This course has been designed to introduce participants with little or no prior knowledge of oil & gas projects to the fundamental requirements for raising debt for mid and downstream oil & gas assets.
Participants will learn the key differences between upstream (exploration & production), midstream (pipelines & storage – including LNG), and downstream (refining & petrochemicals), before focusing on the the different debt structures that have been developed to fund projects in the mid and downstream sectors.  Subsequently, they will be guided through the lenders’ approach to analysing the risks that are specific to oil & gas projects, as well as understanding the various mitigation strategies available.
The half-day course (3 ½ hours), which is delivered by live webinar is led by Ian Cogswell, who shares his knowledge gained from over 25 years’ experience leading and advising on project finance transactions, specialising in the oil & gas sector, and who has recent experience of financing projects across the oil & gas value chain.
The Oil & Gas Industry
- Brief history of the oil & gas industry
- Upstream
- Midstream
- Downstream
- The hydrocarbon value chain
Fundamentals of Midstream Financing
- Natural Gas Liquefaction, Transportation & Regasification
- Structuring an LNG Project
- Pipelines & Storage Terminals
- Capacity & Throughput
- Debt Sizing Methodologies
Fundamentals of Downstream Financing
- Crude oil refining
- The Nelson Index
- Refining margins and the ‘crack spread’
- Petrochemical processing
- Naphtha and ethane cracking
- Debt sizing
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Risk Identification & Mitigation
- Sponsor / Developer Risk
- Construction & Technology Risk
- Feedstock Supply Risk
- Reserve Risk
- Market Risk
- Regulatory Risk
- Environmental, Social & Governance Risk