Lee,
Valve grease is a thick grease that will not dry out or break down when exposed to hydrocarbons or mild heat. The grease is what seals the valve and also lubricates it.
I found alot of misinformation online when I started my search for it. Even more questionable advise from local hardware stores. No hardware store or appliance parts place in Louisville, KY carries it anymore. I dont think newer gas valves need it, so there probobly isnt much demand. I did find an industrial supply company that had it, but they refused to sell it to me unless I was HVAC licensed.
But I did find some online. The first one was here:
http://www.antiquestoves.com/toac/valvec1.htm Seems like it would work but I couldn't find any info about what is was made from. So I chose this one:
http://www.oilybits.com/lubricants/dow-corning-molykote-1102-gas-thingy-grease/p
rod_174.html A tube big enough for 1000's of applications and I trust Dow Corning products. Unfortunatly I could not find a USA distributor for the stuff, so I bought from this UK store. Even with shipping it was less than $20.
Now my valves open and close really smooth like you would expect them to.