CWC Ninth Annual World LNG Summit Barcelona 2008

Master Class C: Tuesday 9th December 2008

The abundance of regasification terminals and capacity, on both side of the Atlantic, is now an accepted reality. For a few IOCs with LNG supply as well as NOCs seeking downstream integration, regasification represents a small investment in the LNG capital intensive chain. But for the vast majority of LNG players—including LNG suppliers, gas and power utilities, terminal developer, trading companies, and investors—the new reality poses a range of opportunities, challenges and unknowns.

Abundant regasification capacity is altering market dynamics:

Ø The increased bargaining power of potential terminal users, particularly those with LNG supply, is resulting in markedly new terminal use agreements (TUA) that strive to optimize rights relative to the terminal as well as other users.

Ø Capacity arrangements are morphing from the traditional "firm" access to contracts for secondary, assigned, optional, seasonal, swaps, and other forms borne of creative competition.

Ø These trends are adding to the already complex logistical and contractual planning pressures required of stakeholders to optimize the use of a multi-user facility.

Our interactive workshop will discuss all this in depth; explore the key the commercial, and operational and contractual factors; and offer practical approaches and possible solutions. Attendance is "mandatory" for anyone developing or contracting for regasification capacity – or seriously considering entering this arena.

WHAT'S ON - CLICK HERE TO DOWNLOAD THE BROCHURE

MULTI USER REGASIFICATION TERMINALS: FACTORING CAPACITY ABUNDANCE & OPTIONALITY led by

08.30

REGISTRATION AND NETWORKING COFFEE BREAK

Steven Sparling, Partner, Sutherland Asbill & Brennan LLP

08:45 SESSION 1

IMPLICATIONS OF ABUNDANT REGASIFICATION CAPACITY IN THE ATLANTIC BASIN REGAS: A WIDER RANGE OF OPTIONS AND ARRANGEMENTS

Steven Sparling, Partner, Sutherland Asbill & Brennan LLP

Scott Chrisman, Director, Commercial Development, Sempra LNG

Richard Pratt, Fearnley

Keith Bainbridge, Managing Director, LNG Shipping Solutions

DISCUSSION TOPICS:

• Existing, expanded, new and proposed regasification terminal capacity
• Emerging secondary capacity arrangements and the addition of more terminal users
• Meaning and reality of "optional," seasonal and other forms of intermittent access
• Trans-Atlantic capacity swaps and their effectiveness
• Implications of downstream market access - how fungible are these terminals?
• Implications for terminal developers, investors and financial institutions

NETWORKING COFFEE BREAK

11:00 SESSION 2

MANAGING OPPORTUNITIES AND ADDRESSING RISKS OF MULTIPLE USER TERMINALS IN THE ABUNDANT CAPACITY MARKET

Tom Warren, Partner, Sutherland Asbill & Brennan LLP

Rudolf Huber, Head of Business Development, EconGas GmbH

Christopher Beale, Director LNG Marketing & Trading - Europe, Chevron UK

DISCUSSION TOPICS:

• Access and coordination in multiple user terminals
• Terminal operator perspective and range of solutions
• Anchor terminal users: creating flexibility to manage unused capacity
• The approach of the opportunists: secondary and option users
• Making capacity swaps meaningful and workable
• Accounting for rules and regulations
• Value of modeling

12.45

NETWORKING LUNCH

3:45 SESSION 3

MESHING CONTRACTS AND REGULATIONS TO OPTIMISE OPERATIONS AT MULTIPLE USER TERMINALS

Steven Sparling, Partner, SUTHERLAND

Ian Belmore, RWE Supply & Trading GmbH

Martijn Schouten, Sales Manager, Vopak

DISCUSSION TOPICS:

• Making it all work together: contracts, laws and rules
• Typical sensitivities and issues
• Understanding and complying with applicable regulations
• Meshing the contracts: LNG Purchase and Sales Agreements; Terminal Use Agreements, Intershipper Cooperation Agreements
• Accounting for secondary, optional and other forms of capacity
• Compliance with operations manuals, marine rules
• Mechanisms for resolving operational issues in real-time, competitive environment

15:45

CHAIRMAN’S CLOSING REMARKS

16.00

CLOSE OF MASTER CLASS