Governing International Oil and Gas

Procedure in the event of illness or other valid cause (extenuating circumstances)

If you believe that:
• your performance in assessment or reassessment has been impaired, or;
• you were unable to attend for an assessment or reassessment, or;
• you were unable to submit assessed or reassessed work by the scheduled date due to illness or other valid cause ( as defined in the Procedures Governing Extenuating Circumstances), may apply for extenuation for the relevant component(s) to Unicaf Extenuating Circumstances team (extenuating.circumstances@unicaf.org).
*Once a component has been capped, extenuation does not uncap it.

Learning outcome 1: Demonstrate familiarity with and understanding of the main conceptual issues of the international political economy of the oil and gas industry.

Learning outcome 2: Debate the role of the oil and gas sector in economic development and the impact of emerging competition within the sector.
Learning outcome 3: Demonstrate a critical awareness of the main conceptual issues and their suitability and applicability to critically analyse case-study, industry-focused material.

Learning outcome 4: Develop and express ideas in the form of independent research.

Learning outcome 5: Use information and knowledge effectively to abstract meaning from information and share knowledge.

Learning outcome 6: Understand and apply information and knowledge effectively through in-depth understanding of the effects of changing energy governance.

Task

Natural gas has become a globally traded commodity due to the discovery of conventional and unconventional resources. A characteristic of the natural gas market is the decoupling of the production and the consumer, predominantly due to the trading of natural gas as liquified natural gas (LNG). Considering the international production and trading practices of natural gas and LNG, please provide a discussion of the factors that influence the price of these commodities. Furthermore, comment on the limitations encountered along the supply chain of natural gas and LNG and their consequent effect on the price, and subsequently the present and future trading trends.

Your coursework should include a discussion of the following important points:

1. An introduction to the present state of the global natural gas and LNG market, including the most important suppliers and consumers, and the main ways of trading. In this context, briefly comment on why the LNG market is considered decoupled from the production to the consumer.

2. A statement of the factors, e.g. technology, location, nature of natural gas reserves, politics, that you consider as influencing to prices, and a critical analysis of two or three of them (in the main body of the coursework).

3. A discussion of two or three limitations you consider important in the supply chain of natural gas and LNG and a clear explanation of what their effect is on the price and trading trends (in the main body of the coursework).

4. A conclusion summarizing the key points of your analysis and an informed reflection on the future trading trends of natural gas and LNG.