greg13
My understanding is that bcf is a measure of volume and PJ is a measure of energy. I think the equation goes like this:
A Bcf is a billion cubic feet, and a Tcf is a trillion (1,000) cubic feet:
So 1,000 Bcf = 1 Tcf
Some talk about GJ (Gigajoules) eg the Santos deal with Petronis.
1,000 GJ = 1 PJ and 1,000 PJ is closely equivalent to 1 Tcf
So 3,000 PJ = approximately 3 Tcf
..... So 3,000 PJ = a lot of money!! Recent deals have valued 1 PJ in the range $2.70m - $4.91m. say $3 and you get a value of $9 billion.
Sounds good to me!
H
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