Gastech Issue

December 2006

	mWELCOME
	mSTORY
	mTRAIN
	mPRICES
	mFEATURE
	mPHASIS!
	mPATHY
	mOFFERS

Download printable pdf

Gas and Oil Tame the Desert! 

Abu Dhabi National Oil Company (ADNOC) hosted the 22^nd Gastech Conference and Exhibition at the Abu Dhabi International Exhibition Centre in Abu Dhabi during 4^th – 7^th December 2006 which coincided with Abu Dhabi’s celebrations of 35 years of national freedom. 

Little more than sand and sea thirty five years ago, Abu Dhabi is now a spectacular city, well worth a visit, and succeeded in showing of its vast wealth and resources to the Gas Industry, where, at the opening ceremony we were treated to the delights of the Emirates Palace in all its vastness and splendour. Tea and coffee were served in a huge reception hall, giving delegates a chance to catch up with old friends and acquaintances from all over the world. We were slowly ushered into the equally vast and sumptuous ballroom for the opening speeches. Translators were available as the opening speeches commenced after a recital from the Quran.  
Read the rest of this article

mWELCOME

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

First and foremost, MJMEnergy would like to wish all our MZINE readers a very Merry Christmas and a happy and prosperous 2007.

After an exhausting start to the month we thought we would give you a little taste of Gastech see MSTORY for our main article. MPRICES  looks at the spot Oil Forward Curve, whilst at MPHASIS the joke is on the delegates of the most successful Gastech to date! Don't forget to check out our thought of the month at MPATHY.

Our public course dates for 2007 have now been published and can be seen at http://www.energytrainingnetwork.com/public_courses.htm  The first three months can be found at MTRAIN. Last winter we saw the gas war between Russia and Ukraine, as Russia cut gas supplies at the coldest time of the year. Are we going to see the same thing happen to Belarus? See the story at  MFEATURE

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. 

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 nick@mjmenergy.com +44(0) 1235 211161 and get ahead of the rest.

* New for 2007 *

Gas storage overview

As the UK and Europe as a whole become increasingly dependent on gas imports and as trading markets develop, gas storage is becoming an increasing important tool for players in the liberalising markets of the UK and Europe. This one-day course provides an overview of the key issues in gas storage, including the rationale for storage, technologies used, storage services and regulation, storage projects and the crucial question of how to value storage in the competitive market.

Why store gas?

• Supply / demand match

• Load duration curves

• Balancing needs

• Security of supply/strategic security

• Pipeline optimisation

• Trading opportunities

Gas storage technologies and facilities

• Injection, withdrawal and space

• Salt cavity, depleted fields and aquifiers, LNG, mines etc

• Overview of storage facilities and operators in Europe

How storage is sold

• Storage models

• Regulation and third party access

• Contract structure

• Storage on the market

Discussion and questions and answers
Building storage – storage projects

• Techical and engineering issues

• Consent and planning

• Project structure

• Overview of current projects

Case study – A storage project
Storage economics

• Valuing flexibility

• Alternatives to storage

The future of storage

Priced at £500 + VAT per delegate, this course will run in London on 21st February 2007. To book your place click here.

top

mPRICES
Forward Oil Curve

THE FORWARD CURVE

Sharp falls in US product stocks and growing cuts in OPEC crude supply are supporting higher price expectations throughout the forward curve. However, the front end of the curve is still in deep contango. Extended refinery maintenance swelled US crude stocks this autumn, especially at Cushing where rising Canadian imports helped raise inventories to record levels this month. Refined product stocks are down sharply, falling by 65 mn bbls (0.9 mbpd) so far this quarter as turnarounds coincided with a surge in gasoline and distillate deliveries.

Longer-term prices firmed despite OPEC’s fears of an over-supplied market. Although non-OPEC supply is predicted to rise sharply next year, the market expects OPEC to keep the balance tight, reducing output to accommodate any reduction in the call on OPEC crude. Calendar 2007 WTI is back over $66/bbl – 20 cents above Brent, equivalent to $61/bbl for the new OPEC basket of crudes.

CGES Monthly Oil Report, 18 December 2006 www.cges.co.uk

top

mPHASIS!
for the lighter side of life!

top

mPATHY
thought of the month

There is a great man who makes every man feel small. But the real great man is the man who makes every man feel great.

Charles Dickens

top

mOFFERS
this month's exciting offers!

As a special thank you to all our readers we would like to offer you this free Conversion chart which you can print off and carry with you wherever you go.
Download pdf

LNG Today:2004 edition
As relevant today as the day it was written, this timely report is on offer to MZINE readers for just £200! A Christmas special to our customers. Just type MZINE in the 'notice to us box' to claim your discount!

Valid until 31/12/06
Click for more information or to order your copy.

top

mFEATURE

Belarus fails to cut Russian gas price

By Upstream staff 

Russia has brushed off attempts by Belarus President Alexander Lukashenko to lower the price of gas supplies.

While no details of the meeting were available, Reuters quoted Kommersant correspondent Andrei Kolesnikov as saying that Lukashenko flew back home empty-handed having failed “to drag Russian-Belarus relations out of the dark abyss”.

Gazprom wants to raise gas prices for Belarus to over $200 per 1000 cubic metres from around $46 per 1000 cubic metres now. The company has said it would accept a share in Belarus's local trunk pipelines to guarantee lower prices in 2007.

Last year, Gazprom briefly cut supplies to neighbouring Ukraine and gas transit to Europe in a similar pricing dispute and amid tense political relations with Kiev.

Gazprom supplies 25% of Europe's gas needs or around 150 billion cubic metres, of which over 100 Bcm go via Ukraine.

About 30 Bcm per year is supplied via Belarus for customers in Poland and Germany.

“This article, which is protected by copyright, was originally published on 18 December 2006 by UpstreamOnline.com, the electronic news service of the global oil & gas newspaper Upstream.” www.upstreamonline.com

top

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 © 2006, MJMENERGY LTD. All rights reserved (but feel free to copy, post, quote, think about or forward on)