Gas hydrate

Gas hydrate is a widespread combination of water and natural gases (often methane). It can be a source of problems for oil and gas drilling and production. It has potential as an energy reserve and as a basis for carbon sequestration. It is known to occur on every continent, and in large quantities in marine sediments. Its appearance and properties are like ice. There can be a layer several hundred meters thick just below the sea floor near permafrost in the Arctic. The worldwide amounts of carbon bound in gas hydrates is conservatively estimated to total twice the amount of carbon to be found in all known fossil fuels on Earth.

General Agreement on Tariffs and Trade

GATT

The General Agreement on Tariffs and Trade (GATT) covers international trade in goods. The workings of the GATT agreement are the responsibility of the Council for Trade in Goods (Goods Council) which is made up of representatives from all WTO member countries. The Goods Council has 10 committees dealing with specific subjects (such as agriculture, market access, subsidies, anti-dumping measures and so on). Again, these committees consist of all member countries.

Generation Y

Also known as the ‘Millennial Generation’, Generation Y is a term for the demographic group born between 1980 and the early 2000s (though there are no precise dates).

Generics

Generics is a term for generic drugs. A generic drug is a pharmaceutical substance which contains an active ingredient which was originally protected by chemical patents. In most cases, generics are brought to market to replace a successful, branded drug after its patent protections expire. The availability of a generic alternative usually causes significant reduction in the price of the drug.

Geographic Information System

GIS

A GIS integrates hardware, software, and data for capturing, managing, analyzing, and displaying all forms of geographically referenced information. GIS data is used as the basis for location based services such as routing information.

Global Data Synchronization Network

(GDSN)

The Global Data Synchronisation Network (GDSN) was created as an industry endorsed initiative to overcome product data inaccuracies and increase efficiencies among trading partners and their supply chains. GDSN is a network of certified data pools that enable product information to be captured and exchanged in a secure environment conforming to global standards. The standards body that governs the GDSN is GS1

Global positioning system (GPS)

A GPS receiver uses signals from a set of US satellites to calculate its geographic location, and establish the reference time. GPS receivers are built into a wide variety of devices, including cell phones, navigation devices, vehicle tracking systems. Similar global systems have been established by the EU (Galileo), China (BeiDou) and Russia (Glonass), and regional systems by Japan (QZSS) and India (IRNSS); however GPS is more widely used.

Globalization

Globalization is a widely used term. When used in an economic context, it refers to the reduction and removal of barriers between national borders in order to facilitate the flow of goods, capital, services and labour. An example is harmonization of standards). When used in relation to manufacturing and supply chain, it often refers to outsourcing and offshoring production to low cost regions.

Greenhouse Gases

Greenhouse gases are gases in the atmosphere that absorb and emit radiation within the thermal infrared range. This process is the fundamental cause of the greenhouse effect. Common greenhouse gases in the Earth’s atmosphere include water vapour, carbon dioxide, methane, nitrous oxide, ozone, and chlorofluorocarbons.

Gross Product Worth (GPW)

Used in the oil and gas sector, GPW is the value of all refined products which are produced from a barrel (or sometimes tonne) of crude oil. GPW can be used to assess historic performance. It can also be used to help plan oil refinery operations, by reconfiguring processing to maximize estimated GPW.