Long-Term Contracts: A Model for Assessing Their Importance in Financing Natural Gas Projects (Classic Reprint) - Softcover
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Excerpt from Long-Term Contracts: A Model for Assessing Their Importance in Financing Natural Gas Projects
The vast majority of natural gas field development and lng projects are organized and financed using long-term take-or-pay contracts for the sale of the gas. These contracts serve two main purposes. First, they coordinate the plans and commitments of the buyer and the seller. Since natural gas projects typically require large capital investments dedicated to a small set of buyers and since the salvage value of the equipment is a tiny fraction of the investment it is important to obtain a commitment from the buyers before the investment is sunk. Second, the obligations on both sides of the contract-the price terms, the indeces, and the quantity flexibility-allocate the risks of the project among the parties. The first of these two purposes-the need for commitment-is the subject of this paper. We provide a model with which to estimate the portion of a project's value that is secured to the developer through the use of long term contracts for the sale of the gas.
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Long-Term Contracts (Classic Reprint)
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Paperback. Zustand: New. Print on Demand. This book explores the significance of long-term contracts in financing natural gas projects, offering a groundbreaking model to assess their 'strategic value'. The author argues that long-term contracts have traditionally been seen as essential for securing project value, but that increased flexibility in contracting and financing is challenging this assumption. The model presented in this book calculates the different probability distributions over price that sellers can anticipate for long-term contracts and for short-term sales. This enables analysts to assess the likelihood that negotiated prices would fall below the capital charge, and therefore the extent to which long-term contracts contribute to securing project NPV. The author illustrates the model's use with two case studies: an Australian and an Indonesian LNG export project. The results demonstrate that long-term contracts are essential to the value of the Australian project but not to the Indonesian project, highlighting the project-specific nature of this assessment. This book provides a valuable tool for project analysts in the natural gas industry, enabling them to assess the importance of long-term contracts on a project-by-project basis and to identify exceptions to the traditional view of their importance. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Bestandsnummer des Verkäufers 9781332268344_0
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LongTerm Contracts A Model for Assessing Their Importance in Financing Natural Gas Projects Classic Reprint
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PAP. Zustand: New. New Book. Shipped from UK. Established seller since 2000. Bestandsnummer des Verkäufers LW-9781332268344
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LongTerm Contracts A Model for Assessing Their Importance in Financing Natural Gas Projects Classic Reprint
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PAP. Zustand: New. New Book. Shipped from UK. Established seller since 2000. Bestandsnummer des Verkäufers LW-9781332268344
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