The glossary of terms is arranged alphabetically. Click on the
letters below to find terms beginning with that letter.
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
Burner tip: The point at which natural gas is
used as a fuel.