Energy Training & Electric Power Classroom Seminars

Recent trends in the marketplace and the increased pace of liberalisation have joined to raise interest in natural gas storage in both traditional and new market participants. This seminar provides a practitioner's view of the fundamentals necessary to balance cost vs. benefit, the daily optimization and the practical exploitation of sometimes hidden storage opportunities. The role of liquidity and liberalization will be discussed as well as how to exploit storage assets under less than fully liberalized or liquid markets. The workshop will cover the basic pros and cons of various storage analytical models without demanding any prerequisite analytical skills.This seminar is taught by one of the industry's foremost storage management experts, who pioneered many of the techniques commonly used today. In addition, he has delivered this workshop multiple times at the largest European gas forum in Amsterdam. Click here to register.

1. What is the single most important benefit of storage ownership
2. How storage assets can create their own liquidity where there is none
3. When it is not appropriate to use storage
4. Why is managing storage so different from other gas facilities and resources
5. Why you might be overpaying for natural gas storage assets
6. The role of analytics in storage management and optimization
7. Alternative methods for storage valuation and management
8. The laws of diminishing returns - as applied to natural gas storage
9. Why liquidity matters so much
10. Why volatility is your friend
11. Hands on practical examples works

8:30 am.to 9:00 am - Registration

Fundamentals of Asset Arbitrage

• Defining speculation vs. market making vs arbitrage
• Storage utilization and arbitrage
• The "psychology" of arbitrage
• Managing storage for energy supplies vs. profits
• Why storage is different from other energy assets
  • Hidden or "embedded" values in storage
  • Contingent or path-dependent behavior of storage
• Maintaining a profit & loss or "risk" book for storage
  • The long and short of it
  • Multiple meanings of "delta"

Practitioner's Tricks of the Trade

• Storage analytics
  • Different methods for valuing storage
  • The "practical" differences amongst the methods
  • Why you should value storage the sameway that you plan to manage your storage
  • Extrinsic vs. intrinsicvalue of storage
• Why some companies may be overpaying for storage
• Practitioner's guide to exercising storage options
  • Why you have to first kill some options in order to create new ones
  • Things analytics models don't tell you
  • "Loading" the gun vs. pulling the "trigger"
• Why analytics are not perfect
• The art vs. the science of storage utilization
• Operations vs. analytics models- why they are equally important
• Managing storage like a game of chess

Examples and Hands on Practice

• High cycle vs. low cycle storage
• The laws of diminishing returns
• Liquidity and volatility
  • Fuels for the storage engine
• Management organization foroptimal storage results

3:30 pm End of Workshop

Soli Forouzan is President of Mind Span, Inc., an Asset Optimization and Trading Risk Management consulting firm. Prior to holding this position he was the Chief Risk Officer for PG&E Energy Trading, overseeing all trading in electric power, natural gas and other fuels for the third largest energy trading organization in North America. In that capacity he oversaw the integration of 5,100 megawatts of acquired power generation capacity into PG&E's risk portfolio and was responsible for internal transfer pricing, risk methodology & architecture, and performance benchmarking. Soli's career spans over 20 years in the energy industry, during which time he traded one of the largest natural gas storage asset portfolios in the industry. Mr. Forouzan has been a Chartered Financial Analyst (CFA) since 1987 and is a frequent speaker at energy industry forums on the subjects of trading risk management and asset optimization.

This is a basic course for the novice and those relatively new to storage optimization. No prior experience or math knowledge is assumed.

Among those who will benefit from this seminar include energy and electric power executives; attorneys; government regulators; traders & trading support staff; marketing, sales, purchasing & risk management personnel; accountants & auditors; plant operators; engineers; and corporate planners. Types of companies that typically attend this program include electric utilities; power marketers; banks & financial houses; industrial companies; accounting, consulting & law firms; municipal utilities; government regulators and electric generators.

This seminar requires a basic understanding of the natural gas industry. A knowledge of options and/or hedging techniques is helpful but not required. No advance preparation is required before the seminar.

PGS seminars are known for their clear explanations and in-depth content. Register for a PGS class today, and join the over 10,000 energy professionals who have already attended one of PGS's proven programs. View Past Seminar Attendees

This seminar will be held at the hotel listed below or can be conducted on-site at your facilities. The seminar will start promptly at 9:00 AM and will finish at 3:30 PM. The program includes continental breakfast, lunch, and coffee/cookie breaks. Attendees also receive a professionally produced seminar manual that can serve as a valuable office reference. Dress is casual for all seminars

Register Now and invest in your future. The price for this comprehensive one-day seminar is $895 (USD).

Early Bird Special: Register on or before Feb 16, 2012 and save an additional $100 per order!

• Additional attendees and government employees receive a 10% discount.
• Members of TOGA, AIPRO, INGAA or IOGA-NY receive a 15% discount. Please call 412-521-4737.
• Sign up for 4 or more classroom seats during the same month and all attendees will receive a 20% total discount.
  (If you plan to register 4 or more classroom seats, but want attendees to pay by separate credit cards, register one party now and mention this fact in the "Comments" section of the registration form. We will manually subtract the 20% discount from the first registrant's seminar fee. Tell other parties in your group to mention your name when they register, and we will give them the 20% discount as well.) Please call 412-521-4737 for more information.
  Special pricing is available for groups of 5 or more. Please call Janice Ohmura at (412) 521-4737.

Payment is due prior to the start of the seminar by Visa, Master Card, American Express, Diners Club, or corporate check. Seminar fees will be charged to your credit card at the time of registration unless other arrangements have been made. Please make checks payable to "PGS Energy Training" 26 Teal Lane HHP · Hilton Head Island, SC 29926. Cancellations can be made up to five (5) business days prior to the start of the seminar for a full refund. No refunds will be made thereafter, but full credit for one year will be given toward future workshops. Substitutions may be made at any time. For more information on PGS policies regarding administrative matters and complaint resolution, please contact our offices at 412-521-4737.

This live group seminar is eligible for 6.0 CPE credits. Be aware that state boards of accountancy have final authority on the acceptance of individual courses for CPE credit. As of January 1, 2002, sponsored learning activities are measured by program length, with one 50-minute period equal to one CPE credit. One-half CPE credit increments (equal to 25 minutes) are permitted after the first credit has been earned in a given learning activity. You may want to verify that the state board from which your participants will be receiving credit accept one-half credits.

PGS Energy Training · 26 Teal Lane HHP · Hilton Head Island, SC 29926
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