Gas Market Dynamics

Upon completing Gas Market Dynamics, you should be able to analyze and understand the inherent risk and the available opportunities in gas markets and be able to determine the potential business opportunities in those markets for various market participants. Specific areas of knowledge include:

• The various market structures that exist and the roles of various participants in each structure
• Concepts of supply and demand and how gas prices behave in various market structures
• The supply, transport and storage services offered in gas markets
• Types of markets including bilateral, electronic exchanges, and utility, and details on how each market works
• Strategies participants use in electric markets

This knowledge will empower you to make better business decisions based on your own company's activities and to better interact with market participants who do business under the various market structures.

Quantity:

Li Europan lingues es membres del sam familie. Lor separat existentie es un myth. Por scientie, musica, sport etc., li tot Europa usa li sam vocabularium. Li lingues differe solmen in li grammatica, li pronunciation e li plu commun vocabules. Omnicos directe al desirabilitá de un nov lingua franca: on refusa continuar payar custosi traductores. It solmen va esser necessi far uniform grammatica, pronunciation e plu sommun paroles.

Ma quande lingues coalesce, li grammatica del resultant lingue es plu simplic e regulari quam ti del coalescent lingues. Li nov lingua franca va esser plu simplic e regulari quam li existent Europan lingues. It va esser tam simplic quam Occidental: in fact, it va esser Occidental. A un Angleso it va semblar un simplificat Angles, quam un skeptic Cambridge amico dit me que Occidental es.

Quantity:

Introduction

• Course objectives
• Gas units

Gas Markets Structures and the Roles of Market Participants

• What is a gas market?
• The differences between monopoly and competitive markets
• The key physical characteristics of natural gas that affect how markets function
• The 4 sectors of market participants (upstream, midstream, downstream, consumer)
• Bundled vs. unbundled service
• Supply choice for various customer classes in North America
• Gas market structure for commodity and transport/storage
• Market hubs

Principles of Gas Supply and Demand

• Short-term and long-term factors that drive gas demand
• Concepts used in evaluating demand (baseload demand, average demand, peak-day demand, load factor, annual load profile)
• Residential gas use (specific uses for gas and characteristics of gas demand)
• Commercial gas use (specific uses for gas and characteristics of gas demand)
• Industrial gas use (specific uses for gas and characteristics of gas demand)
• Electric generation gas use (specific uses for gas and characteristics of gas demand)
• How weather affects demand
• How storage activity affects demand
• Key factors driving gas supply in the short term
• Sources of U.S. supply
• Major North American supply regions
• Reserve to production ratios
• The North American transmission pipeline system
• North American storage facilities
• Key factors driving gas supply in the long term
• New potential supply sources (Alaska, Mackenzie Delta) and issues with their development
• Pipeline and storage expansions
• LNG as a supply source (proposed and constructed terminals, pricing)
• How gas is priced throughout the value chain
• The forward price curve
• Historical U.S. gas prices
• Long-term factors affecting gas prices

Gas Services and the Markets They Trade In

• Bilateral markets
• Electronic exchanges
• Tariff markets
• Gas supply (forward, spot)
• Transportation services (firm, interruptible and the secondary market)
• Storage services (injection, inventory, withdrawal) and levels of service available (firm, interruptible)
• Balancing services and rules
• How flow orders are used to maintain system integrity
• Market hubs and the services they provide (wheeling, parking/lending, peaking gas, balancing, title transfer, hub-to-hub transfer)
• Which services trade in which markets?
• How pipeline and storage transactions are scheduled
• Structuring of supply, transport and storage agreements
• How and why prices change as gas travels through the value chain
• Price differentials across the U.S.
• Transportation pricing
• How storage and hub services are priced
• Retail commodity pricing and structure
• Contracts
• The North American Energy Standards Board (NAESB) and its role

Market Strategies for Key Gas Industry Players

• The 2 paradigms for business in gas markets (regulated vs. competitive)
• The relationship between earnings and the level of risk required to achieve them
• Risks inherent in the gas business (price, basis, volume, counterparty, execution, operational, regulatory, legal)
• Physical tools used to manage risk (pricing, take obligations, firm/IT transport, storage, balancing provisions, hub services, internal procedures, portfolio hedging)
• Market strategies for Local Distribution Companies (LDCs)
  • Goals
  • Key risks
  • How regulated prices are set in the rate case process
  • How LDCs create earnings
  • How LDCs increase earnings
  • How decoupling affects earnings
  • How pipeline and storage facilities create earnings
  • How LDCs, pipelines and storage facilities use markets
  • How LDCs, pipelines and storage facilities handle key risks
  • The key skills necessary for LDC, pipeline and storage facility success
• Market strategies for Gas Producers
  • Goals
  • Key risks
  • How producers create earnings
  • The markets used by producers to sell supply
  • How prices are determined
  • How producers increase earnings
  • How producers handle key risks
  • The key skills necessary for producer success
• Market strategies for Wholesale Marketers
  • Goals
  • Key risks
  • Wholesale trading strategies
  • How wholesale marketers create earnings
  • How wholesale marketers increase earnings
  • How prices are determined
  • How wholesale marketers handle key risks
  • The key skills necessary for wholesale marketer success
• Market strategies for Retail Marketers
  • Goals
  • Key risks
  • Retail marketing strategies
  • How retail marketers create earnings
  • How wholesale purchases are optimally matched to retail sales
  • How an appropriate price is determined
  • How supply and sales commitments are structured and why this is critical
  • Selling value added services
  • How retail marketers increase earnings
  • How retail marketers handle key risks
  • The key skills necessary for retail marketer success

Quantity:

You may view this course as many times as you wish during the license period (45 days for a full-length course and 15 days for a short course). However, you may not share access to the course with anyone else. Enerdynamics will not be liable to you, or to anyone who may claim any right due to a relationship with you, for any acts or omissions in the performance of services under the terms of this license unless such acts or omissions are due to willful misconduct. With your purchase and/or use of this course you are accepting the terms of this license agreement.

Quantity:

This Enerdynamics online training product has been uniquely designed to offer the best value in the business. With your purchase, you will receive:

• A 45-day single user subscription (15 days for short courses) to the course: view the course material as many times and in any order you like during the subscription period.
• E-mail access to Enerdynamics: feel free to ask any questions relevant to the course material.
• Professional audio and animated content developed by experienced education professionals: this is not a page turner!
• Online exercises and interactions: designed to cement your understanding.
• Reference materials: a list of acronyms and a glossary that you can view online with your course.
• Expert instruction: this course was developed by professionals with decades of energy experience in the industry.
• Full-color presentations: our seminars are carefully designed for maximum impact and interest.
• Learn anytime and anywhere: wherever you have Internet access.
• Your satisfaction is guaranteed: so you have nothing to lose!

Quantity: