Last Month we took a look at how wind turbines are being used to produce electricity and their contribution to 12% power generation by 2010 in Europe and 10% in the UK . We also listed other forms of renewable energy sources and so, following the theme, this month we will take a look in a bit more detail at other contributors to the renewable energy sector.

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mWELCOME

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

This month we continue our theme on alternatives to fossil fuels see MSTORY for our main article.  We have two feature articles this month at MFEATURE. David gives us his expert opinion on the future trend of Oil pricing and we have the latest from Heren's ESGM on the NLNG crisis. MPRICES  looks at the spot Oil Forward Curve, whilst at MPHASIS Derek has designed the car of the future. Don't forget to check out our thought of the month at MPATHY, and our latest list of training courses at MTRAIN, including our road show, where we take our most popular training courses to Aberdeen. 

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

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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 Oxford, England, apart from our roadshow, where we take our popular courses back to Aberdeen in October. 

**Are you concerned about the price of Oil?**
Check out our Global Oil Market course and discover what makes the price of Oil.

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) 1865 395826, fax +44 (0) 1865 395959.

Did you know that any of our public courses can be held at your location, for your company? As they are, or tailor made to your requirements. If you want to find out more contact our Training Manager Nick White nick@mjmenergy.com +44(0) 1235 211161 and get ahead of the rest.

OTHER DATES

Course Review

Network Code Introduction  

On the 1^st May 2005 a dramatic shift occurred in the UK gas transportation industry as  Great Britain moved from a single main transporter to a multi-transporter regime. The Network Code was replaced by the Uniform Network Code and a Short Form Codes from each of the new network operators. On 1^st June 2005 the sale of four of Transco’s distribution networks was completed. The Energy Training Network’s Network Code Introduction one-day seminar has been fully updated to provide an overview of the new regime, with explanation of how it all works together to create a transportation framework for gas in Britain.  

mPRICES
Forward Oil Curve

Resilient demand growth, downstream refinery constraints and flagging non-OPEC supply are driving oil prices ever higher. Oil markets are now wondering just how high the price has to go to keep demand within the limits of what the industry can supply. Although demand growth is slowing and central bankers are worried about the impact of high oil prices on the global economy, the absolute level of demand is still rising, keeping up the pressure on tight capacity while investment lags behind.

High crude stocks are keeping the WTI forward curve in steep contango as the winter heating season approaches, but concerns over low sulphur middle distillate supplies are supporting outright prices at record levels. Strong demand in June and July quickly eroded US gasoline stocks and capacity constraints threaten the same for distillates this winter. Calendar 2006 WTI is close to $65/bbl – equivalent to $63/bbl for Brent and over $58/bbl for the new OPEC basket of crudes.

Monthly Oil Report, 22 August 2005 reproduced with kind permission of CGES www.cges.co.uk

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mPHASIS!
for the lighter side of life!

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mPATHY
thought of the month

"Make it a habit to do nice things for people who’ll never find out."

- Life’s Little Instruction Book

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mOFFERS
this month's exciting offers!

Attend the UK Gas Market introduction one-day seminar and then attend The Network Code for half price! If you have already attended our UK Gas course and would like to come on the Network Code course then you too can come for half-price. If this interests you, let me know.

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mFEATURE

Is this the end of an era?

Are high oil prices here to stay? The answer is probably yes. Demand growth remains strong despite a doubling of the oil price over the past eighteen months. And supply is constrained by capacity bottlenecks upstream and downstream. After twenty-five years in which the industry has struggled with the problem of surplus capacity, the oil market is now being driven by the over-riding need for more investment rather than cost minimisation.

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Cargoes for Europe at risk after fire cuts Nigeria LNG output  

LNG exports from Nigeria have been severely hit by a fire on the main gas supply pipeline, Nigeria LNG said this week.
Since 26th August output has been cut by two thirds and possibly halted completely, according to other reports. Full production should resume in three weeks, said NLNG. “Production of LNG at the Bonny plant had been severely affected due to non availability of the pipeline, causing the company to declare force majeure,” the company said.

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