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NATURAL GAS
CONTRACT SPECIFICATION
| Trading Screen Product Name | NYMEX Henry Hub Natural Gas | |
| Commodity Code | NGE | |
| Contract Size | 10,000 MMBtu / lot | |
| Price Quotation | USD / mmBtu | |
| Trading Hours | Monday - Friday 06:00 A.M - 05:00 A.M (the next day) |
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| Minimum Price Fluctuation | 0.001 USD / mmBtu | |
| Contract Series | Monthly contracts listed for the current year and the next 12 calendar years. Add monthly contracts for a new calendar year following the termination of trading in the December contract of the current year. | |
| Delivery Registration Day | As MXV required | |
| First Notice Day | 3rd last business day of the month prior to the contract month. | |
| Last Trading Day | As MXV required | |
| Margin | As MXV required | |
| Position Limit | As MXV required | |
| Price Limit |
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| Settlement Method | Not delivarable | |
| Quality Standards | Standards are detailed below |
QUALITY STANDARDS
In accordance with the regulations of Henry Hub Natural Gas traded on New York Mercantile Exchange (NYMEX).
Product infomation
Product introduction
Natural gas is a fossil fuel commonly found in oil fields. It is a non-renewable fuel that supplies about 25% of the world's energy supply.
Natural gas, after being processed, will become a clean fuel source, widely applied in the energy industry.
Figure 1: Natural gas rig in the US
Characteristics
Natural gas is a mixture of hydrocarbon organic gases with the largest component being methane, in addition to a few other gases.
Figure 2: Natural gas reserves worldwide (unit: m3)
Use
- Natural gas is used both in industry and civil
- In industry, natural gas is used as raw material and fuel for chemical processing.
- In civil use, natural gas is used in gas stoves and home heating.
- From natural gas can produce important products such as: LPG, ammonia, methanol, ethylene, propylene, of which ethylene, propylene are important raw materials in the petrochemical industry.
Commerce
At the end of 2019, a representative of the Ministry of Industry and Trade said that Vietnam's natural gas output is currently about 9-10 billion m3. Orientation for the period 2021 - 2025: Gas exploitation output will reach 13-19 billion m3/year; Period 2026 - 2035: Gas production will reach 17-21 billion m3/year. The amount of gas exploited in the country is mainly used to produce electricity (gas power plants).
Figure 3: Leading countries in natural gas exploitation in 2014 (light blue) and 2018 (dark green)
(unit: billion m3)
Impact on natural gas prices
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