All Posts By

Steve Mills

Glossary
August 8, 2022

Boilerplate

In contract law, the term "boilerplate language" or "boilerplate clause" describes the parts of a contract that are considered standard. In negotiations, the phrase “that’s boilerplate” can be used to mean that a clause is simply required and therefore not negotiable, does not need to be negotiated or is not…
Steve Mills
Glossary
July 28, 2022

Methane

A chemical compound with the chemical formula CH4 (one atom of carbon and four atoms of hydrogen). It is the simplest alkane and the main constituent of natural gas. At room temperature and standard pressure, methane is a colourless, odourless gas. The familiar smell of natural gas as used in…
Steve Mills
Glossary
July 26, 2022

Liquefied Natural Gas (LNG)

Liquefied natural gas (LNG) is natural gas (predominantly methane, CH4, with some mixture of ethane C2H6) that has been cooled down to liquid form for ease and safety of non-pressurized storage or transport. It takes up about 1/600th the volume of natural gas in the gaseous state (at standard conditions…
Steve Mills
Glossary
July 25, 2022

Japan Customs-Cleared Crude (JCC)

The Japan Customs-cleared Crude (JCC) is the average price of customs-cleared crude oil imports into Japan (formerly the average of the top twenty crude oils by volume) as reported in customs statistics; nicknamed the "Japanese Crude Cocktail". It is a commonly used index in long term LNG contracts in Japan,…
Steve Mills
Glossary
July 22, 2022

Associated Gas

Associated gas is gas produced as a by-product of the production of crude oil. Associated gas reserves are typically developed for the production of crude oil, which pays for the field development costs. The reserves typically produce at peak levels for a few years and then decline. Associated gas is…
Steve Mills
Glossary
July 21, 2022

Turbine Rated Power

The nominal maximum power output from a wind turbine. Sometimes referred to as capacity. The wind turbine is limited to this power output, which typically applies when the wind speed at the hub height exceeds about 12m/s and continues until about 25-30m/s when the wind turbine stops generating to avoid…
Steve Mills
Glossary
July 19, 2022

Transmission

The transfer of electricity at high voltage from the power stations across the country through wires on pylons to points where it can be distributed to users.
Steve Mills