Gas Storage-1 Issue

March 2007

	mWELCOME
	mSTORY
	mTRAIN
	mPRICES
	mPHASIS!
	mPATHY
	mFEATURE

Download printable pdf
Gas storage – the reasons and the means

Although gas storage facilities have been an integral part of the gas supply system for over a hundred years, gas market liberalisation and the emergence of volatile spot market prices for gas in Europe, as well as increasing import dependency, are encouraging significant investment in new gas storage facilities across Europe, and particularly in the UK. This article explores the why and how gas can be stored. Next month we will look gas storage markets and a number of key gas storage projects in Europe.
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mWELCOME

Hello and welcome to the March issue of MZINE, our free monthly e-newsletter.  

 This month we commence a two part article on Gas Storage, see MSTORY for part one. MPRICES  looks at the spot Oil Forward Curve, whilst at MPHASIS Derek offers his misinterpretation of distributed generation! Don't forget to check out our thought of the month at MPATHY. As an afterthought we have a special report about the UK government at MFEATURE.

Our public course dates for 2007 have now been published and can be seen at http://www.energytrainingnetwork.com/public_courses.htm  The next few months can be found at MTRAIN. If you were unsure whether or not to come on our Gas Storage course on the 21st February well, it's been and gone, but after a full house, we have decided to run it again on 9th May. If you want to come, book your place, they fill up fast!

Please feel free to contact me about this newsletter and let me have your thoughts, what you like and don't like, I am open to your suggestions.

And if you have enjoyed reading this newsletter and think you know someone who might also enjoy it then feel free to forward it on.

Kind regards.

Paul Cassar
Editor

mTRAIN

All of our training courses can now earn, participating solicitors, CPD points from the law society. Attendance at any of our events may also contribute to meeting accountancy CPD requirements under the terms of the ICAEW’s CPD policy. Please visit www.icaew.co.uk/cpd for the ICAEW's CPD policy details.

Over the next few months the following one-day events are being held in London, UK. For an at a glance view of our 2007 public training dates please visit:
http://www.energytrainingnetwork.com/2007_pcg.htm

More information about these courses can be found by clicking on the course title or visiting energytrainingnetwork.com and clicking on public courses. Alternatively you can contact me by email or phone +44 (0) 1235 553917, fax +44 (0) 1235 553917.

Any of our public courses can be held at your location, for your company, or they can be tailor made to your requirements. If you want to find out more contact our Training Manager Nick White  +44(0) 1235 211161 and get ahead of the rest.

* New for 2007 *

UK gas and power overview 

This one-day course provides a clear overview of the UK gas and electricity industries and is an ideal introduction for staff without a background in the energy sector. The course addresses the basic principles and key commercial realities of the UK energy markets.

Introduction to energy

• Types of energy
• Energy units
• Energy markets

Physical gas market

• What is gas?
• Where and how is it produced?
• How is it transported?
• Gas demand

Physical electricity market

• What is electricity?
• How is it produced?
• How is it transported?
• Electricity demand

UK energy players

• What are the markets?
• Supply competition
• Overview of major players
• Players and strategies

Commercial energy market overview

• Transportation and industry codes
• Balancing and storage
• Regulation
• Trading
• Energy prices

Future energy

• Power generation futures
• Gas supply and demand forecasts

Priced at £500 + VAT per delegate, this course will run in London on 2nd May 2007. To book your place click here.

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mPRICES
Forward Oil Curve

Colder weather in the US, lower OPEC output and non-OPEC project delays prompted a recovery in oil prices this month. Longer-term prices are back above $60/bbl with nearby prices trading at around $58/bbl. The curve remains in contango as US crude stocks are still above historical norms, but the prompt discount is narrower with lower stocks at Cushing in PADD II, the delivery point for the Nymex light sweet crude contract. Lower heating oil stocks are also providing support for prices after cold weather forced a sharp draw.

Tension over Iran, improved OPEC compliance and downward revisions to forecasts of non-OPEC supply lifted price expectations this month, as the strong downward pressure eased. With lower stocks and a rising call on OPEC crude, the market is once again taking a more bullish view. The balance of Calendar 2007 WTI is just over $60/bbl – 60 cents above Brent – or $56/bbl for the OPEC Basket.

CGES Monthly Oil Report, 19 February 2007 www.cges.co.uk

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mPHASIS!
for the lighter side of life!

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mPATHY
thought of the month

Sometimes you move publicly, sometimes privately.

Sometimes quietly, sometimes at the top of your voice.

And sometimes an active policy is best advanced by

doing nothing until the right time - or never.

James Addison Baker III

mFEATURE

UK government criticized over its own carbon emissions

Despite various pieces of free consultancy cunningly disguised as cartoons for the amusement of our readers, the UK government have still been unable to meet carbon, waste and water targets.

It appears that in a report from the Sustainable Development Commission the UK government departments are not on track to meet the carbon reduction target of 12.5% by 2010. On average, departments have reduced carbon emissions by 0.5% since 1999. However, 15 departments have increased carbon emissions since 1999. Most departments are using energy less efficiently than they did in 1999. Departments generated more waste than last year.

So we thought that we would give them a helping hand and remind them how they could reduce their emissions targets:

And just in case they missed it last month, this should help with their targets even further

if you wish to read the report mentioned above, it can be viewed at;http://www.energyforum.com/news/news_archive/2007/w10/7b.php  

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MJMENERGY LTD have provided all the information in this newsletter free of charge to anyone who wishes to read it. We cannot be held responsible for any inaccuracies although all information is believed to be correct at time of publication. Whilst articles published in this newsletter often carry a particular  point of view, publication of them does not imply that we necessarily agree with them. Anyone wishing to contact the editorial team with regards to any of the above articles should email: editor@mjmenergy.com, or phone +44 (0) 1235 553917

Copyright © 2007, MJMENERGY LTD. All rights reserved (but feel free to copy, post, quote, think about or forward on)