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An Introduction to LNG
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An Introduction to LNG

1-Day Training Course: Understanding One Of Our Biggest Export Industries. The Australian LNG industry represents a cornerstone of our resource export economy. Understanding the fundamental of this almost recession-proof industry will unlock knowledge, opportunities & synergies essential to doing business within it

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overview

Key Learning Objectives

  • Understanding the LNG industry in Australia and globally
  • An overview of petroleum formation
  • Conventional versus unconventional gas production
  • Understanding gas fields (appraisal, modelling, reservoir estimations etc)
  • Gas liquefaction, storage and transport
  • CO2 disposal options and why these are increasingly important
  • From wellhead to burner – understanding the LNG value chain
  • LNG receiving terminals – how they work and what they cost
  • Changing and future trends in LNG
  • What are the hazards and how does the industry deal with them?
  • Contractual options for LNG production
  • Funding LNG projects and contractual options for LNG sales

About the Course

The LNG industry is arguably the most important and dynamic energy export industry in the world and is increasingly underpinning economies at both the export and import end of the chain.

This course will enable you to understand why gas is liquefied to enable secure, economic transport of large volumes of gas. It will explain the specialised processes that are needed to liquefy, store, transport and re-gas natural gas to make it an internationally viable source of clean energy.

It will provide insight into the future of LNG in the face of increasing global pressure to minimise carbon dioxide pollution through carbon taxes and trading systems and to realise how the LNG market is changing from offshore to onshore gas through the success of unconventional gas production.

By looking at the complex and inter-related aspects of the LNG chain, you will get a holistic understanding of the LNG.

Who Will Benefit:

This course will provide valuable insights for:

  • Technical and non-technical employees in the LNG industry
  • LNG marketers
  • Those involved in the LNG support industry
  • Advisers to the LNG industry
  • Government personnel involved in supporting the LNG industry
  • Journalists and analysts dealing with the gas industry

A CPD Course

Use this course to help fulfil your Continuing Professional Development (CPD) educational requirements to retain your professional/chartered status. Contact your relevant association to learn how.

Testimonials

“I learned a lot about the history of LNG processing, compositions of the gas, how the actual LNG plant works and how LNG is shipped”
Project Auditor, Gorgon LNG Plant

Terms & Conditions

To read the training course terms and conditions read more here

Course Outline

Introduction – Current Environment and Industry Trends Download Course Brochure

  • Business Environment and Relevance
  • Oil & Gas Markets and Commodities
  • Industry Performance
  • Industry Structure, Contractual Arrangements and Value Chains
  • Technical, Social and Market Trends

Oil and Gas Project Management and Planning Fundamentals

  • Life Cycle Analysis and Planning
  • Discussion of Project Management Considerations Across Key Phases
  • Exploration
  • Appraisal and Development
  • Production
  • Abandonment

Key Project Valuation Measures

  • Net Present Value Concept Discount Factor
  • Cost of Capital – review effects of interest rate, cost of equity and debt / equity trends
  • Net Present Value
  • Internal Rate of Return
  • Payback Period
  • Profit/Investment Ratio

Petroleum Risk and Uncertainty Analysis

Probability, statistics and key uncertainty concepts
Risk and uncertainty management principles
Appropriate use of probability distributions
Monte Carlo simulation, Latin Hypercube
Developing key probabilistic estimation skills
Probabilistic reserves and resource estimation techniques
Probabilistic cost estimation
Estimating with uncertainty
Expected value concepts and the effects of low oil price
Risk assessment
Financial Risk Analysis
Incorporating risk management in decision making

Decision Analysis for Exploration and Production

  • Fundamentals of decision analysis
  • Problem Framing
  • Value of information
  • Real option valuation
  • Application of Bayes’ theorem
  • Prospect risking and evaluation – effects of oil price on prospect viability
  • Portfolio management and optimization in a low oil price environment
  • Scenario modeling case studies
  • Project vulnerability analysis and mitigation techniques
  • Sensitivity Analysis (focusing on effects of oil price downside)
  • Tornado diagrams
  • Break even analysis
  • Distributions, Decision trees and simulation

Corporate Risks and Strategic Decision making

  • Recognition corporate influences decision making
  • Implications of E&P Corporate Risk Taking and Performance
  • Corporate and Financial Risk Tolerance and Vulnerability
  • Strategic planning and implementation
  • Processes for recognizing a company’s strengths and weakness
  • Strategies for taking advantage of strengths and mitigating weaknesses
  • Importance of effective communication and management buy in
  • Commonly used structured planning techniques
  • SWOT and PEST analysis
  • HSE, labor and stake holder considerations
  • Modelling and structuring complex E&P decisions – exploration plays selection
  • Applications of decisions and Risk analysis to the Petroleum sector

Price Risk Management

  • Physical Oil & Gas Markets
  • Price Risk – How to Evaluate It?
  • Market structures and types of transactions to mitigate price risk
  • Price Exposure, Definition of Hedging and Hedging principles
  • Pricing and Sensitivities

Managing Political Risk & Corporate Governance Solutions

  • Understanding, identifying and managing Political Risk
  • Political risk mitigating tools (strengths and weaknesses)
  • Internal policies & solutions
  • Political Risk Insurance and Portfolio Diversification Strategies

Effective Implementation of Strategic Decision Making

  • Consistent use of metrics and appropriate target setting
  • Decision making processes, useful systems and tools
  • Separation of operations from strategy
  • Creation of Forums focused on decisions not discussion
  • Prioritising high value items and dropping non-essential issues
  • Ensuring only viable options are considered and implemented

On-site & in-house training

Deliver this course how you want, where you want, when you want – and save up to 40%! 8+ employees seeking training on the same topic?

Talk to us about an on-site/in-house & customised solution.

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