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Energy Trading Systems Questions and
Correct Answers Updated 2025 Graded A
- Acquisitions(Supply): Supply Commodity- the actual units of gas produced or purchased.
- Logistics: Transportation Services- Moving the gas from supply to demand Processing Services- Making the gas market ready Storage Service- Storing gas for peak period needs
- Dispositions(Demand): Demand Commodity- Actual units of gas sold or consumed - ANSKnow the three Major Gas Industry Fundamentals in the supply chain. 1800s - Non regulated, Wild Wild West 1930s - Regulation, Overly so 1980s - De-Regulation, Kind of 2000s - Fracking, New Ball Game 2020s - LNG Market, Hello World - ANSKnow the Historical Path of the Natural Gas Industry. A device used to clean and inspect the inside of the pipeline. Pigs may be used in hydrostatic testing and pipeline drying, internal cleaning, internal coating, liquid management, batching, inspection. - ANSKnow what Pipeline Pigs are used for.
Acquisition or supply - ANSKnow what word is most associated to Commodity. Also known as Horizontal Fracking Engineer takes the gas out of rocks. Completely changed and reconfigured the industry. This process can often allow economic gas production in formation which otherwise would not be economic to produce. Recent innovation (2000s) - ANSKnow what Hydraulic Fracturing is and what it has meant to the Natural Gas Industry. America - ANSKnow what country is the largest gas producer in the world today. 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. Bid week occurs in the first week of the flow month -> false IT occurs the last week prior to the month - ANSKnow about Bid-week. When does it occur and what is its purpose? Best effort - ANSKnow what type of effort is required for a Non-firm Contract. British Thermal Unit (BTU) - ANSKnow what BTU stands for.
space on the pipeline - ANSKnow the properties of Commodity and Demand charges. Consumer - ANSKnow who in the end pays for all the cost incurred. Death - ANSKnow what could happen to gas customers if gas is not delivered to them during frigid weather. Disposition - ANSKnow what word is most associated to Demand. Either measured by volume or energy content. Measured with orifice plates, measured by MCF's - ANSKnow how gas is measured in the pipeline and what quantities are called. Electric Generation Customers (Electricity) - ANSKnow who the number one consumer of gas today is. Firm contract - ANSKnow in which type of contract will you find a Keep Whole Provision Firm/Non-firm - ANSKnow the Two Contract Types that we discuss. The industry has many, but discuss how we could group them into two. First Purchaser - ANSKnow what the State of Texas calls taxes charged on Natural Gas production.
For tomorrow - ANSKnow for what day are traders and scheduler nominating gas for in the Natural Gas Industry. Gas is bought and sold on quality MMBTU=Quality MCF=Quantity - ANSKnow the difference between the quantity and quality of gas, and what each is called. GasTrak - ANSKnow the name of the Energy Trading System that you are using for lab. Gathering and distribution bc they both have small diameters - ANSKnow which of the three have similar characteristics. 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 - ANSKnow 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
Non-Firm Purchase Agreement (Spot / Swing) Generally shorter term in nature and provide greater flexibility Assures delivery on a best efforts basis Subject to being cut or zeroed out No legal recourse available for Non-Performance Non Performance resolved via penalty GISB Purchase Contracts(1996) Gas Industry Standards Board (GISB) Dual purpose contracts: Purchase and Sales Standardized the contract language NAESB Purchase Contracts(2002) North American Energy Standards Board Dual purpose contracts- Purchase and Sales Non Performance resolved via Keep-Whole Optimized Settlement Process via Net Inv - ANSKnow the differences between Legacy, GISB and NAESB Purchase Contracts, and for GISB and NAESB, when they came into existence. Local Distribution Company (LDC) - ANSKnow what LDC stands for. Logistics (transport, processes, storage) - ANSKnow which of the three Major Gas Industry Fundamentals has multiple parts.
Long term(1-3 years) and Short term (day to day/ month to month) planning models - ANSKnow the two types of planning model/types. Market Ready - ANSKnow what gas is called once it has been processed at a plant. Marketers - ANSKnow who the new player at De-regulation. MCF = one thousand cubic feet, measurement of quantity of gas WHAT is measured in a pipeline-> MCF BTU = British Thermal Unit, measurement of heat content of gas, i.e. how much energy it contains/provides MMBTU = one million BTU - ANSKnow what MCF, BTU and MMBTU represent. MCF x BTU = MMBTU MMBTU/BTU = MCF - ANSKnow how to determine (calculate) MMBTU given an MCF quantity and a BTU Factor. Natural Gas - ANSKnow what Compressor Stations use for fuel and what is their primary purpose. Net Invoicing - ANSKnow the Naesb contract provision that the banking institution may not have liked. (bankers hate)
Supply = south - ANSKnow where the predominant number storage facilities located for meeting peak and seasonal demands. Shale oil from fracking - ANSKnow what has made the United States the top oil and gas producer of the world. Supply => actual units of gas that are processed or purchased. Supply required to meet demand Processing => Making the gas market ready Transport => Moving gas from supply to demand Storage => storing for peak period needs Demand => Actual units of gas that are sold or consumed. Driving force in any business endeavor - ANSKnow the five moving parts within the natural gas supply chain and their purposes The Federal Energy Regulatory Commission (FERC) - ANSKnow what FERC stands for. The safety of their customers - ANSKnow what is the main concern of the Natural Gas Industry for their customers. WHAT ARE the buildings along the pipeline that propel the gas -> compressor station
Compressor Stations provide the power that drives Natural Gas to its destination. A facility that propels gas through transmission lines or into storage by increasing pressure. - ANSKnow what propels natural gas to its destination.
