Gas Market Dynamics presents an in-depth study of today's natural gas markets. Details include the current market structure, the players and their functions in each market sector, today's supply/demand equation, gas transportation and storage options, how the marketplace may evolve, and the business strategies and decision-making processes of participants in each key market sector (see Course Content for details on the many topics covered). This seminar is highly interactive and stresses participation from all attendees through discussion and a number of market simulation exercises. Class size is limited to ensure personal attention for all attendees.

Course length

Two Days

Prerequisites

A general understanding of the natural gas business.

Who should take this course?
Professionals with a basic understanding of the natural gas business who need a comprehensive understanding of the dynamics of the marketplace:

• Previous participants in Enerdynamics' Gas Business Understanding
• Finance and accounting professionals
• Fuel buyers and sellers
• Generation planners and developers
• Legal professionals
• Pipeline account representatives and department managers
• Regulatory professionals
• Sales professionals
• Support functions for wholesale trading and risk management
• System operators
• Utility account representatives and department managers

What you will learn

This course will provide you with a solid understanding of the workings of the North American natural gas marketplace from supply to consumer. After this two-day seminar, you will understand the ins and outs of:

• How gas markets are structured and how they function
• The current state of gas markets
• How new Liquefied Natural Gas (LNG) developments will impact markets
• How natural gas prices are set and what affects price volatility
• Key principles of wholesale trading
• Key principles of retail marketing
• How risk is managed and portfolio value is determined
• And, what to expect for the natural gas industry in the future

You will also be prepared to evaluate risks and opportunities for your organization as well as for other market participants.

Registration fee

$1,290 (Save $200 - only $1,090 if paid three weeks prior to seminar). This fee includes continental breakfast, lunch and morning and afternoon breaks. The fee also includes course materials and a networking reception the first night.

Locations

Group discount

Attend this seminar with your workgroup and you can save up to 25%. For every three people from the same company who attend this course, the fourth is free!

Networking reception

At all two-day seminars we offer a hosted reception the first night which gives you the opportunity to network with colleagues in a casual and comfortable environment.

Satisfaction guaranteed

Enerdynamics believes its seminars and training programs are the best in the industry. We are proud to offer a money-back satisfaction guarantee: If for any reason you are not completely satisfied with your program, we'll gladly refund your entire registration fee. For more information regarding administrative policies such as complaint and refund, please contact us at 866.765.5432.

Cancellation policy

Registrations cancelled two weeks or more prior to the seminar date will receive a full refund minus a 10% administrative fee or a credit for 100% of the registration fee good towards any other Enerdynamics product. Registrations cancelled with less than two weeks notice but more than two days notice will receive a credit for 100% of the registration fee good towards any other Enerdynamics product. Registrations cancelled with less than two days notice are not eligible for refund or credit. Substitutions may be made at any time and without additional cost.

Course content

Gas Market Overview

• Natural gas units
• The physical system and market sectors
• Sources of supply
• Typical gas flows
• Pipeline and storage infrastructure
• Market hubs
• Natural gas demand
• Market structures and market participants

Liquefied Natural Gas (LNG) Markets

• What LNG is and why it’s important
• The LNG delivery chain
• LNG regulation, safety, security and public perceptions
• Global LNG infrastructure and trading
• Cost to develop an LNG project and deliver LNG to the U.S.
• Factors in financing an LNG project
• How prices and demand elsewhere in the world impact LNG supply to the U.S.
• LNG projects under construction
• Proposed additional LNG projects
• Potential future development of LNG in the U.S
  

The Current State of the Gas Market

• Current state of gas price levels relative to history
• Gas consumption history and forecasts
• Recent shifts in consumption – effects of electric generation and industrial demand destruction
• Gas production history and forecasts
• Key factors in determining production levels – drilling rates, success rates, shifts in production types
• Key factors in determining pipeline import levels – Canadian production, consumption, and storage
• levels
• Key factors in determining LNG import levels – terminal capacity, ship availability, liquefaction capacity, supply availability, prices relative to other markets
• Gas storage history and forecasts – what impacts the amount of gas in storage
• Key pipeline developments – recent projects completed, projects under construction, proposed projects
• The future of supply and demand
• The 5 regional markets – Northeast, Southeast, Southcentral, Midwest, West
• Details on each regional market – Infrastructure, market conditions, key factors in supply, demand, and price, possible future changes

Natural Gas Pricing

• Different gas prices
• Definition of price level and price volatility
• Historical view of price levels and price volatility nationally and regionally
• Basic concepts on what causes shifts in overall price levels
• Basic concepts on what causes short-term price volatility
  

Wholesale Trading

• What wholesale trading is
• Who wholesale traders are and why they trade
• Transaction segments (long-term, monthly, daily)
• Functions of a trader and how supply is contracted
• Risks associated with wholesale trading
• Use of various products to serve a supply portfolio
• Setting prices
• Trading business models
• Transaction examples
• Using pipeline transportation
• Creating value from transportation
• Using storage
• Creating value from storage
• Using hubs
• Summary of wholesale market and what is necessary for success

Retail Marketing

• The uniqueness of customers and retail markets
• Bundled versus unbundled markets
• Typical retail customer choices in an unbundled market
• Customer concerns and needs
• Typical services offered in unbundled markets including commodity and value-add
• Risks associated with retail products
• Covering retail sales positions by acquiring supply
• Pricing retail products
• Keys for success in retail trading
  

Value and Risk

• Definitions
• What risks are in the gas business
• How to describe value and risk
• Determining mark-to-market
• Measuring risk – determining VaR
• Measures beyond VaR
• Physical transactions and basic hedging techniques
• The concept of optionality
• Use of derivatives to hedge risk
• Use of value and risk in transaction and portfolio analysis
  

The Future of Gas Markets

• Factors to watch to understand market evolution
• Creating a vision for the future

CPE Credits

Enerdynamics Corp. is registered with the National Association of State Boards of Accountancy (NASBA), as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN 37219-2417. Web site: www.nasba.org

Upon completion, you will received 16 hours of CPE credit for this course.

Delivery Method

Group-live