Renewable Green magazine Apr2020 Offshore wind famrs, PV geothermal hydro green buildings recycling solar sustainability upcycling storage tidal energy waste to energy wind power photovoltaic GineersN
GineersNow Renewable Green Leaders magazine is featuring the latest trends in offshore wind farms. Read the latest GineersNow articles and stories about biothermal, geothermal, energy efficiencies, hydropower, green buildings, recycling, solar, sustainability, upcycling, storage, tidal power, waste and wind energy at www.gineersnow.com Follow our engineering magazines, social media and blogs: Yumpu https://www.yumpu.com/user/gineersnow ISSUU https://issuu.com/gineersnow Linkedin https://www.linkedin.com/company/gineersnow Twitter https://twitter.com/gineersnow Facebook https://www.facebook.com/GineersNow/ Instagram https://www.instagram.com/gineersnow/ Tumblr https://www.tumblr.com/blog/gineersnowtv Vimeo https://vimeo.com/gineersnow Youtube https://www.youtube.com/channel/UCaYoLlHHl6oBR3pXC9lY9eg
GineersNow Renewable Green Leaders magazine is featuring the latest trends in offshore wind farms. Read the latest GineersNow articles and stories about biothermal, geothermal, energy efficiencies, hydropower, green buildings, recycling, solar, sustainability, upcycling, storage, tidal power, waste and wind energy at www.gineersnow.com Follow our engineering magazines, social media and blogs: Yumpu https://www.yumpu.com/user/gineersnow ISSUU https://issuu.com/gineersnow Linkedin https://www.linkedin.com/company/gineersnow Twitter https://twitter.com/gineersnow Facebook https://www.facebook.com/GineersNow/ Instagram https://www.instagram.com/gineersnow/ Tumblr https://www.tumblr.com/blog/gineersnowtv Vimeo https://vimeo.com/gineersnow Youtube https://www.youtube.com/channel/UCaYoLlHHl6oBR3pXC9lY9eg
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A P R I L 2 0 2 0
N E W S
Trina Solar recognized
as “Top Performer”
Asia-Pacific $10.6
Bn Outdoor Lighting
Market to 2024
JinkoSolar Supplies
351MW of Solar
Modules
44 48 52
TS CIGS SERIES
HIGH-EFFICIENCY
CIGS SOLAR MODULE
120 W / 125 W / 130 W
Features
• Advanced proprietary CIGS thin-film technology
• Plus sorting at +5 W to -0 W
• Low temperature coefficient provides yield benefits
• Aesthetically appealing all-black appearance
• Framed module designed for easy use with
industry-standard mounting systems
• Etched, unchangeable serial numbers for full
traceability of each module
• Free module recycling
Quality and Safety
• UL and IEC certified
• Rated for snow and wind loads up to 2,400 Pa
(5,400 Pa option pending)
• Free of potential induced degradation (PID) effects
• Salt mist and ammonia corrosion
test certification (pending)
• Manufactured at an ISO 9001:2008, ISO 14001 and
OHSAS 18001 certified facility
Warranty
• Product warranty*: 10 years for material and workmanship
• Power output warranty*: 90% at 10 years and 80% at 25 years
of minimum rated power output
A TSMC Company
www.tsmc-solar.com
* This datasheet is for informational purposes only. No rights can be derived from the information contained herein.
For detailed warranty information, please consult TSMC Solar’s module warranty, which is available upon request.
E D I T O R ‘ S N O T E
A
lot has been said
about the problem
with energy, but what
people do to mitigate
remains to be unclear. It could
be that people don’t have
the capacity to address the
problem or else; they are not
fully informed!
I find this article very
informative and will surely
provide a lot of significant
inputs to the readers.
After reading this article, I
understood that we could
do something to address the
problem of energy shortagethrough
building offshore wind
farms.
Indeed, offshore wind
farm is a better alternative
energy source. This source
of renewable energy does
not emit greenhouse gases;
thus, it does not pose a risk
to health. I also realized that if
more countries use this kind of
energy source, there will be no
more monopoly! Keep in mind
that self-sustenance is a major
factor in a country’s success.
If countries set up their own
offshore wind farms, it’s a
huge saving as well. This is
because they will not any more
purchase electricity coming
from other countries that are
too expensive.
