Fundamentals of the Natural Gas Industry

Presented in partnership with


This comprehensive and clearly explained program is for professionals who are seeking an in-depth understanding of today's North American natural gas industry and want to be up and running to make intelligent and prudent trading and buying decisions. 

Learn how the transportation/delivery infrastructure works and how deals are done. Know who the natural gas market participants are and how commercial transactions occur along each segment of the value chain. Understand and apply your knowledge of how the wholesale natural gas and transportation markets operate and where the new opportunities are in today's dynamic natural gas marketplace.

You will be more confident and benefit from knowing comprehensive nuts-and-bolts fundamentals through to understanding financial transactions and strategies to start making money and avoiding costly mistakes.

Who Attends?

Professionals from natural gas and electric utilities, energy producers, pipelines, municipals, energy marketers, banks, government regulators and industrial companies; energy and electric power executives; new hires; attorneys; government regulators; traders & trading support staff; marketing, sales, purchasing & risk management personnel; accountants & auditors; plant operators, engineers, corporate planners and anyone needing a strong foundation in the U. S. and Canadian natural gas business.


This fundamental level, group-live seminar has no prerequisites. No advance preparation is required before the seminar.                        


Greg Peters


Greg Peters is President, EnVision Energy Solutions and the natural gas consultant to the Midwest ISO and author of several of the MISO’s electric – natural gas infrastructure interdependency studies. Mr. Peters has over 25 years of energy industry consulting and management experience and is an expert in energy products and services marketing and supply planning, procurement and energy management. Mr. Peters' consulting experience includes several years as Manager of Price Waterhouse's National Public Utilities Consulting Services and currently as President, Envision Energy Solutions Company. Envision provides gas, electric and fuel management consulting services to a wide range of industrial, commercial and municipal end-users. Previously, Mr. Peters has had fuel procurement, fuel management and planning responsibilities for Columbia Energy Services Corporation, Equitable Gas Company, and The Peoples Natural Gas Company.

Fundamentals of the Natural Gas Industry Agenda

TUESDAY, November 15th
7:45 am
Continental Breakfast Opens:
8:00 am
Morning Session:
  • • A detailed understanding of all parts of the natural gas value chain, infrastructure components and how the natural gas industry operates across the value chain spectrum.
  • • What natural gas is, how it is created, the different "types" of natural gas based on various factors and sources, terminology, measurements and conversions.
  • • The essential of understanding how gas is used, by whom and what are demand drivers and related issues.
  • • The basics of natural gas production, drilling techniques and economic and market issues around production operations in different types of production basins that impact supply availability.
  • • What does the unprecedented growth of unconventional gas supplies mean for the future of natural gas production and how will it change infrastructures and prices.
  • • The issues and dilemmas the industry faces in obtaining supply from traditional and frontier basins as well as unconventional supply sources.
  • • The basics of gas gathering operations, market and regulatory issues.
  • • What gas processing is, how is operates, NGL extraction flows, the importance of the "frac-spread" and related economic issues in today's market.
  • • The importance of gas quality issues and the economic, operational and regulatory concerns about gas quality and the different concerns along the value chain about gas quality and interchangeability.
  • • The keys parts of natural gas pipelines, how pipelines operate, who the pipeline players are and the significant issues pipeline face in a changing market.
12:00 pm
1:00 pm
Afternoon Session:
  • • The importance of storage, the different types, operations and why storage development is a "hot" issue.
  • • How LNG storage and import terminals work and environmental and other concerns
  • • Significant LDC physical plant-related operations, how they work, LDC economic and rate worries and regulatory trends in today's market.
  • • Who regulates what, where, how and why and how FERC policy, major Orders and regulations have evolved into today's "open access" environment.
  • • How natural gas delivery and storage is regulated across the value chain and how it evolved to today's "open access" environment.
  • • Significant FERC regulatory initiatives, policies and Orders that have transformed the industry and currently "hot" policy and regulatory issues that may significantly change how the industry operates and the information it collects and disseminates.
  • • The impacts of FERC's policies on new pipelines, expansions and capacity.
  • • Evolving State regulatory concerns, issues and the changing role of state regulators.
  • • Overview of regulated rate components and rate design and new rate and policies on the horizon.
  • • The fundamentals of Certificate and Rate Proceedings and how to understand capacity matters and pipeline tariffs, transportation services, agreements and rates.
4:00 pm
Day One Ends:
WEDNESDAY, November 16th
7:45 am
Continental Breakfast Opens:
8:00 am
Program Begins:
  • • How to assess transportation services and options and understand the wide range of transportation services and agreements.
  • • How the natural gas transportation and capacity release business is handled along each segment of the delivery value chain and how it operates.
  • • The essentials of "locational" basis differentials and the changing dynamics of transportation capacity markets due to unprecedented infrastructure growth.
  • • The details of gas transportation, pooling, nominations, confirmations, scheduling, receipt and delivery point priorities and balancing through the delivery chain.
  • • What PDAs, OBAs, OFOs, etc., allocations, penalties, interruptions and curtailments are, and why they are important.
  • • The terminology, concepts and mechanics of physical natural gas trading, wholesale market centers, and pool-to-pool virtual title transfers.
  • • The changing dynamics of capacity markets with new production sources, pipelines, storage and LNG projects and the impacts on overall gas transactions, including commodity pricing, basis differentials and pipeline capacity.
  • • Who the key commercial value chain participants are and how they manage their respective segments and their different objectives.
  • • How marketers put together and process deals through each step in the "Front, Middle and Back Offices".
  • • How wholesale gas trading is done at physical market centers versus electronic exchanges and their inter-dependencies.
  • • Natural gas pricing concepts and mechanisms and the essentials of locational basis, commodity pricing and overview of the different types of price hedging tools.
  • • The essentials of wholesale natural gas commodity pricing, factors impacting price volatility and retail commodity price components.
  • • The major types of transaction risks, the fundamentals of price risk management and risk assessment in commercial operations.
  • • Natural gas pricing concepts and mechanisms and the essentials of locational basis, commodity pricing and an overview of the different types of price hedging tools.
  • • How to apply pricing strategies, market prices, risk profile and load requirements for gas procurement strategies and requirements.
1:00 pm
Program Concludes:

