines. Located in Calgary, Alberta. Native gas: natural gas in place in a producing reservoir when the reservoir is converted into a …

S-Z

Sale for resale: a sale of natural gas to a customer who will in turn sell that gas to someone else. Sales and Purchase Agreement (SPA): a 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 …