Course 20 of 20 · LNG Desk Academy

Integrated LNG Portfolio Simulation

Stage E, Structuring, resilience and integrated practice. Level 10 of 10.

Running the whole book under time pressure, where scheduling, pricing, hedging, shipping, terminal and funding decisions are taken together and scored as one outcome.

128 chapters · 12 modules · every chapter one 8 to 10 minute explainer · builds on: Course 11, Course 15, Course 17, Course 19

Enrol or enquire See the 128 chapters
How a chapter is sized

One chapter is one idea taken to the point of use

Each chapter is a single self-contained explainer of 8 to 10 narrated minutes, covering one idea to the point where you can use it.

Chapters run in order. Each one assumes only what the chapters before it taught, and capability belonging to a later course is named and deferred rather than half-covered.

Curriculum

12 modules · 128 chapters

Open any module for its full chapter list, in teaching order.

M0 The Mandate, the Book and the Delivery Programme Ch 1-10
  1. Reading the Mandate on Your First Morning
  2. Twenty-Six Cargoes You Did Not Buy
  3. The Annual Delivery Programme You Must Live With
  4. The Shipping You Control and the Shipping You Beg For
  5. Regasification Rights, Berth Windows and What They Oblige
  6. The Hedges Left Behind With No Explanation
  7. Cash, Credit and the Collateral Already Posted
  8. Choosing Your Own Ceiling Inside the Remit
  9. The One-Page Plan Filed Before Anything Moves
  10. How This Run Is Scored
M1 The Year as Given: Basins, Indices and the Arb Ch 11-20
  1. The Screen Across Three Basins
  2. Is the Basin Spread Wide Enough to Move a Cargo?
  3. An Oil Slope Against a Gas Screen
  4. The Fundamentals Pack, and What It Hides
  5. What Nobody Will Tell You This Year
  6. Broker Chatter, Project Gossip and What Is Confirmed
  7. Stating a View on the Basin Spread
  8. Where Your Programme Has Slack and Where It Has None
  9. Five Links, One Chain, Per Cargo
  10. Filing the Year Plan Under Timestamp
M2 The First Liftings and Where They Go Ch 21-31
  1. Nominating the First Lifting
  2. Where Does Cargo One Go?
  3. The Buyer Who Wants It Two Weeks Earlier
  4. FOB Lifting or DES Delivery for the Same Volume
  5. Committing: The First Cargo Is Fixed
  6. A Second Cargo, A Worse Set of Choices
  7. Selling Into a Tender You Have Nine Days to Win
  8. The Lifting You Decline to Take
  9. Amending the Programme After Four Liftings
  10. The Net Position Four Cargoes In
  11. The Liftings Round Examined With the Year Still Open
M3 The Structured Offer Ch 32-41
  1. The Enquiry From a Buyer Who Wants Options
  2. Costing the Flexibility They Are Asking For
  3. Which Index Do You Want to Be Paid On?
  4. The Destination Clause You Must Not Give Away
  5. Volume Tolerance and the Ship That Must Fit
  6. Credit Terms for a Buyer You Cannot Verify
  7. Submitting the Offer You Cannot Retract
  8. They Accept Everything Except One Clause
  9. Won or Lost, and the Book Changes Either Way
  10. What the Importer Would Have Paid
M4 Hedging and Funding the Cargo Book Ch 42-52
  1. The Exposure Map After Four Liftings and One Offer
  2. The Slope You Cover and the Spread You Run
  3. Hedging an Oil Index With Gas Instruments
  4. The Berth Slip That Moves Your Pricing Month
  5. The Stub You Keep Because Closing It Costs More
  6. A Cap on the Assessment, or Fewer Cargoes Sold
  7. Funding a Cargo Worth More Than the Desk
  8. The Cash Gap Between Loading and Settlement
  9. Margin Calls Against Cargo Receipts
  10. Locking the Quarter's Protection and Naming Its Cost
  11. Defending the Hedge Ratio to a Treasurer
M5 Quarter Close: Position, Exposure and Attribution Ch 53-64
  1. Freezing the Quarter
  2. Valuing the Cargo Still on the Water
  3. The Energy Delivered Against the Energy Invoiced
