The GLOSSARY OF TERMS is arranged alphabetically. Click on the letters below to find terms beginning with that letter.

Feedstock Gas: Gas used as a raw material for its chemical properties in creating an end product (like plastics and fertilizer).

Firm Recallable Capacity: Firm capacity released, usually to a specific acquiring shipper, subject to the releasing shippers right to recall the capacity, in accordance with previously specified criteria (like unexpectedly cold weather).

Firm Service: The highest quality sales or transmission service offered to customers under a filed rate schedule that anticipates no planned interruption. Firm service is usually associated with distribution companies that serve residential customers and other "high priority end-users," but can also apply to upstream pipelines and other customers.

Force Majeure: An "Act of God" or unexpected and disruptive event beyond the control of buyer or seller that interferes with a party's ability to perform under a contract. A force majeure event will typically relieve a party from a contractual obligation.

Futures: Standardized contract for the purchase or sale of a commodity that is traded for future delivery under the provisions of exchange regulations.

Futures Options: The holder of a futures option is conferred the right but not the option to buy or sell a specified futures contract at a chosen price. The option holder may purchase a fixtures contract once the contract begins trading at the named price.