Oil & Gas Project Finance
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The oil and gas industry rarely stands still for long and in the last few years important changes have been taking place along the hydrocarbon chain. These have prompted new developments in the financing markets too. Shale gas has been a real game-changer, both in the US and across the world, with major impacts on the LNG and petrochemical industry. US LNG export financings are now a reality. After a difficult time for upstream oil and gas independents in the immediate aftermath of the global financial crisis, the signs are that upstream lenders are once again becoming more aggressive in their offerings. Export credit agencies have played a much greater role in oil and gas deals in recent years – especially (but not just) in the emerging markets. Gas-to-liquids projects are back on the agenda, as a means of monetizing stranded gas assets.
While this course continues to offer the same grounding it has always provided in the core concepts of the oil and gas financing sector, its content is continuously adapted to reflect the changes taking place in the hydrocarbon value chain. It is intensely practical, rich in the “tips and tricks” of the financing markets and has been specifically tailored to the needs of professionals operating in the oil and gas, banking, finance, legal and accounting industries who wish dramatically to expand and deepen their knowledge of limited-recourse financing techniques.
HERE’S WHAT YOU WILL LEARN OVER THREE INTENSIVE DAYS
Taught by a respected project finance and international oil and gas expert, the training commences with an industry overview and teaching/group work on qualitative and quantitative risk analysis. This is designed to ensure that all participants have a good working understanding of the:
- Basic structure of the international petroleum industry
- Qualitative risk “template” applied by lenders – what risks are “bankable”
- Different risk/reward objectives of sponsors and lenders
- Ratios and other tools used to determine loan values and balance equity and debt
You will then progress to a study of the project financing challenges in the separate branches of the industry, in particular:
- Upstream field development – single assets and borrowing bases
- Refineries – both greenfield and upgrades
- Oil and gas transportation pipelines and gas gathering systems
- Liquefied Natural Gas (LNG) liquefaction and regasification
- Petrochemical plants
- Gas storage
TOPICS ADDRESSED IN-DEPTH INCLUDE:
- Providing you with a power project financing “toolkit” incorporating
- Qualitative and quantitative risk analysis
- The mechanics of upstream oil and gas financing
- The complexities of refinery finance
- Oil and gas transmission and distribution lending
- LNG project finance strategies
- Petchem and gas-to-liquids financing
- Upstream and downstream intensive case studies
How You Will Learn
The emphasis is on applying all that you learn. Recognise how structures have changed over time and know where and why structures have not worked.
Two major case studies will be used – one in the upstream sector and one in the downstream – to reinforce the principles taught on the course and to allow projects to be examined with greater granularity.