Supporting the gas industry since 1863
Date19th April 2018
Time09:00 - 16:30
VenueIGEM House, Kegworth
Price £305.00 (Members) £405.00 (Non-Members)
All prices exclude VAT
Location

IGEM House, High Street, Kegworth, Derbyshire, DE74 2DA

Contact Details:

Linda Mee email events@igem.org.uk tel 01509 678184

IGEM Technical Training course
About The Event
Introduction to the UK Gas Market

Description

This course will provide you with knowledge of the gas industry in the context of the wider energy and utilities sector to enable you to be more effective in your role.

The UK has one of most the liberalised gas markets in the world, and has seen dramatic development since privatisation. Facing great uncertainty over future demand and supply, the UK gas market has become a key part of the global interaction of pipeline gas and LNG supplies, and the National Balancing Point (NBP) gas price, set in the UK, a key global pricing factor. Plugging the increasing UK 'gas gap' as the market evolves will affect all aspects of marketing, buying and selling gas to get the best possible price.

Besides describing the whole UK world of gas and how it works, the course will cover coping with the un-predictables, like the weather, future consumption patterns and the imperative of trading in gas supplies, explaining how these factors form NBP prices.

Outcomes

•Understanding nature, composition and availability of natural gas
•Develop understanding and application of the technical, commercial and regulatory factors in the gas industry
•Confidence in understanding jargon and specific gas issues
•Understanding of gas market competition and how companies and regulators interact
•Appreciate gas pricing, trading and gas price volatility

Course details

The physical gas market
• Introducing natural gas
• Its characteristics, measurement and storage
• Global context – where does it all come from?
• UK gas production and imports
• Gas transportation
• Gas consumption and the dilemma of matching supply and demand

Market fundamentals and price behaviour
• Seasonal and unpredictable demand
• Role of weather and economic and social issues
• Long pipelines, contract terms
• Balancing and storage
• Gas price behaviour
• Structure and trading instruments
• Supply and balancing
• Exploiting assets
• Arbitrage and risk management
• Supply margins and hedging/speculation

Overview of the commercial gas market
• Commercial market structure: upstream, midstream, downstream
• What is the NBP?
• Customers and supply competition
• Shippers, transportation and the UNC
• Storage and trading
• Upstream players and processes
• Regulators and regulation

The gas balancing game
• The interactive gas balancing board game helps delegates to experience the challenges of balancing supply and demand, and making money, in the context of changing weather and an uncertain, competitive market

Instruments and trading strategies
• Motives for trading
• Hedging strategies
• Trading instruments: OTC and exchange, forwards and futures
• Mark-to-market
• Hedging gas supply costs
• Hedging seasonal demand
• Storage cost and value


Bookings for this event are no longer available.