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The 21 st century has been coined the century of gas. The course will address the
technical and economic factors that have driven and will drive the development of
natural gas reserves through the delivery of gas to an end user by means of an
integrated gas project. The range and role of relevant parties to a successful gas
project are described. Actual case histories will be used frequently to demonstrate
learning points. An introduction to terminology and “rules of thumb” should further
enhance participant’s ability to contribute to a successful gas project – or to ask the
right questions to test and improve the viability of a proposed project. Gas and LNG
project development executives are drawn from both technical (E&P geoscience and
engineering) and non-technical (commercial, finance and legal) backgrounds, but
this course assumes no particular expertise. Participants who have recently joined a
gas market development team, and those from banking or legal firms, or the public
service (regulatory, trade or diplomatic) should benefit from the course.
Objectives
On completion, participants in the course will be able to
- Understand the characteristics of natural gas which both broaden and yet
constrain the commercial and technical links in the “gas chain”
- Identify key factors which determine an optimal gas field development plan and
its related gas delivery system
- Generate options for market development proposals – “who dares, wins”?
- Negotiate more effectively the terms of gas supply agreements
- Understand the perspectives of the investor, the operator, the customer and
government towards the gas project
- Recognise political and diplomatic implications of international trade in natural
gas
Contents
Commercial characteristics of natural gas and its market
Consideration of gas as a ‘commodity’; comparison with crude oil and NGLs; capital
intensity of gas infrastructure; comparison of “green- field” and “incremental”
investment decisions; parties involved in the “gas chain”; role of the State
Optimization of gas field development
Contrast between optimal field development factors from an “upstream” (E&P)
perspective and from that of the gas supplier; impact of simultaneous production of
crude and NGLs
Pipeline gas transmission
Investment decisions; sizes and distances; build up rates, rates of return;
comparison with HT electricity transmission; when to liquefy?
Characteristics of LNG
Physical properties of LNG: density, purity, calorific value, relative “greenhouse”
impact.
Gas liquefaction overview
Costs, benchmarks, typical process, safety, lead and construction times; storage
requirements
Shipping/terminals/end uses
Costs, benchmarks, typical designs, safety, LNG “rollover”, lead and construction
times; storage requirements; upset conditions and responses; capacity/storage
optimization, special issues involving power generation
Market Identification/Development
The three levels of market identification, costs, compatibility of gases, and
conversion to piped natural gas
Environmental Considerations
The carbon load of natural gas; comparison with other fuels; opportunities for
differentiation
LNG business development
Key factors which generate a successful LNG market; outline of LNG sales and
purchase agreements; related contract terms and conditions
International competition for LNG markets
Current intense competition for markets is placed in historical context; effect on
pricing formulae and contract terms
Future Trends
Australian gas development experience is contrasted with other regional markets;
potential forces which impact on commoditisation; integration in US and Europe.
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