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The effect a gas fireplace has on your gas bill will depend on how often you use it, the size of the rooms you’re heating with it, and the BTUs of the fireplace itself, but generally speaking, it should only cost a few cents an hour to run it when it’s on. It will consume minimal energy when it’s “off” if you have a pilot light running constantly, but some modern gas fireplaces don’t require a constant pilot light.

No, you shouldn't cap a gas pipe with a compression fitting because they aren't designed for gas lines and can pose serious safety risks. Gas pipes require threaded caps that create a secure, leak-proof seal capable of handling gas pressure. Using a compression fitting could lead to dangerous gas leaks—a hazard you definitely want to avoid. 

Not all gas fireplaces need a chimney. If you install a ventless gas fireplace, it will release low levels of combustion byproducts back into your living space (instead of pushing them outside through a chimney or vent). Ventless fireplaces burn fuel efficiently, so the emissions are minimal—but they could bother people with allergies or respiratory issues.

In some ways, yes, and in some ways, no. As for how they’re the same, propane and gas both burn via the same process, combustion, and at the same temperature, around 3,600 degrees Fahrenheit. The difference is that propane produces more heat per unit than gas. One cubic foot of propane contains 2,516 BTU, while one cubic foot of gas contains 1,030 BTU.