The British thermal unit (BTU or Btu) is a traditional unit of work equal to about 1055 joules. It is the amount of work needed to raise the temperature of one pound of water by one degree Fahrenheit (Physical analogue: one four-inch wooden kitchen match consumed completely generates approximately 1 BTU). In science, the joule, the SI unit of energy, has largely replaced the BTU.
The notation kBtu or KBTU is often used for thousand BTU, in sizing of heating systems and in the Energy Use Index (EUI) expressed as thousand BTU annual energy use per square foot of building. MBTU represents one million Btu, although the atypical notation MMBtu or mmBtu is sometimes used to represent one million BTU.(see definitions below)
KARACHI ... The shortfall is bridged through LNG imports ... However, the price of the commodity on the international spot, or short-term, market has risen from lows of $2 per million British thermal units (mmBtu) in 2020 to highs of $57 in August this year after demand in Europe surged, pushing Islamabad out of the market ... He added ... ....
ISLAMABAD ... “There is a sharp natural decline in the supply of gas ... “Qatar is the most reliable supplier. Despite increasing demand in the market, Qatar has not stopped giving us LNG at $15 per million British thermal units (mmBtu), compared to the price of $60 per mmBtu that it was charging from other countries, the petroleum secretary said ... .
Gas prices appear like a leaf in the wind, with little indication on how far they will be carried and in what direction. Early this week, European gas prices fell to almost $50 per million British thermal units (MMBtu) on the back of high storage levels at more than 87% full, but quickly rose on news of the damage to both Nord Stream pipelines ... ....
European natural gas prices had fallen to almost $50 per million British thermal units earlier in the week, according to European analyst firm Rystad Energy — substantially lower than they had been in recent weeks but still eight times the price in the UnitedStates.
The capital needed to trade the market soared after benchmark LNG prices rose from record lows below $2 per million British thermal units (MMBtu) in 2020 to highs of $57 in August. In July, Japan's Nippon Steel Corp, the world's second-largest steelmaker (5401.T), purchased an LNG shipment at $41/MMBtu ... As buyers of U.S ... ....
He said based on the consideration of all international forecast for the price of a barrel of oil, the 2022-23 budget is predicated a price of US$92.50 cents per barrel and a natural gas price assumption of six US dollars per Metric Million British Thermal Unit (MMBtu) ... These measures will take effect on January 1, next year ... .
The Cabinet amended the method of calculating the selling prices of natural gas for nitrogenous fertilizer factories, to become according to a new price equation, so that it is not less than $4.5 per million British thermal units ... at $5.75 per million British thermal units.
The impact of spike in global gas prices following the Russia-Ukraine conflict would push up the price of gas from legacy fields of and from $6.1 per unit to all-time high of $9 per unit (million British thermal unit) ...Global spot market rates had shot up to $65 per unit, 4-5 times the normal, soon after the conflict.