Day One

Evolution of market solutions:

• How the gas chain links the world and brings markets together.  Liberalisation – what do you need?

Gas and infrastructure price determination:

• How do we determine value and what the customer pays?  What are the big issues in price formation?  What is needed for true gas on gas competition?

Contractual frameworks:

• Oil indexation in European long term contracts.  The contract chain – the anatomy of a gas contract. Pricing a gas contract

The development of global gas demand:

• The history of growing gas penetration.  Power – the different power plants and power plant operation.  What influences the price of gas and power?

Regulation and liberalisation:

• What are the issues in different parts of the chain? Regulation, liberalisation and competition in gas – the theory.  Competition versus managed markets.  Market failure in the gas industry.  Regulatory frameworks, the “ideal” regulator and price regulation options

Day Two

Gas and politics in supply and consumption

• Access to resources – depletion policy and resource nationalism.  The politics of national champions, NOC’s and IOC’s.  Transit politics – key issues on transit pipelines.  NIMBYism

Europe overview

• The European gas trading area.  Supply and demand in Europe.  Where are the opportunities?  European storage capacity and import dependence.  Pipeline versus LNG – policy goals

North America overview

• Review of key markets (US, Mexico and Canada), supply sources both conventional and unconventional, pricing, regulation and infrastructure.  How LNG is linking North America to the global gas market and what implications this has today and into the future

Asia Pacific overview

• Market overview: Asian gas infrastructure, energy consumption, Asian gas flows.  The new energy titans – China and India.  Clash of export obligations and domestic demand in Indonesia.  Asia’s influence in the global gas market

Day Three

Gas Trading

• Location and value in natural gas.  How are geographic value differentials set internationally?  Why and how is gas traded against electricity and oil?

Gas trading in Europe

• Development of gas hubs. Signposts to a traded European market. The European trading area – a distant prospect?

Market structures, pressures and corporate strategies

• Generic strategies – ownership models in the gas industry and the fight for additional rent value in the chain.  Regulatory options and reactions