Page 117 - PRIAA Glossary
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NAPHTHA
A refined petroleum product with specific gravity of about
0.7. Paraffinic naphtha is used as a feedstock for the petrochemicals industry, such as for ethylene manufacture or aromatics production. Heavier naphthenic naphtha is used as a refinery feedstock for reforming as a gasoline blend stock.
NATIONAL ALLOCATION PLAN (NAP)
Part of the legal framework of the European Union Emissions Trading Scheme (EU ETS) that determines
the distribution of CO2 allowances allotted to countries committed to the Kyoto Protocol or the EU ETS. The European Union oversees the NAP process and determines if it meets all the criteria of the Emission Trading Directive.
NATIONAL BALANCING POINT (NBP)
A virtual location where natural gas is traded in
the United Kingdom. An exchange system (ICE, IntercontinentalExchange) facilitates the trades at the NBP via an anonymous publication of offers or requests for gas. It is a major driver in determining the price of domestic consumer gas prices and is measured in pence per therm.
NATURAL GAS
A naturally occurring mixture of hydrocarbon and non- hydrocarbon gases found in underground porous geological formations. The primary component of natural gas is methane.
NATURAL GAS LIQUIDS (NGLS)
Hydrocarbons found in natural gas. Under pressure they exist in a liquid state. At normal atmospheric pressures, they exist in a gaseous state. The liquids are comprised of ethane, propane, butane and condensate.
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