  4. Marking the Paper Against the Clearer
  5. Three Results From One Book
  6. Where the Quarter's Money Came From
  7. Per Cargo, Not Per Trade
  8. The Residue That Ties to Nothing
  9. The Position Statement You Sign
  10. Three Cargoes Where the Records Disagree
  11. The Provisions That Flatter or Tell the Truth
  12. Fifteen Minutes With a Controller Who Found It First
M6 Event: The Train Trips Ch 65-74
  1. Event: A Liquefaction Train Goes Down
  2. What the Contract Obliges the Seller to Do
  3. Looking for a Replacement Cargo That May Not Exist
  4. Buying at the Replacement Price, or Failing Your Buyer
  5. Which of Three Buyers Goes Short
  6. Re-Cutting the Delivery Programme Around the Outage
  7. Paper Against Liftings That Will Not Happen
  8. Owning the Cost of the Outage
  9. Defending the Outage Response to Someone Who Saw the Restart
  10. The Correct Call That Lost Money
M7 Event: The Diversion Worth Taking Ch 75-84
  1. Event: A Better Market Opens While You Are Loaded
  2. What Making the Buyer Whole Actually Costs
  3. The Voyage Arithmetic From Where the Ship Is Now
  4. Do You Hold a Berth at the Other End?
  5. The Hedge Adjustment the Diversion Forces
  6. Divert, or Honour the Original Delivery
  7. Telling the Buyer You Are Taking Their Cargo Elsewhere
  8. Documenting a Decision You Cannot Unwind
  9. Marked Blind on the Diversion
  10. The Diversion You Should Have Refused
M8 Event: The Terminal Cannot Receive Ch 85-94
  1. Event: The Receiving Terminal Shuts Its Berth
  2. Who Carries the Risk Under Your Delivery Term
  3. Waiting Offshore and What It Costs by the Day
  4. Finding Somewhere Else to Discharge
  5. Selling the Cargo Afloat
  6. The Downstream Customer Who Will Not Get Gas
  7. Taking Charge of the Call While the Ship Waits
  8. What the Terminal Failure Cost
  9. The Capacity Right You Thought You Had
  10. Rebuilding the Chain After Two Breaks
M9 Event: The Proxy Stops Working, and the Buyer Stops Paying Ch 95-105
  1. Event: The Proxy Hedge Stops Tracking
  2. Measuring How Far the Relationship Has Broken
  3. Lift the Hedge, Re-Proxy, or Hold
  4. The Hedge Line Read in Isolation
  5. The Limit You Have Breached Without Trading
  6. Event: A Buyer Stops Paying
  7. Declaring Default on a Cargo-Sized Exposure
  8. The Security That Turns Out to Be Thin
  9. Finding a Home for the Cargo That Loads Anyway
  10. The Signals You Already Held
  11. Both Shocks Scored on Anticipation
M10 Event: The Price Review Served On You Ch 106-115
  1. Event: A Price Review Notice Arrives
  2. Is the Trigger Actually Met?
  3. Assembling Evidence From Your Own Book
  4. What an Arbitration Would Cost You
  5. Designing a Settlement Worth More Than Price
  6. Negotiating While Still Delivering
  7. Settle or Go to the Tribunal
  8. Booking the Review Outcome
  9. The Review You Could Have Triggered First
  10. One Clause Against a Year of Trading
M11 The Year-End Close and the Defence Ch 116-128
  1. The Last Liftings of the Year
  2. Closing Out the Paper
  3. Every Open Claim Brought to a Landing
  4. Shutting the Year Down for Good
  5. Attribution Across the Whole Delivery Year
  6. Every Dollar From Prepayment to Receipt
  7. Two Pages for Your Successor
  8. Where the Reason and the Action Diverge
  9. The Panel Takes the Destination Decisions
  10. The Panel Takes the Programme and the Ships
  11. The Panel Takes the Money and the Paper
  12. The Gap You Must Concede
  13. What a Single Delivery Year Could Not Test

The brochure gives each of these 128 chapters a paragraph on what it covers and what you can do once you have worked through it.

This is course 20 of twenty

It stands alone, and it is also the entry point to the LNG Desk Academy pathway.

Enrol or enquire See the whole pathway