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Essentials of International Gas Trading  

Petroleum Economist’s Essentials of International Gas Trading is an intensive four-day course, designed to give participants a comprehensive understanding of the way gas markets work and a practical appreciation of the principles, drivers and tools of trading in different gas markets. The course is built around an evolving gas trading game, where delegates compete in groups to manage a gas portfolio through OTC and exchange trading. The course begins by setting a context for natural gas markets, including world gas supply and demand, and changing gas market structures. Gas pricing and contracts are also covered. Day 2 focuses on the structure of gas trading markets with overviews of gas trading North America, the UK and Europe , and generic analysis of gas market structure and risks. Days 3 and 4 focus on trading tools and risk management, with practical application through the gas trading game. Other features include LNG markets and trading, trading in balancing markets and a look at the future of gas trading.

The International Gas Trading course gives an opportunity to take a wide view of gas trading, and to gain from the perspectives of players from around the world – recent delegates have come from various countries including the UK, Belgium, Italy, Norway, Sweden, Argentina, Trinidad, Qatar, Latvia, Algeria, Poland, Slovenia and Malaysia. The course is next being held in London on the 24-27 May 2005.

Programme  

DAY 1: 24 May 2005: The context of gas trading

0900-0930       Registration  

0930-1040       Characteristics of natural gas  

1040-1100       Coffee break  

1100-1210       World gas supply and demand  

1210-1230       Questions and discussion  

1230-1310       Lunch  

1310-1420       Gas markets and liberalisation  

1420-1530       Gas contracts  

1530-1550       Coffee break  

1550-1700       Gas pricing  

DAY 2: 25 May 2005: Gas market structures and risks

0900-1030       Overview of major European gas markets  

1030-1050       Coffee break  

 1050-1200 Gas market structure  

1200-1230       The North American gas trading market, part 1  

1230-1310       Lunch  

1310-1350       The North American gas trading market, part 2  

1350-1500       Gas market risks  

1500-1520       Coffee break  

1520-1630       The UK gas trading market  

1630-1700       Discussion and questions

DAY 3: 26 May 2005:         Risk management and trading simulation

0900-1010       Risk management

1010-1030       Coffee break

1030-1140       Gas trading markets in Continental Europe  

1140-1250       Risk controls  

1250-1340       Lunch  

1340-1440       Trading simulation: phase 1  

1440-1500       Coffee break  

1500-1550       Trading simulation: phase 2  

1550-1700       LNG markets and trading

DAY 4: 27 May 2005:         Trading review and outlook

0900-1010       Trading in balancing markets  

1010-1100       Trading simulation: phase 3  

1100-1120       Coffee break  

1120-1220       Trading team presentations and review  

1240-1340       Lunch  

1340-1450       The future of gas trading  

1440-1500       Close and coffee