Registration & Coffee

C5’s Gas & LNG Supply Contracts Forum, Introduction and Welcome

Chair’s Opening Address

Supply vs. Demand: Which Factors Will Influence the Changing Landscape of Gas & LNG Purchases?

• U.S. LNG Wave – When will it arrive? Will it be financially viable?
• Where will the next phase of LNG supply and demand come from?
• Who will absorb the current oversupply?
• What new markets are emerging and how fast can these markets emerge?
• When can we expect the market to tighten and why?
• How Long will the buyers’ market last?

Panel Discussion: How Key Gas Industry Players are Developing and Adapting Their Contracting Practices in the Modern European Gas Market

• Detailed then and now look at the key contracting practices of the major players in the European Gas Market in 2018
• How major players have reacted to the changing market and how the changes are reflected in their approach to contract formation and review

Morning Break and Networking

Time and Cost Saving Procedures in Dispute Avoidance

• Is arbitration more cost-effective compared to litigation?
• How to encourage and manage a non-confrontational approach to conflict
• Avoiding disputes in the post-contractual stage
• Commercial Arbitration can be a cumbersome process. How can consensual resolution processes be used as an alternative?

Re-Structuring Contracts that Are Currently Being Discussed

• What is the role of legal going forward supporting oil companies in drafting new contract arrangements?
• What type of new deals are being discussed? What is their duration?
• What kind of volumes are being agreed?
• What is the risk that you should take according to your company portfolio?
• Will you need to sign a LTGC to ensure security of supply?
• Re-negotiating a contract when you have no other option and cannot replace the existing LTGC with anything else
• How to deal with the LTGC that have been in the market for a long time?
• How can you respond to the fundamentally change market conditions in these contracts?
• What are the advantages of an early termination when price revision is not sufficient?
• Understanding on your existing contracts: freedom and flexibility in different contexts
• Should buyer margin granted under LT oil-indexed contracts be preserved when these contracts are migrated to Gas Indexation?
• Does re-negotiating contract price defeat the purpose of putting a contract in place? Would it be advisable to put an explicit cap and floor to the contract price?

Lunch and Networking

Money Talks: How Major LNG Infrastructure Projects Will be Funded in a World Without Long Term Contracts

LNG projects have typically been some of the costliest in the world. Traditionally, banks and credit export agencies have been able to offer funding based on long term contracts lasting 20+ years. As the industry moves away from Long Term Contracts, how will projects be financed going forward?

Year in Review: Key Arbitration Decisions of the Last 12 months

• A look at key arbitration decisions along the value chain over the past 12 months
• Specific cases to be decided

Afternoon Break and Networking

Working Roundtables

An opportunity to discuss issues directly with our experts. Delegates will have the opportunity to switch round tables after 30 minutes, to maximize input and discussion.

Sergei Komlev
Head of Contract Structuring and Pricing Directorate
Gazprom

• Will Europe see a swing to oil-indexed/hub-priced pricing structures. Could they offer a reprieve for long term gas contracts?

• Traders are typically much more flexible in accommodating different pricing mechanisms based on the needs of each buyer. How does their emergence impact LNG pricing trends across Europe?

Melanie Lovatt
Financial Advisor
Poten & Partners

• As the industry moves away from Long Term Contracts, how will projects be financed going forward? Is a spot-price market a sustainable one?

Chair’s Closing Remarks
Networking Drinks Reception

Panel Discussion: Improving Efficiency…etc

Gas contract arbitrations are highly complex, drawn out processes with settlements at stake that have a significant material impact on a company’s bottom line. In this revealing panel discussion, leading arbitrators across Europe share their insights on the process and provide clear expertise as to what they are looking for from counsel to help the tribunal and achieve a successful arbitration.

• Pros and cons of arbitration in international business relationships
• The art of drafting arbitration clauses
• Mechanisms to improve efficiency and predictability of the process

Morning Break and Networking

The Global Context for European Gas Contracts and Pricing

• Europe’s role within the global gas and LNG Industry
• Emerging competition between pipeline and LNG supplies for growing incremental demand
• Where will LNG surpluses be absorbed?
• Role of LNG for Europe’s future trade, liquidity, pricing and contractual terms.

An In-Depth Overview of European & Global Hub Markets

• A comprehensive overview of the characteristics of the individual traded gas hubs around Europe and the world as well as potential new hubs
• Hub correlation
• Which hubs are most equipped for benchmarking?
• What does the future hold for hubs in the spot-priced gas market?

Lunch and Networking

Global Gas Price Convergence: State of Play

Over the years, gas prices have reached many extremes in various corners of the world, but this could be a thing of the past as an expanding and more independently priced liquefied natural gas (LNG) market helps global prices converge.

• Hub price convergence would reduce the pricing power of regional suppliers, making it harder for them to tie natural gas prices to oil prices.
• Will we see a true global gas price hub in the near future?

Where Next for Long Term Gas Supply Contracts in Europe?

• Is there a place for LTGSCs in Europe? If so how will they be structured over the next 5-10 years?
• Would producers agree to sell on a long-term basis at spot prices?
• What competitive advantage can producers offer their customers in a fully liquid market?
• How is the diversification of supply sources impacting gas supply contracts?

Chair’s Closing Remarks
End Of Conference- See You Next Year!