Natural gasNatural gas (also called fossil gas, methane gas or simply gas) is a naturally occurring mixture of gaseous hydrocarbons consisting primarily of methane in addition to various smaller amounts of other higher alkanes. Low levels of trace gases like carbon dioxide, nitrogen, hydrogen sulfide, and helium are also usually present. Methane is colorless and odorless, and the second largest greenhouse gas contributor to global climate change after carbon dioxide.
Natural gas pricesNatural gas prices, as with other commodity prices, are mainly driven by supply and demand fundamentals. However, natural gas prices may also be linked to the price of crude oil and petroleum products, especially in continental Europe. Natural gas prices in the US had historically followed oil prices, but in the recent years, it has decoupled from oil and is now trending somewhat with coal prices. The price as at 20th January 2022, on the U.S. Henry Hub index, is US. The highest peak (weekly price) was US in January 2005.
Strategic managementIn the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's managers on behalf of stakeholders, based on consideration of resources and an assessment of the internal and external environments in which the organization operates. Strategic management provides overall direction to an enterprise and involves specifying the organization's objectives, developing policies and plans to achieve those objectives, and then allocating resources to implement the plans.
Liquefied natural gasLiquefied natural gas (LNG) is natural gas (predominantly methane, CH4, with some mixture of ethane, C2H6) that has been cooled down to liquid form for ease and safety of non-pressurized storage or transport. It takes up about 1/600th the volume of natural gas in the gaseous state (at standard conditions for temperature and pressure). LNG is odorless, colorless, non-toxic and non-corrosive. Hazards include flammability after vaporization into a gaseous state, freezing and asphyxia.
Coal gasCoal gas is a flammable gaseous fuel made from coal and supplied to the user via a piped distribution system. It is produced when coal is heated strongly in the absence of air. Town gas is a more general term referring to manufactured gaseous fuels produced for sale to consumers and municipalities. The original coal gas was produced by the coal gasification reaction, and thus the burnable component consisted of mixture of carbon monoxide and hydrogen in roughly equal quantities by volume. Thus, coal gas is highly toxic.
Producer gasProducer gas is fuel gas that is manufactured by blowing through a coke or coal fire with air and steam simultaneously. It mainly consists of carbon monoxide (CO), hydrogen (H2), as well as substantial amounts of nitrogen (N2). The caloric value of the producer gas is low (mainly because of its high nitrogen content), and the technology is obsolete. Improvements over producer gas, also obsolete, include water gas where the solid fuel is treated intermittently with air and steam and, far more efficiently synthesis gas where the solid fuel is replaced with methane.
Natural gas storageNatural gas is a commodity that can be stored for an indefinite period of time in natural gas storage facilities for later consumption. Gas storage is principally used to meet load variations. Gas is injected into storage during periods of low demand and withdrawn from storage during periods of peak demand. It is also used for a variety of secondary purposes, including: Balancing the flow in pipeline systems. This is performed by mainline transmission pipeline companies to maintain operational integrity of the pipelines, by ensuring that the pipeline pressures are kept within design parameters.
Monopolistic competitionMonopolistic competition is a type of imperfect competition such that there are many producers competing against each other, but selling products that are differentiated from one another (e.g. by branding or quality) and hence are not perfect substitutes. In monopolistic competition, a company takes the prices charged by its rivals as given and ignores the impact of its own prices on the prices of other companies. If this happens in the presence of a coercive government, monopolistic competition will fall into government-granted monopoly.
MonopolyA monopoly (from Greek mónos and pōleîn), as described by Irving Fisher, is a market with the "absence of competition", creating a situation where a specific person or enterprise is the only supplier of a particular thing. This contrasts with a monopsony which relates to a single entity's control of a market to purchase a good or service, and with oligopoly and duopoly which consists of a few sellers dominating a market.
Wood gas generatorA wood gas generator is a gasification unit which converts timber or charcoal into wood gas, a producer gas consisting of atmospheric nitrogen, carbon monoxide, hydrogen, traces of methane, and other gases, which – after cooling and filtering – can then be used to power an internal combustion engine or for other purposes. Historically wood gas generators were often mounted on vehicles, but present studies and developments concentrate mostly on stationary plants.