The mass installation of
offshore wind farms will also
open more jobs. From the
initial construction, down
to the routine maintenance
check-ups, you will surely help
Offshore Wind Farm
Technologies
people get a decent income.
However, I believe that all of
these will be realized only if
the leader of a country has
an unyielding will. Because
choosing this kind of energy
source would actually mean
major financial setbacks to
those investors who master the
trend of mainstream energy
sources such as geothermal
and hydrothermal power
plants.
But amidst the selfish motives,
the welfare of the greater
public must prevail. After
all, energy scarcity is a very
serious concern. I hope that
this article will be shared
gazillion times so that all
people on this planet will know
the significance of offshore
wind farms!
4
Regional Office: LG Electronics Gulf FZE, P.O Box 61445, Dubai. Tel: +971 4 279 9222, UAE, Mr. Amjad Abu Alika, Tel: +971 50 450 9808, email: amjad.abualika@lge.com; Fortune International
Trading LLC, Mr. Wail Halbouni, Tel: +971 50 481 3570, email: fortintl@emirates.net.ae; Ghantoot Trading, Mr. Nour Haboush, Tel: +971 50 109 4109, email: nour.h@ghantootgroup.ae; District
Cooling Company, Mr. Ahmed Henedi, Tel: +971 50 658 4832, email: ahmed@districtcoolingcompany.com; Al Yousuf Electronics, Mr. Moitra, Tel: +971 50 457 6170, email: pmoitra@alyousuf.com;
Bahrain, AJM Kooheji and Sons, Mr. Jayachandran, Tel: +973 36888801, email: v.jayachandran@ajmkooheji.com: Kuwait, Al Babtain Air Conditioning & Refrigeration Co., Mr. Naji Kataya, Tel: +965
5 051 5771, email: nkataya@albabtaingroup.com kw; British Link Kuwait, Mr. Imad Rhayel, Tel: +965 5 157 1229, email: irhayel@blk.com.kw; Oman, Oman Gulf Enterprise, Mr. Narender Kumar,
Tel: +968 9 747 4505, email: narenderk@otegroup.com; Aspire Projects and Service, Mr. Vivek Wagh, Tel: +968 99357694, email: vivekwagh@aspireoman.com; Azerbaijan, GSS.AZ, Mr. Zeka
Gasimov, Tel: +994 55 260 6665, email: zeka.gasimov@gss.com.az; Al-Con Maxiwell Group, Mr. Vagif Alexperov, Tel: + 994 50 216 2092, email: maxiwellbaku@inbox.ru; Armenia/Georgia, ARAY
Gulf, Mr. Vilson Melikjanyan, Tel: +374 9 307 7755, email: vilson@aray.am; Yemen, Modern House Exhibition, Mr. Khaled Jabr, Tel: +967 71 172 0202, email: mail@mhe-yemen.com; Pakistan,
Iceberg Industries (Lucky Goldstar), Mr. Imran Jamil Khan, Tel: +923 21 277 6100, email: ceo@icebergindustries.net
C O N T E N T S
8
Lincoln Electric as a Global
Provider of Comprehensive
Welding Solutions
16
The Importance of UPS for
Industrial and Commercial
Companies in the
Philippines
24
Offshore Wind Farm
Technologies
44
Trina Solar recognized as
“Top Performer” module
manufacturer by PVEL/DNV
GL, fifth time in a row
48
Asia-Pacific $10.6 Bn
Outdoor Lighting Market
to 2024 - Shift from
Conventional Lights Toward
Solar Powered Lights
52
JinkoSolar Supplies 351MW
of Solar Modules for One of
the Largest PV Projects in
Asia Pacific
56
Chevron Announces
Fourth
Quarter 2019 Results
60
PTT’s CAFÉ AMAZON
PHILIPPINES EYES 20
MORE STORES IN 2020
64
PETRONAS’ Breathrough
Technology In Structure
Health Monitoring
68
CNOOC Limited Announces
its 2020 Business Strategy
and Development Plan
72
Does Industry 4.0 need a
different kind of leader?