Ticket Info


Event location

NYC Torch Club (NYU Campus)

18 Waverly Place

New York, NY, US


What is the dress code? 

Business casual

What is your cancellation policy?

Cancellations for this program are eligible for a full refund, less a $150.00 administrative fee, if received at least 15 business days prior to the start of the program. Cancellations received after that date but at least 5 business days prior to the start of the program receive a credit in the amount of the registration fee, less a $150.00 administrative fee, to attend another Knowledge Center program within 13 months. Cancellations received fewer than 5 business days prior to the start of the program are not eligible for a refund or credit.

Attendee substitutions from the same company may be made at any time.

In the event of a cancellation from a group discount, refunds or credits are issued beginning with the most heavily discounted price, minus a $150.00 administration fee.

"No shows" - or those who cancel within 15 days of the program - and have registered under the Invoice option, remain liable for the full program fee.

The Knowledge Center reserves the right to cancel/change programs, content, speakers or venue at any time. The Knowledge Center reserves the right to make portions of the program registration information available to program sponsors. The Knowledge Center will not be held liable for any costs incurred by registrant due to individual registration cancellation. In the event that a seminar is cancelled due to inclement weather, faculty cancellation or force majeure, the Knowledge Center will refund the registrant's tuition in full, however the Knowledge Center will not be liable for incidental or consequential out of pocket expenses incurred by the registrant. If you have questions regarding the Knowledge Center's refund, complaint or program cancellation policy, please call us at (434) 951-7786.

Registrant, as an individual person attending a Knowledge Center conference, seminar, or other program, hereby grants permission to the Knowledge Center to use and publish his or her image, likeness, or testimonials collected in connection with the program for advertising and trade purposes in connection with the Knowledge Center’s conferences, instructional, and/or marketing activities.

Continuing Education Credits

12 credit hours
Be aware that state boards of accountancy have final authority on the acceptance of individual courses for CPE credit. As of January 1, 2002, sponsored learning activities are measured by program length, with one 50-minute period equal to one CPE credit. One-half CPE credit increments (equal to 25 minutes) are permitted after the first credit has been earned in a given learning activity. You may want to verify that the state board from which your participants will be receiving credit accept one-half credits. PGS Energy Training is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: CPAs interested in attending any seminars should contact our offices for details on CPE credits granted and any prerequisite requirements. PGS telephone seminars are eligible for CPE credits only if seminar participants use the printed seminar slides - not the Internet posted slides.
12 credit hours
PGS Energy Training is registered with the Global Association of Risk Professionals as an Approved Provider of continuing professional education (CPE) credits. PGS Energy Training has determined that this program qualifies for 12.0 credit hours. If you are a GARP CPE participant, please record this activity in your Credit Tracker at Please inform PGS Energy Training that you are a GARP CPE participant upon seminar registration. The Global Association of Risk Professionals (GARP) is a not-for-profit membership association dedicated to preparing professionals and organizations for making better-informed risk decisions. GARP's membership represents more than 150,000 risk management practitioners and researchers at academic institutions, banks, corporations, government agencies, and investment management firms in 195 countries and territories. GARP administers the Financial Risk Manager (FRM) and Energy Risk Professional (ERP) exams certifications recognized by risk professionals worldwide. Visit