Gas ventingGas venting, more specifically known as natural-gas venting or methane venting, is the intentional and controlled release of gases containing alkane hydrocarbons - predominately methane - into earth's atmosphere. It is a widely used method for disposal of unwanted gases which are produced during the extraction of coal and crude oil. Such gases may lack value when they are not recyclable into the production process, have no export route to consumer markets, or are surplus to near-term demand.
Anti-competitive practicesAnti-competitive practices are business or government practices that prevent or reduce competition in a market. Antitrust laws ensure businesses do not engage in competitive practices that harm other, usually smaller, businesses or consumers. These laws are formed to promote healthy competition within a free market by limiting the abuse of monopoly power. Competition allows companies to compete in order for products and services to improve; promote innovation; and provide more choices for consumers.
Strategic planningStrategic planning is an organization's process of defining its strategy or direction, and making decisions on allocating its resources to attain strategic goals. Furthermore, it may also extend to control mechanisms for guiding the implementation of the strategy. Strategic planning became prominent in corporations during the 1960s and remains an important aspect of strategic management. It is executed by strategic planners or strategists, who involve many parties and research sources in their analysis of the organization and its relationship to the environment in which it competes.
Water gasWater gas is a kind of fuel gas, a mixture of carbon monoxide and hydrogen. It is produced by "alternately hot blowing a fuel layer [coke] with air and gasifying it with steam". The caloric yield of this is about 10% of a modern syngas plant. Further making this technology unattractive, its precursor coke is expensive, whereas syngas uses cheaper precursor, mainly methane from natural gas. Synthesis gas is made by passing steam over a red-hot carbon fuel such as coke: (ΔH = +131 kJ/mol) The reaction is endothermic, so the fuel must be continually re-heated to maintain the reaction.
Market researchMarket research is an organized effort to gather information about target markets and customers: know about them, starting with who they are. It is an important component of business strategy and a major factor in maintaining competitiveness. Market research helps to identify and analyze the needs of the market, the market size and the competition. Its techniques encompass both qualitative techniques such as focus groups, in-depth interviews, and ethnography, as well as quantitative techniques such as customer surveys, and analysis of secondary data.
Strategic thinkingStrategic thinking is a mental or thinking process applied by an individual in the context of achieving a goal or set of goals. As a cognitive activity, it produces thought. When applied in an organizational strategic management process, strategic thinking involves the generation and application of unique business insights and opportunities intended to create competitive advantage for a firm or organization. It can be done individually, as well as collaboratively among key people who can positively alter an organization's future.
GasGas is one of the four fundamental states of matter. The others are solid, liquid, and plasma. A pure gas may be made up of individual atoms (e.g. a noble gas like neon), elemental molecules made from one type of atom (e.g. oxygen), or compound molecules made from a variety of atoms (e.g. carbon dioxide). A gas mixture, such as air, contains a variety of pure gases. What distinguishes a gas from liquids and solids is the vast separation of the individual gas particles.
Wood gasWood gas is a fuel gas that can be used for furnaces, stoves, and vehicles. During the production process, biomass or related carbon-containing materials are gasified within the oxygen-limited environment of a wood gas generator to produce a combustible mixture. In some gasifiers this process is preceded by pyrolysis, where the biomass or coal is first converted to char, releasing methane and tar rich in polycyclic aromatic hydrocarbons.
Competitive advantageIn business, a competitive advantage is an attribute that allows an organization to outperform its competitors. A competitive advantage may include access to natural resources, such as high-grade ores or a low-cost power source, highly skilled labor, geographic location, high entry barriers, and access to new technology and to proprietary information. The term competitive advantage refers to the ability gained through attributes and resources to perform at a higher level than others in the same industry or market (Christensen and Fahey 1984, Kay 1994, Porter 1980 cited by Chacarbaghi and Lynch 1999, p.
Competition (economics)In economics, competition is a scenario where different economic firms are in contention to obtain goods that are limited by varying the elements of the marketing mix: price, product, promotion and place. In classical economic thought, competition causes commercial firms to develop new products, services and technologies, which would give consumers greater selection and better products. The greater the selection of a good is in the market, the lower prices for the products typically are, compared to what the price would be if there was no competition (monopoly) or little competition (oligopoly).
