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Quantity Value

A quantity value (value of a quantity – see NIST SP 811) is comprised of a number and a unit of measure (UoM) and specifies a quantity for a given bulk product.

Example:

103 545.34 m³ (NOV) or 102 345.34 m³ (NSV) are quantity values for the quantities net observed volume (NOV) and net standard volume (NSV).  Quantity values are typically determined by a measurement or a subsequent quantity conversion from a quantity value obtained by measurement.

You multiply a quantity value with the price per unit of measure for that product to obtain the total value of the product.

Example:

Diesel is e.g. priced at 500 € / ( m³ at 15 °C )

  • m³ is here the net standard volume (NSV) – specification of the quantity (and standard temperature) is important.

You multiply: 102 345.34 m³ × 500 € / m³ = 51 172 670 €, which is the value of your product.

Since volumes change with temperature and pressure, it is important to convert the m³ quantity value from an observed volume to a m³ quantity value for a volume at a defined reference temperature and reference pressure.

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