howard rogers talks about the natural gas outlook at last year's oil & money conference
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Oil and Money
14th November 2012
Howard V RogersDirector of Natural Gas ResearchOxford Institute for Energy Studies
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$/m
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Gas Prices 2007 – September 2012
Henry Hub
NBP
Europe Oil Indexed Contract est.
Asian LNG Spot
Average Japan LNG Price
Brent
Nat
ural
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e European Price Spreads
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0.0
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€/M
Wh
German Contract NBP
Indicative Uncertainty Range Given Contract Concessions
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e Japanese Power Company Financial FY 2011
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http://www.oxfordenergy.org/2012/06/a-realistic-perspective-on-japan%E2%80%99s-lng-demand-after-fukushima/
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e Lord Browne’s (CEO BP) view of
gas price negotiations in 1994“I cannot wait to move our gas sales contracts onto a gas market index. At the moment what happens when we want to develop a new gas field is this: our people sit down with the buyers and have a leisurely series of lunches that goes on for 2 years, at the end of tha t period they come up with a price that any two moderately intelligent people could agree on in 10 minutes. Th en they index it to something completely irrelevant. I can guarantee that by the time the gas is flowing, the price we get for it bears no relation to its value”
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THANK YOU
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howard.rogers@oxfordenergy.org
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