The US energy super power: Surging growth and new global challenges (Fully Booked)
Thu 05 Sep 19 at America Square Conference Centre, London

Hosted jointly by CFA UK's Energy Finance Special Interest Group and GARP (Global Association of Risk Professionals)

The US shale oil revolution has created dramatic changes in the global energy landscape. The surge in US energy production is impacting OPEC+ decision making and is changing geopolitical relationships around the world, particularly as the Trump government looks to energy as a foreign policy tool. The globalisation of US energy is also having an impact on trading benchmarks and risk management tools. European energy participants are increasingly impacted by US benchmarks, while new derivative products are emerging to help firms manage their growing exposure to the US energy complex.

This session will provide an overview of the shale revolution and its consequences, both for the geopolitics of energy and for risk management.
 
David Fyfe, Chief Economist, Argus Media, discusses:
• Back story of US shale growth and exports 
• New trade routes and changing export/import relationships for oil 
• Impact on OPEC/WAF and more
• US LNG helping globalise gas markets
• US energy as a foreign policy tool (freedom LNG, trade disputes)
• New pipeline/terminal developments lead to new price benchmarks
 
Using practical case examples, Owain Johnson, Managing Director, Global Head of Research and Product Development, CME Group presents:

• Shale implications for US benchmarks and derivative volumes
• WTI vs Brent – growth vs decline in underlying physical, hence changes to Brent
• Risk management by shale drillers and international importers 
• New risk leads to new derivatives (CME Houston, Argus WTI Light, Argus WCS, LNG product)
• Globalization of US energy leads to new market participants (from Asia, Europe)

Agenda:
Registration: 6:00pm
Presentation with Q&A: 6:30-7:45pm
Networking Reception: 7:45-9:00pm

Speakers
David Fyfe
Chief Economist, Argus Media


David Fyfe is Group Chief Economist for Argus Media based in London. He has over 30 years of oil, energy and commodity market experience.

Prior to joining Argus in April 2019, he spent six years as Chief Economist for global commodity trader Gunvor. That was preceded by ten years at the IEA in Paris, where David headed the IEAís Oil Industry and Markets Division and edited the monthly Oil Market Report. He also worked in energy fundamentals consulting and began his career with an engineering consortium supplying North Sea operators.

David has a BSc in geological sciences and an MSc in energy policy and economics from Imperial College.

Owain Johnson
Managing Director, Global Head of Research and Product Development, CME Group


Owain Johnson's†research and product development team develops new risk management products, as well as ensuring the continued relevance of CME Groupís current suite of key benchmarks. The team also produces original research into financial and commodity derivatives and their underlying markets around the world.

Owain previously served as CME Groupís Managing Director of Energy Research and Product Development where he ensured the integrity of CME Group's existing energy futures benchmarks, which include WTI, Henry Hub, DME Oman, RBOB and NYH ULSD.
††
Within CME Group, Owain was previously the Managing Director of the Dubai Mercantile Exchange as well as Executive Director of CME Group Singapore. Before joining CME Group in 2010, he served as Asia Business Development Manager for Argus Media.

Owain is the author of The Price Reporters: A Guide to PRAs and Commodity Benchmarks and co-edited the Oxford Energy Forumís report on oil benchmarks. Owain is a member of the International Association for Energy Economics and earned his masterís degree from Cambridge University.

When and where?

Date
Thursday 05 September 19

Time
Registration: 18:00
Event: 18:30 - 19:45

Location
America Square Conference Centre, 17 America Square, London EC3N 2LB
View map | View directions

Nearest tube station
Tower Hill / Aldgate
TFL journey planner

Price
Member - ££0
Non-member - ££0
CPD

This is eligible for 1.25 CPD hours