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Executive Training - Global Gas and LNG Markets: Contracting and Pricing

Date: Wednesday, 18 January 2023, 10 AM - 5 PM

Venue: TUSIAD, Avenue des Gaulois 13, Brussels 1040



Global Gas and LNG Markets: Contracting and Pricing


In-person event


Overview

During this highly specialized interactive one-day training workshop, we have looked at all main aspects of the global and European LNG markets, with a focus on contracting, pricing and shipping. The workshop addressed LNG supply and demand; LNG contracting issues (including how the contracting model has changed drastically since 2019); long-term Vs. hub purchasing; issues of gas and LNG pricing; the difference between various export and import markets; the impact of US LNG exports in 2016 on the global market; the impact of the war in Ukraine on the gas and LNG market. We also looked at LNG shipping and the development of offshore technologies such as FSRUs and FLNG.


Why participate in this program

Commercial transactions in the global gas and particularly LNG markets are becoming evermore complex with compounded financial and legal risks. As the entire value chain of LNG procurement is becoming more complicated, a thorough understanding of contracting and pricing in global LNG markets remains a key determinant of commercial success.


In 2023 Europe will continue to be one of the key players on the global LNG market and it is becoming more pertinent for European policy experts to understand this sector.

This short yet comprehensive training course was designed to enable energy professionals to come to grips with the key drivers of price determination and contract structures in the global LNG trade.

Course participants took away a sound understanding of LNG contract negotiating positions, allowing them to make the right decisions on sourcing and negotiating on future contracts from a position of strength and knowledge.


Benefits of attending and key takeaways

  • Interactive learning experience of global LNG market structures

  • Gain a profound understanding of LNG transactions between buyer and seller

  • Develop deep insights into the operational, commercial and legal basis of LNG contracts

  • Obtain an appreciation for pricing principles and price indexation in competitive global LNG markets

  • Glance into techniques of LNG contracting negotiation

  • Grasp pricing methods and determining factors for LNG and gas markets

  • Mitigate against geopolitical and other risk factors in LNG procurement

  • Ultimately, make better and more competent decisions in the energy trade


Core features

  • Four core LNG learning modules packed into one intensive day of training

  • Instruction and high-level expertise from one of the top international gas experts

  • A fully interactive training with open discussion and plenty of time for questions

  • Dynamic and international learning environment in the heart of Brussels

  • Strong networking opportunities with other energy professionals

  • Brussels Energy Club Training Certificate upon completion of the program



Program structure

9.30-10am: Registration and morning coffee

10.00-11.30am:

Module 1: LNG market supply and demand

  • LNG supply and demand in the current global and European markets

  • Structural change in the market since the onset of US LNG exports

  • The impact of the war in Ukraine on the gas and LNG markets

  • Where does Europe stand: pipeline gas Vs LNG

  • Short to medium term outlook for European energy prices: the role of LNG

  • Interactive group discussion

11.45am-1.15pm:

Module 2: LNG contracting

  • LNG contracting issues and strategies

  • Model LNG sales and purchase agreements

  • Core changes in the LNG contracting model since 2019

  • Drivers of change in the contracting model

  • Long term contracts Vs hub purchasing

  • Gas market laws and regulations

  • Force major and penalties

  • Resolving disputes

  • Interactive group discussion

1.15pm-2pm: Luncheon

2pm-3.30pm:

Module 3: Gas and LNG pricing

  • Gas and LNG pricing structures and key terminology

  • What determines the price of gas and LNG

  • Why is gas priced in this way

  • Long term pricing Vs spot and hub market pricing

  • Data on global gas price formation

  • LNG netback and LNG indexation

  • US LNG and pricing formula

  • Geographic import and export markets: key variations

  • Interactive group discussion

3.45-5pm:

Module 4: LNG shipping and new technologies

  • LNG shipping and supply chain infrastructure

  • Shipping costs: Atlantic and Pacific basin comparisons

  • The development of offshore technologies

  • FSRUs and FLNGs

  • Interactive group discussion

5-5.15pm:

Presentation of Brussels Energy Club Training Certificates

5.15-5.30pm: Family photo with all participants

5.30-7pm: Networking reception for all participants



Gina Cohen



Ms. Gina Cohen

Lead Trainer




The training was led by Gina Cohen, gas markets analyst and consultant with more than 25 years’ experience with the industry.

Gina Cohen has been working as a natural gas analyst and consultant in the Eastern Mediterranean since 1998, with a focus on Israel, Jordan, Cyprus, Turkey, Egypt and the Palestinian Authority. She has been involved in projects spanning the full natural gas chain: from exploration and field development; gas legislation and regulation; gas sales and purchase negotiations; independent power generation and FLNG projects; permitting and regulatory issues. She is a university lecturer, lecturing on natural gas law, economics, commercial, strategic thinking and geopolitics, and frequently speaks at and/or monitors international oil and gas conferences.

Ms. Cohen is the author of the Hebrew-English energy lexicon published both on the internet and in book form and of the book published by the Institute of Energy for South-East Europe entitled “Long Term Gas Contracting - Terms definitions, pricing, theory and practice”, and frequently writes articles in the Israeli press as well as in international professional gas journals. All articles and interviews, including TV interviews can be found on Gina’s website https://www.hebrewenergy.com/publicatons-by-gina/


Registration and payment information

Registration and payment of the training program fee were required for participation in this event.

The training program fee was EUR 850 per participant.

The fee included all course materials used by the trainer in PDF format (including notes and web links), coffee breaks, luncheon, evening networking reception, and the Brussels Energy Club Training Certificate. Course materials included an in-depth presentation on LNG contracting and pricing, as originally produced by the course trainer, with more than 300 hours of preparation time included.


The training catered to a maximum of 25 participants in order to allow for group interaction and discussion.


Participation was free of charge for Brussels Energy Club Members, as well as Members of the BREC Advisory Board. Group discounts were available to BREC alumni.

Participant testimonials


Olexandr Laktionov (Naftogaz of Ukraine):


"Excellent event, amazing speaker with presented material and perfect organization of the event impressed me!

Hope that new knowledge and established contacts will be helpful for further cooperation."


Giorgia Manno (BP):


"Gina Cohen is an impressive speaker. Passionate about the topic, very knowledgeable and very clear. She involved all the participants making the training interactive and full of content. Thank you very much, I really enjoyed it."


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