The glossary of terms is arranged alphabetically. Click on the
letters below to find terms beginning with that letter.
Margin: Funds or good faith deposits posted
during the trading life of a futures contract to guarantee
fulfillment of contract obligation.
Margin Call: A demand for additional or
variation margin funds when futures prices move adversely to a
Market Area Hub: An interchange where a shipper
can gain access to multiple transportation paths, flexible
supply/delivery points, and imbalance protection through
short-term storage and borrowing services.
Marketing Affiliate: Most usually a marketing
company with corporate ties to a pipeline or distributor.
Federal Energy Regulatory Commission (FERC) Order 2004 was
designed to curb any cozy relationships an interstate pipeline
marketing affiliate might have with either the transportation or
sales departments of the pipeline.
Marketer: A company, other than the pipeline or
LDC, that buys and resells gas or brokers gas for a profit.
Marketers also perform a variety or related services, including
arranging transportation, monitoring deliveries and balancing.
An independent marketer is not affiliated with a pipeline,
producer or LDC.
Mcf: 1,000 cubic feet. The average domestic
user consumes 100-200 Mcf annually. Very roughly, 1 Mcf = 1
MMBtu = 1 Dth = 1 gigajoule.
Mega-NOPR: The informal title of a Notice of
Proposed Rulemaking issued in 1991 by the Federal Energy
Regulatory Commission (FERC). The Mega-NOPR encompassed
comprehensive revisions to pipeline operations and rate-making,
including unbundling of al services, the adoption of straight
fixed variable rates and comparability of service. The Mega-NOPR
became Order 636.
MMBtu: 1,000,000 British Thermal Units.
Generally accepted as a rough equivalent of a Mcf. MMcfc
1,000,000 cubic feet.