76
Industry
perspectives
6
FEATURE STORY
Lincoln Electric as a Global
Provider of Comprehensive
Welding Solutions
Spatter, porosity, deformation, cracks,
these are but a handful of common
welding problems those in the
global welding industry face. These
problems, coupled with budget constraints
and preliterate tools and technology, require
the industry to produce new and efficient
innovations as soon as possible. Fortunately,
Lincoln Electric has been steadily rising
since its advent in the early days of the
welding industry. The company wears two
distinct hats: both the hats of a leader and
innovator in the design and production of
arc welding equipment and consumables.
Aiming to revolutionize and step into the
future with better equipment, Lincoln
Electric is truly envisioning less problematic
work environments and decreased overall
problems for the whole industry.
Much like the efficiency of their new
products, Lincoln Electric’s partnership
with Co Ban Kiat Hardware Inc. is also
coherent without a fault. Both engineering
and gadgetry giants share a deep
commitment to the distribution of world
class industrial solutions that upgrade each
and every Filipino’s living standard. This
principle acts as the foundation of both
pioneering hardware companies. It is that
same ideology that moved Lincoln Electric
to allow Co Ban Kiat Hardware to acquire
them, co-create, and cooperate with them
for over a century. Together, they have been
widening their horizons and penetrating
the metal and welding business industries
worldwide.
8
Thanks to the advanced products of Lincoln
Electric and the centennial existence of Co Ban Kiat
Hardware Inc. as an unsleeping distributor of their
products, there are brighter days for the automotive
and transportation, general and heavy fabrication,
maintenance and repair, offshore construction,
pipeline and pipe mill integration, power generation
and process, different forms of energy generation
(liquefied natural gas, nuclear, thermal, and wind),
pressure vessel fabrication, ship building, and
structural and construction industries. Truly, this
partnership caters to a vast array of industries in
a country that aims to continually transform the
hardware arena with excellent service.
While it is certain that Lincoln Electric holds
many advanced equipment in its arsenal, there
are a handful of tools that can be called best of the
best in the categories of plasma cutting equipment,
submerged arc welding equipment, welding
simulation, engine drives, commercial inverters,
and welding consumables.
The Tomahawk 1500 is a top tier plasma cutter.
With the ability to finely cut artwork and fabricate
steel parts in a production setting, the Tomahawk
1500 is a simple albeit reliable machine that does
not back away from difficult jobs. It is versatile,
arming itself with a single-phase or 3-phase, 200
to 575-volt input power for cutting, gouging, and
grid-cutting tasks anytime, anywhere.
Those dealing with submerged arc welding
equipment category are quick to choose the Power
Wave AC/DC 1000 Subarc Welder to help them
with their jobs. It delivers Waveform Control
Technology to the SAW category. Users are able to
choose constant current or voltage operation while
adjusting any variable frequency and amplitude.
Truly, this machine results in increased weld speeds,
higher quality welds, and improved efficiencies
either in single or multi-arc environs.
Those training to be master welders may practice
with Lincoln Electric's virtual trainer, the VRTEX
360+ Dual User Virtual Reality Welding Training
Simulator. This virtual trainer adds a touch of fun
to an otherwise serious and somewhat precarious
9
task. Its top feature is its dual stands that allow
two students to train simultaneously with differing
processes, coupons, joints, and welding procedure
specifications. These students may practice flat,
horizontal, vertical, and overhead 5G and 6G on mild
and/or stainless steel, or aluminum. It promises its
users an immersive experience with its hyper-realistic
weld puddles, visually and audibly responsive features.
Needless to say, this machine helps welders learn when
to adjust welding techniques. Proper welding training
can significantly reduce cost of repetitive mistakes and
avoiding accidents in the work place.
The Dual Maverick 200/200X is perhaps one of the best
engine driven welders that Lincoln Electric has to offer.
With two welding outputs in one machine, this quiet
welder can work efficiently and quickly. It also sports
a new, fuel saving feature for resource conservation,
allowing the user to do more tasks in an extended
period of time. As an added bonus, When used with
a CrossLinc compatible device, voltage or current can
be controlled at the wire feeder and TVT automatically
compensates for voltage drop in the system, ensuring
welders the set voltage.
While there are more Lincoln Electric products that
deserve every second und er the limelight, one thing is
for certain: they all aim to help workers in the welding
and metallurgy industry to be at the very top of their
game. Much like Lincoln Electric, their partner, Co
Ban Kiat Hardware Inc. is also passionate and glad to
distribute their products to facilities and organizations
that may need them so long as they promise to build
and create for the betterment of this society.
