Natural gas is traditionally measured by volume and is stated in cubic feet. A cubic foot of natural gas is the amount of gas needed to fill a volume of one cubic foot under set conditions of temperature and pressure. For a more specific measurement, industry professionals will measure in British Thermal Units (BTUs), which is the amount of heat needed to raise one pound of water at maximum density through one-degree Fahrenheit. 1 cubic foot of natural gas equates to roughly 1,000 BTUs.

Even though pricing metrics depend on the market, natural gas is usually priced per thousand cubic feet, which is sometimes written as “mcf.”