Gas supply and quality are two key variables in forecasting NGL supply. In this session, find out how natural gas is located, extracted, and transported to market. Key topics include:

• How natural gas supply drilling economics and volumes affect NGL production.
• An overview of the natural gas value chain from seismic survey to production.
• Types of gas – all methane is not equal when it comes to NGL content! Learn the difference in NGL yields for different types of gas.
• Why NGL's are extracted from the gas stream prior to delivery into the gas transmission grid; how "merchantability", "hydrocarbon dewpoint", and WOBBE indices affect NGL extraction requirements.

Natural gas processing in "stand alone"gas plants produces most of the ethane feedstock used by the ethylene industry in the U.S. and Canada, as well as most of North America's other NGL supply. Understanding the gas "midstream" business is critical to forecasting NGL supply and prices. This session covers:

• An overview of gas processing technology and how gas processing differs from crude oil refining.
• How gas plants make money – an overview of how gas quality, gas plant technology, gas pipeline quality specifications and local NGL markets interact to affect gas plant profits.
• The economics of ethane recovery – how plant operators decide how much ethane to recover from the natural gas stream, the constraints around ethane recovery from a gas quality and liquids handling standpoint, and how ethane recovery decisions impact facility operators downstream of the plants.
• Processing Contracts – overview of common terms that govern how processing profits are shared between the gas plant and the producers who supply the gas.

BONUS: examples of how plant profits can vary depending on gas quality and processing contract terms.

Gas processing plants usually are located in the producing regions, but most NGL markets are concentrated in industrial areas. This session covers the logistics involved and costs associated with moving the "raw make" unfractionated NGL stream from the extraction point to NGL aggregation, storage and price discovery centers called "Hubs" for separation into components and delivery to end users. You'll learn:

• The difference between local fractionation and hub fractionators and how processors decide which to use.
• The primary areas where the NGL pipeline systems that gather and transport most gas plant production are located.
• To identify risks and opportunities association with owning "downstream" NGL assets.
• To understand and locate pipeline tariff information and how business models can differ between different pipeline companies.

This session provides an overview of crude oil distillation and key refinery process units that produce propane and propylene. You'll learn:

• How much U.S. and Canadian NGL/LPG comes from refining.
• The difference between crude oil refining and gas processing.
• How crude oil distillation works.
• The difference between government statistics and what happens "inside the refinery fence".
• Why refinery fuel balances matter to LPG traders.
• Logistics issues for refiners.
• How to forecast LPG supply without an expensive model.

Once the NGL/LPG is produced, and local markets have been saturated, the balance of the NGL's are moved to market hubs for fractionation, storage, and distribution to other markets. The facilities for handling and storing large volumes of gas liquids are different from those typically found in the crude oil and light products business. Not knowing the limitations can be costly to a new trader or marketer. This session covers:

• An overview of the NGL fractionation process.
• Descriptions and maps of the major hub locations, differences between the markets they serve, and key industry players at each location.
• The difference between a "wet", a "prompt", and an "any" barrel and how logistics impacts prices.
• Why industry inventory reports don't tell the whole story of NGL supply.

This session covers the demand for NGL's and refinery LPG in the gasoline blending markets. Attendees have taken advantage of this material to identify opportunities resulting from the rapidly changing regulatory environment in this market. This session covers:

• The basics of gasoline blending economics and how fuel specifications are designed to achieve environmental as well as engine performance goals
• How isobutane is used in motor gasoline production, and how demand for isobutane can affect normal butane demand as well.
• How changes in motor gasoline specifications have impacted demand for NGL's, particularly butanes:
  • The impact of increasing the target blend volume of ethanol as a result of the renewable fuels regulations.
  • Potential changes on the horizon from Tier 3 regulations.

One product, many names. The "bottom of the gas plant barrel", pentanes plus, is a blend of many molecules. Some call it "natural gasoline", some call it "light naphtha", some call it condensate (in Canada). Gain more insight into the 'heaviest' portion of the NGL product slate and learn more about its highest growth market, diluent. You'll discuss:

• The differences in terminology used to describe C5+ in the gas processing, refining, and petrochemical industries.
• Properties of C5+ that affect its value in target markets.
• An overview of the diluent business and the opportunities it presents for pentane marketers.