LNG Trading Desk Master Program

Global LNG Markets (US, EU, Asia)

How senior traders run risk, P&L and systems on an LNG desk. Built around cargo optionality, execution reality and survival under stress.

Curriculum — 120 Cumulative Chapters

Module 1 — Running an LNG Trading Desk (Chapters 1–12)
  1. What an LNG Desk Is Accountable For (P&L, Risk, Reputation)
  2. Physical vs Financial LNG Desks
  3. Portfolio LNG vs Asset-Backed LNG Trading
  4. Senior Trader vs Junior Trader Authority
  5. Desk Mandates, Capital Allocation & Risk Budgets
  6. When Not to Trade LNG
  7. Spec vs Flow Control Points
  8. How LNG Desks Actually Fail
  9. Authority, Overrides & Escalation Rights
  10. Senior View of LNG Desk P&L
  11. ETRM as a Control System for LNG
  12. Lessons from Failed LNG Desks
Module 2 — LNG Market Structure That Actually Matters (Chapters 13–28)
  1. Global LNG Value Chain (Liquefaction → Shipping → Regas)
  2. LNG Contract Types (SPA, FOB vs DES)
  3. Long-Term vs Spot LNG Reality
  4. Pricing Indexation (HH, JKM, TTF, Brent)
  5. Destination Flexibility & Diversion Rights
  6. Shipping Constraints & Fleet Availability
  7. Canal Constraints (Panama, Suez)
  8. Liquefaction Outages & Plant Risk
  9. Regas Capacity & Terminal Bottlenecks
  10. Inventory-on-Water as Optionality
  11. LNG Market Liquidity Illusions
  12. Regulatory & Sanctions Risk
  13. Seasonal LNG Demand (EU vs Asia)
  14. When LNG Curves Stop Working
  15. Market Rule & Contract Changes
  16. Case Study: LNG Market Design Failure
Module 3 — Senior LNG Trading Playbooks (Chapters 29–48)
  1. Portfolio-First LNG Trading
  2. Cargo Optimization & Optionality
  3. Diversions: When They Create vs Destroy Value
  4. Cross-Basin Arbitrage Reality
  5. Shipping Arbitrage vs Paper Arbitrage
  6. LNG vs Pipeline Gas Substitution
  7. Storage-on-Water Strategies
  8. Weather-Driven LNG Trading
  9. Event-Driven Trading (Outages, Wars, Sanctions)
  10. Liquidity-Aware Position Building
  11. Scaling In vs All-In Cargo Positions
  12. Knowing When You’re Wrong
  13. Risk-Off Playbooks
  14. Correlation Breakdown (LNG–Gas–Power)
  15. Trading Through Port & Terminal Failures
  16. Netting vs Risk Masking
  17. When Diversification Fails
  18. Capital Allocation Mistakes
  19. Senior Cargo Review & Post-Mortems
  20. Case Study: Desk That Made Money by Not Sailing
Module 4 — Valuation, Curves & Model Skepticism (Chapters 49–62)
  1. LNG Forward Curves — When They Lie
  2. Index-Linkage Mispricing
  3. Shipping & Boil-Off Modelling Errors
  4. Liquefaction Tolling Valuation
  5. Regas & Send-Out Optionality
  6. Weather Models Traders Don’t Trust
  7. Intraday Signals vs Noise
  8. MTM as an Estimate, Not Truth
  9. P&L Attribution on LNG Desks
  10. Model Override Governance
  11. Analytics Bias & Confirmation Risk
  12. Stressing Models, Not Markets
  13. Managing Analytics & Optimization Teams
  14. Case Study: Model-Driven LNG Loss
Module 5 — Risk, Credit & Survival (Chapters 63–78)
  1. Risk as Capital Preservation
  2. Volume Risk from Plant & Shipping Variability
  3. Basis Risk You Cannot Hedge
  4. Liquidity Risk Under Stress
  5. Credit as a Trading Constraint
  6. Margin Calls During LNG Price Shocks
  7. VaR — What It Misses in LNG
  8. Stress Testing Extreme LNG Scenarios
  9. Kill Switches & Trade Freezes
  10. Who Pulls the Plug — And When
  11. Risk Escalation Playbooks
  12. Trading Under Regulatory Scrutiny
  13. Lessons from Major LNG Dislocations
  14. Europe Gas Crisis — LNG Desk Decisions
  15. Asia Demand Shock — Cargo Repricing
  16. Case Study: Desk Survival Playbook
Module 6 — Execution, Shipping & Operational Risk (Chapters 79–90)
  1. Trade Intent vs Physical Reality
  2. Chartering Strategy (Spot vs Term)
  3. Scheduling vs Trading Conflict
  4. Boil-Off, Heel & Measurement Risk
  5. Loading & Discharge Delays
  6. Demurrage & Claims Management
  7. Documentation & Settlement Failures
  8. Intraday Adjustments Under Pressure
  9. Automation Failures
  10. Manual Overrides & Audit Risk
  11. Follow-the-Sun LNG Desks
  12. Operational Risk Case Study
Module 7 — ETRM for LNG Trading Desks (Chapters 91–102)
  1. ETRM as an LNG Risk System
  2. Deal Capture for Cargoes & SPAs
  3. Position & Exposure Views Traders Trust
  4. Intraday Revaluation Reality
  5. Shipping & Freight Modelling Gaps
  6. Contract Optionality Limitations
  7. Real-Time P&L — Myth vs Reality
  8. Shadow Systems & Excel Dependency
  9. Control vs Flexibility Trade-Off
  10. Governance Failures in LNG ETRM
  11. What an LNG Desk-Grade ETRM Looks Like
  12. When Technology Becomes the Risk
Module 8 — Regulation, Behavior & Accountability (Chapters 103–112)
  1. Sanctions, Export Controls & LNG
  2. Inside Information (Outages, Maintenance)
  3. Market Abuse & Manipulation Risk
  4. Brokered & Voice Market Risk
  5. Behavioral Risk & Overconfidence
  6. Fatigue, Shift Trading & Errors
  7. Culture: Fear vs Discipline
  8. Crisis Leadership on LNG Desks
  9. Compliance Failure Case Study
  10. Regulatory Fallout
Module 9 — Desk Leadership & Legacy (Chapters 113–120)
  1. Designing a Resilient LNG Desk
  2. Capital Allocation Across Traders
  3. Hiring & Firing Decisions
  4. Compensation & Risk Incentives
  5. Succession Planning
  6. Desk Metrics That Matter
  7. Avoiding Complacency
  8. Lessons from Long-Lived LNG Desks

Why Senior LNG Traders Respect This Program

$999


Video • PDF • Audio Podcast

Cohort-Based

Live Instructor-Led (ILT)

Enterprise

Private cohorts & customized content

Instructors & Desk Credibility

Instructor

Program Authors

Senior practitioners with hands-on experience running and supporting LNG trading desks, spanning long-term SPAs, spot and portfolio LNG, destination flexibility, and end-to-end integration with ETRM / CTRM platforms.

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