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COURSE: LNG Trading and Hedging

13-15 March 2018, ICE Education, London, UK

PROGRAMME:



DAY 1 


- What are the Long-Term Prospects for LNG?

- Summary of the state of LNG industry and what to expect in 2018?

- A forecast of the outlook for LNG supply and demand over the period to 2030

- US LNG and potential competitivity in Europe 

- LNG Project economics: the timeline, level of effort and cost and progression

- LNG Sale & Purchase Agreements

- Negotiate about key terms in the LNG Sale and Purchase Agreements

- Annual Delivery Programmes (ADP) of LNG Plants

- LNG shipping arrangements, fleet and costs

- Purchase/charter options

- Vessel operating costs, design and technical considerations

- Calculating shipping requirements

- LNG carrier demand and supply trends, and impact on charter rates  


DAY 2


- Global LNG market developments

- Current supply/demand picture

- Sunk costs for capacity holders (tolling fees, liquefaction costs)

- Mechanics of LNG trading, shipping and operations (practical approach)

- How is trade facilitated

- Timing of deliveries

- Volume losses/ BOG (boil-off gas)

-The shipping market

- Chartering vessels

- Vessels classes and sizes and terminals capability to receive vessels

- Fixed vs floating pricing

- LNG Trading Opportunities

- Arbitrage

- Selling to end users

- Building a long or short position

- Tenders

- LNG SWAPS


DAY 3


- Risk management and forward curves

- Constructing an LNG forward curve

- Managing the risk within an LNG portfolio

- Optimising risk vs reward

- S-curves (types and peculiarities)

- Brent (3;0;1) or (3;2;1) or other formulas for pricing

- The use of financial instruments in LNG hedging 

- Different types of paper instruments

-  Paper hedging techniques

- Hedging S-curves structures in LNG contracts

- Advanced trading and pricing strategies

- Portfolio effect

- Optionality at terminals

- Contract optionality

- Sophisticated hedging strategies/Pricing opportunities

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