Energy Trading Systems - Exam 1 Review

The name of the Energy Trading System that you are using for the lab is

Energy Flow

What city is considered the Energy Capital of the World

Houston, Texas

FERC stands for

Federal Energy Regulatory Commission

Three Major Gas Industry Fundamentals can be referred to as:

a. Supply / Acquisition
b. Logistics
c. Demand / Disposition

The Major Gas Industry Fundamentals can be presented as either:

Supply – Logistics – Demand
Or
Acquisition – Logistics – Disposition

Which major Natural Gas Fundamental Area do you find City Gates, Consumption Meters, Which major Natural Gas Fundamental Area do you find
Distribution Activities

distribution/demand area

Which major Natural Gas Fundamental Area is associated with Purchases and Production Activities

Supply/Acquisition

The FERC governs

Interstate Pipelines

Individual States govern

Intrastate Pipelines

What made the United States a top oil and gas producer

The innovation of Hydraulic Fracking

What are the three Major Gas Industry Fundamentals in the supply chain

Supply – Logistics – Demand

Which of the three Major Gas Industry Fundamentals has multiple parts

logistics (transportation process and storage)

LDC stands for

Local Distribution Company

The primary social concern of Natural Gas Pipelines is

Safety and well-being of customers

What are the three Pipeline types

Gathering, Distribution and Transmission

What are the characteristics of the three major Pipeline types

Gathering Pipeline Systems:
Small Diameter Processing Plants Common Point Meter

Transmission Pipeline Systems:
Large diameter Crosses state line Long hauls

Distribution Pipeline Systems:
Small diameter End of line End-user delivery City Gates

Which of the three major Pipeline types have similar characteristics

Gathering and Distribution

What is the predominant number of storage facilities are located in the Distribution Area

Seasonal Demand- Most storage are located underground, commonly in depleted gas or oil reservoirs. Traditionally held in the Summer, till needed in the Winter

Peak Demand - they increase/decrease in a day.

In what area of the country would u find predominant storage -> NORTH because there's more demand

Name of the facilities that are spread along the pipelines that propel natural gas to its destination

Compressor Stations

What is the Intelligent Pipeline Pigs used for

to determine the Structural Integrity of the
Pipeline

What is gas is called once it has been processed at a plant

Market Ready

What are Compressor Stations use for

fuel

What is the primary purpose of Compressor Stations

use fuel for natural gases; primary purpose is to drive natural gas to destination

What is a solid black hydrocarbon, that is found near the surface of the earth called

Coal

Where is the BTU factor determined

at a laboratory

What could happen to gas customers if gas is not delivered to them during critical weather

Death

Who were the new player in De-regulation.

The Marketers

What are Check Meters are used for?

to identify gas leaks

What are the two types of Planning Forecast Models

Long term(1-3 years) and Short term (day to day/ month to month) planning models

What is Bid-Week, when does it occur and what is its process?

Base loading end of every month (last week).The period near the end of each month when the bulk of contracts for monthly gas supply for the following month are finalized

Morning Meetings are

planning for he followind day;s operations and trading; to the Next Day Game Plan

BTU stands for

British Thermal Unit

What is MCF

the Measurement Unit used to determine the quantity of gas flowing through a pipeline

Formula to determine an MMBTU given an MCF quantity and a BTU Factor

MCF x BTU = MMBTU

MCF =

Quantity (Physical Units)

MMBTU =

Quality (Energy Value)

What is a Christmas Tree is in the Natural Gas Industry

Type of Wellhead Meter that controls the pressurized flow of gas

Gathering and Distribution pipelines have similar characteristics that is …

Small diameter pipes

Who is concerned with ownership of gas?

Business Divisions

IntrAstate Pipelines

pipes that do not cross state lines; regulated by state

IntrEstate Pipelines

pipes that cross state lines; governed by FERC

1800

Non-regulated, wild wild west

1930

Regulation, Overly so

19800

De-regulation, kind of regulated supply/demand but not trasport

2000

Fracking, new ball game

2020

LNG Market, Hello World Delivered gas around the world

Gathering Pipeline

Upstream/ Production market

Transmission Pipeline

Midstream/ wholesale market

Distribution Pipeline

Downstream/ Consumption market

what is FERC's role is in the industry

Is an independent agency that regulates the interstate transmission of natural gas, oil, and electricity