LNG Markets: Trading, Marketing, Hedging & Risk Management

Agenda

Day One

  • State of the Global LNG markets

    • Global Trade
    • Short term/ spot trading
    • Global Prices
    • Liquefaction Plants
    • New liquefaction frontiers
    • Receiving Terminals
    • Floating regasification
    • Shipping Fleet
    • Small Scale LNG
    • Position Natural gas in global energy mix

    Future Scenario Global LNG Market

    • Beyond 2015; What’s next
      • Mid term
      • Long term
      • Expect the unexpected
      • Impact widening Panama Canal
      • Australian vs. US exports
      • Impact shale gas US and China
      • New importing countries in Southeast Asia

    LNG Trading Markets

    • Global Gas Price Linkage
    • Henry Hub vs. NBP
    • System Dynamics
    • Asian LNG Markets
    • Australia vs. US exports
    • Impact widening Panama Canal
    • Developments Latin American Markets
    • LNG quality issues
    • Quality requirements major markets

    LNG Trading Arrangements

    • Evolution of LNG pricing and flexibility
    • Key Challenges contracting LNG supply
      • Identifying uncertainty
      • Contract pricing
      • Impact LNG on European Hubs
      • US export implications
      • Monetizing supply contract value
      • Flexible Portfolios
      • Long term vs. short term contracts
      • LNG Contracting structures
        • SPA Master agreements
          • EFET
          • GIGNL
          • AIPN
    • Confirmation Notice
    • Shipping Incoterms
      • FOB
      • DES/ DAT
      • CIF

    Small Scale LNG

    • Niche LNG
    • Fuel for truck and ships
    • LNG as shipping fuel trends

Day Two

LNG Shipping Market

  • Fundamental drivers
    • Shipping Capacity
    • Shipping types and costs
    • Cargo routes
    • Reloading
    • LNG shipping economics
    • Spot Charter Rates
    • Getting to grips with LNG shipping costs
    • Trends LNG Shipping Markets
      • FOB vs. DES
      • Role Japan and China
      • Tankers size and distance covered

Asian LNG Spot Market

  • Dynamics of Asian LNG spot market
    • Supply surge, new entrants and shifting demand patterns
    • Traditional players; South Korea ,Japan and Taiwan
    • New big players; China and India
    • Other regional players; Thailand, Vietnam etc.
    • Role Singapore and Shanghai as potential future trading hub
    • Entrance new financial players
    • JKM Index
    • First LNG Swaps
    • Practical Examples how markets work
      • Demand Japanese utilities
      • KOGAS from South Korea
      • Taiwan and Thailand
      • Spot Trade agreements
      • Outlook Asia LNG Spot markets

Flexibility in Contracts: Arbitrage

  • Arbitrage Opportunities
    • Diversions and reloading
    • Potential players involved in arbitrage deal
      • Seller
      • Initial buyer
      • Trader
      • Playing the spread game
      • LNG Spread Asia vs. Europe
      • Future role US liquefaction capacity
      • Impact on pricing

Dealing with Risks in LNG Trading

  • Risks for different players in LNG value chain
    • Producers
    • Traders
    • Buyers
    • Power Companies
    • Main Risks
      • Market, credit, operational, legal and regulatory risks
      • Managing geographical risks
      • Risk Management Framework