The glossary of terms is arranged alphabetically. Click on the letters below to find terms beginning with that letter.
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Backhaul: A transaction in which gas is delivered to a customer upstream of the point that the customer's gas is actually put into the pipe. The customer takes gas that was placed into the pipeline for another customer and replaces it with gas injected downstream of its own delivery point, but ahead of the delivery point of the second customer.
Balancing: Equalizing a shipper's receipts of gas into a pipeline with withdrawals. Balancing may be accomplished daily, monthly or seasonally with penalties assessed for excessive transportation imbalance. Before imposing penalties, however, shippers are generally provided notice and an opportunity to remedy the imbalance.
Base Load: A volume of gas that serves as a constant load over a period of time.
Basis Differential: The difference in price between the spot market gas price at a certain location and the NYMEX futures price, or the difference between spot cash prices at different locations.
Bcf: Billion cubic feet.
Boiler Load: Use of natural gas by industrial and commercial end users to heat water or produce steam.
British Thermal Unit (Btu): The quantity of heat required to raise one pound of water (about one pint) one degree Fahrenheit at or near its point of maximum density. A common unit of measurement or gas prices. 1034 Btu's = 1 Cubic Foot.
Burner tip: The point at which natural gas is used as a fuel.