Capping gas valve feeding gas fireplace insert

[TAH]

Hello,

I am trying to remove my gas fireplace insert and need some guidance regarding safely shutting off gas. I have attached a pic of the valve. I believe the valve is in the the open position as it is parallel, but the 'shut' indication is making me second guess. Once I am certain it is shut, can I remove the piping that leads to the insert and cap the valve at the place indicated in the photo (outlined in square)? What type of cap would I use to do this? Would I also tape the cap threads using yellow teflon? Thanks!

 

[Terry]

The part that is outlined is a flare end. There are no good caps for those. The valve will need to be removed at the other side.
Gas needs to be off for that to happen.

So to explain further. The supply end has IP threads, the output end is made to fit the final flex connector.
When I'm working with water heaters that have shutoffs like that, I wind up turning off gas to the home and replacing with a standard shutoff. Especially if I intend to cap it.

 

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[Jeff H Young]

its common here to put a flared gas cap on something like that like when a clothes dryer has not been installed or is temporarily removed I prefer a standard black iron ips cap cheaper and eliminate a valve (simpler safer)