Key Learning Objectives
- Understand the technical procedures for turning natural gas into LNG, its regasification and safety considerations
- Review LNG plant and terminal design, storage and shipping considerations
- Identify recent developments in FLNG technology
- Discover the unique characteristics of LNG that broaden yet constrain the commercial and technical links in the ‘gas chain’
- Generate various options for LNG market development proposals
- Discover risk and risk mitigation strategies to aid decision making
- Analyse LNG sales agreements and tactics to more effectively negotiate contract terms
- Discover perspectives of the investor, the operator, the customer and government towards LNG projects
- Recognise political and diplomatic implications of international trade in LNG, including recent trends
About the Course
This course contrasts the technical and commercial differences between LNG and natural gas to point out benefits and constraints that arise from the LNG option. It will examine the technical process of producing LNG, plant design considerations, global comparisons along with the design of regasification terminals.
A description is given of the elements in the ‘gas chain’ which apply to LNG and of drivers that would lead to optimisation of design and commercial operation, and the range and role of relevant parties to a successful LNG project. LNG safety is covered in detail, along with ways and means by which a new entrant to a proposed LNG project may ensure an investment that meets expectations.
An introduction to terminology and practical ‘rules of thumb’ should further enhance the participant’s ability to immediately contribute to a successful gas project –and to ask the right questions to test and improve the viability of a proposed project.
New initiatives in floating LNG technology, both liquefaction and regasification, will be examined. Floating regasification projects are contrasted with land-based projects. Actual case histories will be used frequently to demonstrate learning points.
Who Will Benefit
This course is not a basic level introductory course. It has a specific techno-commercial focus for technical and business oriented professionals who are either new to the LNG industry or experienced in one part but could benefit from a wider perspective.
- Technical (exploration and production, geoscience and engineering).
- Non-technical (commercial, finance, government, marketing and legal) backgrounds.
- Those who have recently joined an LNG market development team with expertise in one area of gas development.
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Operations Supt, Woodside Energy
“Clearly highly knowledgeable about the global industry and use of real project examples good.”
HR Manager, Woodside WA
“Their depth of knowledge and approachable nature. I enjoyed about their global LNG experiences and I learned a lot from them. Thank you.”
CSOC Advisor, Chevron
“Tremendous experience. Instructors are superbly knowledgeable and have a wonderful engaging presentation style. I’d recommend this to any Chevron employees”
Gorgon Exploration Team Lead, Chevron
Introduction and overview
Objectives of this course is to provide the newcomer to a LNG project development team with insight into the fundamental principles governing the successful development and operation of an LNG project.
Technical characteristics of natural gas and LNG
An introduction to the unique physical characteristics of NG and LNG is presented so that technical and commercial opportunities and constraints may be understood and contrasted with other liquid and gaseous fuels.
- Capital costs and economies of scale, cost trends and benchmarks
- Technology and typical processes, lead and construction times
- Storage requirements
- Typical EPC contracts, their operation and examples
- Capital costs and operating conditions of LNG carriers, benchmarks, typical designs, lead and construction times
- Vessel size and constraints
- FoB vs. DeS
- Fleet management issues
- Discussion of degree of technical and commercial flexibility in LNG delivery schedules and associated contractual terms
- Examples of delivery arrangements are examined from buyer and seller perspectives
LNG terminals and end-users
- Capital costs and benchmarks, typical designs, lead and construction times
- Storage requirements
- Upset conditions and responses
- Capacity/storage optimisation
- Special issues involving power generation
The cryogenic temperature of LNG and the generation of large quantities of gas on vaporisation require significant and different safety requirements for the safe handling, storage and use of LNG. LNG will be compared with other fuels.
Market identification and development
- The three levels of market identification, costs, compatibility of gases, and conversion to reticulated natural gas
- History of LNG market development and their pricing mechanisms
- Outline of LNG sales and purchase agreements; related contract terms and conditions and their evolution
International competition for LNG markets
- Current intense competition for markets placed in a historical context
- Analysing the effect on pricing formulae and contract terms
- The short-term trade – ‘the spot market’ – regional pricing conventions and their robustness
- Examining signs of price convergence
- Analysing market share data and relative positions of LNG participants
LNG business development
- Understanding key factors that generate a successful LNG market
- Examples of the dynamic balance between supply and demand with reference to substitute and ‘swing’ fuels
- Project ‘realities’ – including reputation issues and sponsors’ track record
- Project governance
- Drivers behind project participation and role of the state
- Examples of successful and sub-optimal participation by small and larger new-entrants
- Necessity for independent advice, and ways and means to keep up to date
An integrated LNG project – ‘rules of thumb’
- Typical default parameters frequently encountered in a successful LNG project
- International convergence in capital costs allows estimation of netbacks or margins at each element of the gas chain – local variations may call for explanation
LNG outlook and future trends
- ‘The century of gas’ – the basis for expected future market expansions and extensions
- Discussion of limiting factors and time constraints
- Suggested pointers for early warning of likely and sustained market changes
- Potential forces which impact on commoditisation and/or price convergence
- Integration in US and Europe
- Examining the effects of potential LNG trade to west coast US
- Contrasting Australian gas development experience with other regional markets
Summary and review of course
- Detailed review and Q&A
- Check course coverage against objectives
- Feedback requested and addressed
when & where
24 - 26 Aug 2021
09 - 11 Nov 2021
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