Commodities Now Glossary

GAFTA - The Grain and Feed Trade Association - are an international Trade Association with over 1400 Members in 86 countries who's aim is to promote international trade in grain, animal feed materials, pulses and rice and to protect the interests of our members worldwide, providing the support and international contacts they require.

Gallon – A volumetric measure equal to 4 quarts (231 cubic inches) used to measure fuel oil. One barrel equals 42 gallons.

Gamma - 

A measurement of how fast delta changes, given a unit change in the underlying futures price.

Gartner - The world's leading information technology research and advisory company. Gartner delivers the technology-related insight necessary for its clients to make the right decisions, every day. From CIOs and senior IT leaders in corporations and government agencies, to business leaders in high-tech and telecom enterprises and professional services firms, to technology investors, Gartner is the valuable partner to clients in 12,000 distinct organizations.

Gas Exporting Countries Forum (GECF). The GECF, whose members hold about 70% of the world's conventional gas reserves, is made up of Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago and Venezuela.

Gas to liquids (GTL) A process that combines the carbon and hydrogen elements in natural gas molecules to make synthetic liquid petroleum products, such as diesel fuel.

Gas turbine plant A plant in which the prime mover is a gas turbine. A gas turbine.

Gasification A method for converting coal, petroleum, biomass, wastes, or other carbon-containing materials into a gas that can be burned to generate power or processed into chemicals and fuels.

Gasohol A blend of finished motor gasoline containing alcohol (generally ethanol but sometimes methanol) at a concentration between 5.7 percent and 10 percent by volume. Also see Oxygenates

Gasoline blending components Naphthas which will be used for blending or compounding into finished aviation or motor gasoline (e.g.,straight-run gasoline, alkylate, reformate, benzene, toluene, andxylene). Excludes oxygenates (alcohols, ethers), butane, and pentanes plus.

Gigawatt (GW) One billion watts or one thousand megawatts.

Gwe Gigawatt-electric

Gigawatthour (GWh) One billion watthours.

GIIPS - A common abbreviation for the struggling countries of the Eurozone economies: Greece, Ireland, Italy Portugal and Spain.

Glencore – A leading integrated producer and marketer of commodities, with worldwide activities in the marketing of metals and minerals, energy products and agricultural products and the production, refinement, processing, storage and transport of these products.

Global Energy Advisory -Led by Aily Armour-Biggs who has over 23 years' global energy and banking experience including key senior industry positions, and is one of the most respected figures in the industry. In our uncertain and volatile energy world, Global Energy Advisory provides you with clarity. They are disciplined energy traders/power development professionals who have seen the future of energy markets, networks and commodity flows, and work with integrity to nurture and support our clients to get them ready for a challenging future.

Global warming - An increase in the near surface temperature of the Earth. Global warming has occurred in the distant past as the result of natural influences, but the term is today most often used to refer to the warming some scientists predict will occur as a result of increased anthropogenic emissions of greenhouse gases.

Global Warming Potential (GWP) An index representing the combined effect of the differing times greenhouse gases remain in the atmosphere and their relative effectiveness in absorbing outgoing infrared radiation.

globalCoal - globalCOAL was founded by leading members of the world coal industry to promote the development of the coal markets through screen trading of standardised coal products. Its mission has been achieved through three major innovations. Firstly, globalCOAL defined a range of standardised coal quality specifications, which was then imbedded in its Standard Coal Trading Agreement (SCoTA®) - now widely established as the contract of choice for the sale and purchase of seaborne thermal coal.

Gestore del Mercato Elettrico (GME - Italian Power Exchange) - GME is the company which organises and manages the wholesale electricity market in Italy. On GME, producers, consumers and wholesalers may enter into electricity purchase and sale contracts for the next day, and from 2008, also trade electricity blocks for forward physical delivery. GME also organises and manages environmental Markets, i.e. the venues where the Green Certificates, Energy Efficiency Certificates and Emission Allowances are traded. GME has been attributed , moreover, by law no. 99 of 23 July 2009, the exclusive management of the Italian natural "Gas Exchange".