Natural gas before the natural gas can be transported. Natural gas extracted from oil wells is called casinghead gas (whether or not truly produced up the annulus and through a casinghead outlet) or associated gas. The natural gas industry is extracting an increasing quantity of gas from challenging resource types: sour gas, tight gas, shale gas, and coalbed methane. There is some disagreement on which country has the largest proven gas reserves. Sources that consider that Russia has by far the largest proven reserves include the US CIA (47 600 km³), the US Energy Information Administration (47 800 km³), and OPEC (48
Natural gas prices flows based on underlying index prices or delivery obligations or time periods. Participants use these tools to further hedge their financial exposure to the underlying price of natural gas. The demand for natural gas is mainly driven by the following factors: Weather conditions can significantly affect natural gas demand and supply. Cold temperatures in the winter increase the demand for space heating with natural gas in commercial and residential buildings. Natural gas demand usually peaks during the coldest months of the year (December–February) and is lowest during the "shoulder" months (May–June and September–October). During the warmest summer months (July–August), demand