howard rogers talks about the natural gas outlook at last year's oil & money conference
DESCRIPTION
Howard Rogers, Director of the Natural Gas Research Programme at Oxford Institute for Energy Studies, shared his ideas on the natural gas outlook at the 2012 Oil & Money Conference. In this presentation he reviews and comments on the gas prices from 2007 to 2012, as well as the European prices spreads. Join us at Oil & Money Conference 2013 to hear from and interact with the CEO's of global energy companies, oil ministers and expert analysts as they share their view of the 'revolution' which is taking place in the global energy industry. If you are particularly interested in natural gas you will particularly enjoy our sessions: 'Will Regional Natural Gas Markets Ever Converge?' and 'The New World of Oil and Natural Gas Trading.' Please join us at Oil & Money Conference 2013 this October at the InterContinental London Park Lane for high-level discussions and debates on the crucial issues facing the international energy sector, then join us. Visit www.oilandmoney.com for more information.TRANSCRIPT
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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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0
5
10
15
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25Ja
n-07
Jul-0
7
Jan-
08
Jul-0
8
Jan-
09
Jul-0
9
Jan-
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Jul-1
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Jan-
11
Jul-1
1
Jan-
12
Jul-1
2
$/m
mbt
u
Gas Prices 2007 – September 2012
Henry Hub
NBP
Europe Oil Indexed Contract est.
Asian LNG Spot
Average Japan LNG Price
Brent
Nat
ural
Gas
Res
earc
h P
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e European Price Spreads
3
0.0
5.0
10.0
15.0
20.0
25.0
30.0
35.0
40.0
€/M
Wh
German Contract NBP
Indicative Uncertainty Range Given Contract Concessions
Nat
ural
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Res
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h P
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e Japanese Power Company Financial FY 2011
4
http://www.oxfordenergy.org/2012/06/a-realistic-perspective-on-japan%E2%80%99s-lng-demand-after-fukushima/
Nat
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h P
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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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