LNG Industry Fundamentals

LNG Industry Fundamentals

Euromoney Training
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Description

This 3-day programme has been designed to enable delegates to learn about the integrated nature of the LNG industry, its value creation, risk profile and mitigation as well as its physical chain, ownership chain and financial and commercial chain. Natural gas is a growth business. LNG can be characterised as “the bricks and mortar of bridging the gap between distant supply and demand centers that cannot be fused together by any other means”. This programme has been designed to enable delegates to learn more about the complexities of LNG project development, critical success factors and failure characteristics. In this programme participants will gain the knowledge and business acumen on the …

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This 3-day programme has been designed to enable delegates to learn about the integrated nature of the LNG industry, its value creation, risk profile and mitigation as well as its physical chain, ownership chain and financial and commercial chain. Natural gas is a growth business. LNG can be characterised as “the bricks and mortar of bridging the gap between distant supply and demand centers that cannot be fused together by any other means”. This programme has been designed to enable delegates to learn more about the complexities of LNG project development, critical success factors and failure characteristics. In this programme participants will gain the knowledge and business acumen on the key subjects: Role of natural gas in the energy system, rationale for LNG and its place in energy development Natural gas monetisation processes Project management and LNG development from concept phase, execution, operations Typical arrangements in LNG export projects, contractual agreements, structuring elements LNG Business model comparisons, marketing and sales arrangements Typical project risks and risk allocation, key success factors in the LNG business LNG financing sources, standards and principles of potential lenders LNG markets, pricing mechanisms and LNG competitiveness LNG challenges, innovations and future trends Demand drivers for LNG and supply side competition Who should attend? This course is tailored for individuals working at the technical-commercial interface and who are involved in project management and commercial management functions like: Business development and planning Logistics and scheduling Government regulations and legal affairs Contractual arrangements Tax & finance, auditing and analysis Compliance regulations Equity analysis, economics and banking Joint venture structuring and negotiations Trading and supply and shipping arrangements Programme objectives The participant should: Gain broad perspective of the LNG industry Better understand the integrated and cross-discipline nature of LNG project development Master the LNG value chain from gas wellhead, liquefaction, shipping, regasification to market Understand markets, strategies and LNG project structures and arrangements Confidently discuss LNG terms, concepts and ideas within the industry and with peers and clients Training methodology This programme is designed to be dynamic and interactive in order to encourage delegate participation through a combination of conventional teaching, group discussion, practical Q&A, case studies, and quick quizzes to enhance gaining of relevant knowledge and skills.
Day 1 Natural Gas and LNG Role of natural gas in energy system Image factor of natural gas vs. other energy sources Gas characteristics and gas laws Major gas fields around the world Gas markets and natural gas products (methane, NGLs, condensates) History of LNG development Rationale for LNG Government requirements Reduction of gas flaring Increased usage of gas in world market to reduce CO2 levels Recovering of gas value from stranded gas assets Complexity of LNG project Multitude of players Alignment along several steps of value chain Variety of international contracts Capital intensive Long-term integrated scheduling Gas utilisation & LNG value chain Natural gas development – the issue of stranded gas Pipeline vs. process gas monetisation Gas monetisation technologies: LNG, GTL, fertiliser, methanol LNG value chain: upstream, LNG plant, shipping, regasification, markets Day 2 LNG process Comparison of LNG processes LNG facilities Gas composition LNG plant flow diagram Train sizes Tankage and loading Integrated transportation analysis Shipping (moss vs. membrane vs. sphere shaped) Shipping structure own vs. charter (time vs. bareboat) Delivery ex-ship vs. f.o.b. Regasification terminals - Wobbe Index - Onshore vs. offshore Project structure - Typical LNG project structure - Tolling facility - Project company - Unincorporated joint venture - Reasons for choosing a particular structure - Critical contractual agreements - Structuring issues Project management and phases of LNG project development Concept, planning, execution, transfer, operations - Front end loading - Conceptual study, FEED, FID - Engineering, procurement and construction - Operations Major project risk - Cost - Schedule - Performance Typical arrangements in LNG export projects Government HOA Production sharing contract and the gas clause Shareholder agreement Gas sales agreement: gas specs, deliverability, dedication of supply, make up rights SPA: take or pay, DCQ, ACQ, payment issue EPC contracting strategy Risk allocation between contractor and sponsor Execution strategy Financing: risk schedule and uncertainty Precedents of LNG financing Potential sources of financing Standards and principles of potential lenders Concept of project finance Project financing assessment Project risk analysis and risk mitigation Day 3 LNG market LNG competitiveness Atlantic basin and pacific basin Pricing mechanisms (Henry hub, national balancing point, Japanese crude cocktail) Destination flexibility Trends in the LNG industry of possible importance Worldwide natural gas consumption Worldwide LNG trade Traditional and new supply sources (East Africa, North America) Traditional vs. new participants in LNG development (small E&Ps, non-E&Ps) LNG exporting countries building now import terminals (eg. Indonesia) Portfolio trading as companies act as buyers and sellers Floating LNG Spot market and short term LNG market developments Regional trading hub Shale gas effect Fukushima effect Economic value of LNG Demand drivers for LNG utilisation Industry segments: power, transportation Regional demand: China, India, South America Supply side competition - Middle East vs. Australia vs. new supply sources Course summary and close
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