Despite synergies in exploration and production, natural gas and oil markets differ. This course provides an understanding of international natural gas market structures, players and rules - covering the economics of the natural gas industry along the value chain, with an international perspective and hands-on experience.
Course Level: Basic to Intermediate Instructor: Andrej Pustisek
Designed for you, if you are...
A manager, engineer or geoscientist from industry, consultancy firms, traders or regulatory and governmental institutions, who has an interest in acquiring profound knowledge of the international natural gas business
A basic understanding of the fundamentals of the industry as well as economy and business is assumed.
How we build your confidence
Interactive lecture based on up-to-date industry information and practical experience
Web based information access
Individual and working group exercises
Extensive handouts for individual repetition and additional documentation
By the end of the course you will feel confident in your understanding of:
The natural gas business and the different markets
Competitors’, suppliers’, customers’ and regulators’ intentions and incentives
How to structure and negotiate natural gas sales, transportation and storage contracts
Interdependencies and differences between natural gas sales, transportation and storage
How to determine and evaluate gas prices
Unbundling and the role of natural gas transportation and storage
Current natural gas market trends
Essential sources of information
Fundamentals - Natural gas as a source of energy: users, usage and usability - Components, players and interdependencies of the natural gas value chain - incl. transportation, storage and distribution - International natural gas markets (incl. hubs) and infrastructure: supply, demand, sales - Regulation - Security of supply
Economics of agreements - General structure and economic objectives * Commodity (long-term contracts and hub based) * Transportation (pipeline and LNG) * Storage - Key non-price terms and conditions and their economic impact in modern markets - Pricing - Implications and interdependencies
Current trends and recent developments - Market developments - Environmental impact - Portfolio management and risk mitigation - (US) shale gas - Globalisation: the impact of LNG - Cross commodity trading - Strategic pitfalls (case studies)