CommoditiesTwo major gas discoveries in less than two months: Omega Oil & Gas
Tue 23 May 23, 12:36pm (AEDT)
Natural Gas
Commodity
·
USD/MMBtu
$2.71
-0.11
(-3.78%)
DAY HIGH
2.73
DAY LOW
2.69
PREV CLOSE
2.71
Natural gas is a fossil fuel formed deep beneath the earth's surface. Natural gas contains various compounds, most notably methane.
Liquefied natural gas (LNG) is natural gas that has been cooled to a liquid state, around -161°C.
Natural gas accounted for approximately 23% of the world's primary energy mix in 2019. According to the Office of the Chief Economist, electricity production consumes 40% of global gas use, followed by residential, industrial and transport segments.
Around 3/4 of natural gas is sold via long-term contracts.