British thermal unit

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British Thermal Unit

The energy needed to raise the temperature of one pound of water one degree Fahrenheit. It is used in the United Kingdom, the United States, and a few other countries to measure the energy used by appliances like heaters and air conditioners. In the metric system, the equivalent of the British thermal unit is the joule. It is abbreviated BTU.

British thermal unit (BTU)

A unit of measure of heat,used in rating the capacity of air conditioning and heating equipment.One BTU is the amount of energy necessary to raise the temperature of 1 pound of water by 1 degree Fahrenheit.
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Domestic gas price was raised from $ 4.2 per million British thermal unit to $ 5.61 per per million British thermal unit effective November 1, 2014.
India-based Reliance Natural Resources Limited (Reliance Natural Resources) (BSE: 532709) (RNRL) has announced that Reliance Industries Limited (Reliance Industries) (RIL)(500325.BY) is aiming to sell natural gas at USD4.20 per million British thermal unit instead of USD2.34.
Federal minister for Petroleum and Natural Resources Shahid Khaqan Abbasi told that Pakistan and Qatar have yet not initiated talks on the pricing of LNG but it will be in the range of $16-17 per Million British Thermal Unit (MMBTU).
GAIL is proposing to import six million tonnes (mt) of LNG from the US per year, with an exposure of $2.5 billion estimated at FoB price of $9 a million British thermal unit, targeting domestic power and fertiliser consumers.
As far as exploration and production (E and P) sector is concerned, 2014 will be the year of renewed focus on exploration activity in zones I and II while the incentives offered in the new E and P Policy 2012 and low British thermal unit (BTU) gas policy will spur activity in the country, said research analyst-PAGE.
In the new policy, wellhead gas price has been set at $6 per Million British Thermal Unit (MMBTU) for Zone-III, $6.3 for Zone-II and $6.6 for Zone-I.
(RIL) to double the price of gas produced from its KG-D6 block to $8.4 a million British thermal unit (mBtu) from April 1, 2014, subject to provision of furnishing around $135 million bank guarantee every quarter.
The government had in June this year raised price of gas paid to ONGC to $4.2 per million British thermal unit from $1.79 per mmBtu.
Unfortunately, we found that for us to go ahead with LNG, we need a landed cost of $10 per million BTU British Thermal Unit .
A gas price of US$6.75 per million British thermal units;
The government has decided to keep tariffs for the first slab unchanged at Rs121 per million British thermal units (mmBtu) or a maximum bill of Rs285.
The Asian spot price for liquefied natural gas (LNG) has dropped to below $5 per million British thermal units (mmBtu) this week as sellers flooded the market with spot cargoes, trade sources said.

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