A 3-day energy project finance training course covering the oil, gas and power sectors.
FEATURING:
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Structuring large energy projects and accessing the most competitive funding
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Cashflow analysis
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Key legal risks in projects
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How to work with export credit agencies and multilateral institutions
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Using the capital markets for energy transactions
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Cross-border leasing
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Managing interest rate, currency and commodity price volatility
ENERGY PROJECT FINANCE TRAINING COURSE OBJECTIVES
In today's volatile energy environment it is ever more important to understand how suitable financial structures for oil, gas and electricity projects are created. In this programme, emphasis is placed upon understanding the objectives of various participants in project finance deals as well as how their goals may vary over time. The viewpoint of oil and gas producers and users, utilities, bank lenders and other credit providers, like equipment vendors or bondholders, are examined in detail. In many transactions, credit enhancement techniques can be very important as well. Thus traditional Export Credit Agency, Multi- and Bi-lateral Agency support, as well as tailored private sector political and commercial shifting mechanisms and programs are explained. In discussions of structuring energy projects innovative deals and numerous examples are drawn from around the world. Break-out cases treat the process of developing an adequate security package to suit all stakeholders. Additionally cash flow modelling exercises are employed each day to ensure application of concepts.
WHO SHOULD ATTEND THIS FINANCIAL TRAINING COURSE
- Project finance managers
- Credit managers
- Securities managers
- Corporate banking officers
- Financial analysts
- Strategic planners
- Senior executives
- Legal advisors
- Business analysts
- Consultants
Day One
THEMES: Allocating Risks in Project Finance.
Searching for Efficient Financing Alternatives. Cash Flow Modelling Workshop.
INTRODUCTION: INTERNATIONAL OIL AND GAS PROJECT FINANCE TODAY
RISK IDENTIFICATION AND ALLOCATION IN OIL GAS AND POWER PROJECT FINANCING:
SOURCES OF FINANCE: A FINANCING CHECKLIST
WORKSHOP: CASH FLOW MODELLING AND CREDIT ASSESSMENT
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Cash Flow Analysis
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Building a Model: Forecasting Techniques and Limitations
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Perspective of the Sponsor vs. The Lenders
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Sensitivity Analysis
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Probabilistic Models and Monte Carlo Simulations
CASE STUDY: FINANCING AN AMMONIA PLANT
Participants break into small groups to evaluate this security package in this gas processing plant. They will also work with a computer simulation to quantify their risk assessments.
Day Two
THEMES: Political Risk Insurance and Other Credit Enhancements; Leasing; Financing Oil Field Development
TRADITIONAL AND CONTEMPORARY SOURCES OF FINANCE
PROJECTS FINANCED IN THE CAPITAL MARKETS
Capital Markets and Oil and Gas Transactions:
SOURCES OF RISK SUPPORT
CASE STUDY: CONDENSATE PROJECT FINANCE IN ALGERIA
Participants will break into small groups to prepare a case study that looks at the development of a condensate field supported by both ECA’s and Multilateral Agencies. Following discussion participants will present their conclusions
Day Three
THEMES: Equipment Finance and Leasing, Financing Power Plants in Liberalising Electricity Markets
CASE STUDY: FINANCING AN OIL RIG IN THE CAPITAL MARKETS
Participants break into small groups to prepare a case study concerned with financing an oil rig. A computer simulation will be used to model cash flows. Groups will present their solutions.
CROSS-BORDER LEASING IN PROJECT FINANCE
CHANGING ELECTRICITY MARKETS
CASE STUDY: FINANCING A POWER PLANT
Considering the allocation of risk among various project participants in an electricity project. Testing the project's cash flows under varying scenarios with a cash flow simulation model designed to look at key influences on project viability.
WRAP-UP AND SELF-TEST
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Meg Osius
Margaret Osius specializes in capital markets, and risk management, as well as international project finance. She works with corporations, financial institutions, public agencies, law firms, and private equity investors. Training and advisory work has covered approaches to financing infrastructure build-out and facilities acquisition, selecting among debt, equity, and hedging alternatives, and related topics. She has considerable professional experience with the oil and gas, power, transport, and telecom sectors.
Ms. Osius began her career at JP Morgan Chase Manhattan Bank, where, as a Vice President, she structured highly leveraged transactions and project financings and advised clients on foreign exchange and other price risk management strategies. Ms. Osius was responsible for a team of analysts responsible for evaluating the quality of the bank's global loan portfolio as well as that of its newly acquired affiliates. In that role she had extensive experience with workout and distressed debt.
Ms. Osius has published articles in the business press and co-authored several self-study guides covering international project finance, trade and export finance, foreign exchange, and financial futures. The World Bank has published her articles on approaches to financial analysis in emerging markets. She is a primary speaker in a series of video sessions created to cover the topic of Sound Banking Principles during executive training sessions in Moscow.
Until 2008 Ms. Osius was Chair of the Technical Advisory Panel (TAP) of the Public Private Infrastructure Advancement (PPIAF that provides technical assistance to emerging market governments. She is a member of the council on Foreign Relations and received an M.B.A. from INSEAD, the European Institute of Business Administration. Her B.A. degree is from Princeton University.
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