oil & gas assets

Glossary of Industry Terms

This library of terms is constantly growing. If you cannot find a term you need or would like to suggest a term to add to this glossary email us at memberservice@plsx.com


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L (Leases)
Liquefied Natural Gas (LNG)
Natural gas, chiefly methane, liquefied for transportation. Requires cryogenic recovery process at very low temperatures.
Liquefied Petroleum Gas (LPG)
Light hydrocarbon material, gaseous at atmospheric temperature and pressure, held in the liquid state by pressure to facilitate storage, transport and handling. Commercial liquefied gas consists essentially of either propane or butane, or a mixture.