Where to Buy?
Co Ban Kiat Hardware Inc.
is the largest authorized
distributor of the best
industrial hardware
solution brands in the
Philippines.
To shop online,
visit https://www.cbkhardware.
com/
Co Ban Kiat
Hardware, Inc.
Ground Floor, Cobankiat
Building II, 231 Juan Luna St.
Binondo Manila, Philippines.
Phone +632 8243-1931
Phone +632 8243-5263
Phone +632 8894-6561
Coby's Designer
Center
Unit 467 level 4
Shangri-La Plaza Edsa
Corner Shaw Boulevard
Mandaluyong City, Philippines
Phone +632 86364895
12
About CBK Hardware
For almost a hundred years, a family’s surname has become synonymous to the country’s biggest hardware
supply company. Co Ban Kiat Hardware Incorporated, of the Cobankiat family has a regular client network
of more than 1,500 industrial organizations; 1,600 traditional community hardware stores, and 584 home
building specialty chain of stores across Luzon, Visayas and Mindanao. This ever-growing conglomerate
traces its humble roots to Manila Chinatown, as a pioneer enterprise started by family’s patriarch, Mr.
Cobankiat in 1920. Despite the ruins of World War II, the business goes back to its feet in 1948, rebuilding
a storefront from the very same spot where it was known for three decades.
This ever-growing conglomerate traces its humble roots to Manila Chinatown, as a pioneer enterprise started
by family’s patriarch, Mr. Cobankiat in 1920. Despite the ruins of World War II, the business goes back to its
feet in 1948, rebuilding a storefront from the very same spot where it was known for three decades.
While the Filipinos continue to rebuild their lives post war, CBK Hardware sees the opportunity to introduce
the retail concept once unheard for in hardware industry. The Hardware Workshop Store is the fruit if this
endeavor. CBK Hardware further cemented its legendary distribution channel with the creation of Coby’
Design Center in Edsa Shangi La in 1996, a specialty store that caters to discriminating taste of modern
Filipinos.
In 1997, Mr. Johnny Cobankiat, the 4th generation Cobankiat leader, set another milestone for the company
when he brings a franchise of Ace Hardware USA to the Philippines, and signs up CBK Hardware as one of
its major suppliers. This further expanded into delivering quality world class products nearer to families of
Filipino overseas workers in the countryside.
A century’s excellence can quickly pass, and guided by the vision to be the largest network supplier of the
biggest global brands in the hardware industry, CBK Hardware resolve to source the best products to supply
its customers anytime and every time.
13
WE ARE NOW
ACCEPTING SPONSORS
Dubbed as the “Oscars” of the engineering, industrial and
technology, the GineersNow Awards (2020 Asia) highlight
corporate and individual achievement, visionary leadership,
and impeccable performance in 19 categories.
To sponsor this black-tie gala awards night, contact
Ms. Ems at +63 917 1792828 ems@gineersnow.com
F E A T U R E
S T O R Y
The Importance of UPS for Industrial and
Commercial Companies in the Philippines
For most residential areas, power cuts are no more than an
inconvenient annoyance. But for huge manufacturers and
industrial plants that rely significantly on power supplies, it is a
serious matter. After all, power is what makes their facilities tick.
This makes power outages, sags, and surges one of their biggest
enemies on the field. Even a minimal power outage on their
operations can cause them thousands or even millions of US
dollars of lost. In fact, the power generation giant General Electric
revealed that around 1/3 of businesses are doomed to lose more than
thousands of US dollars within one hour of losing their electricity.
This figure could translate to millions of dollars for bigger companies
like pharmaceuticals, semi-conductor and F&B processing plants.
That said, industrial factories and manufacturers are notably
16
susceptible to power supply failures (or
brownouts). To specify, industries in
the car and electronic production, along
with those that produce food, drink, and
pharmaceuticals, can suffer from major
problems caused by even a ten-second
loss of power. This does not only mean a
temporary pause in production, but it also
represents a looming damage to both the
final products and their equipment and
machinery; not to mention the money and
time spent in correcting these damages
done.
The extent of these damages can
sometimes be challenging to record.
Some electronic control systems that were
configured solely for your application may
tend to go back to default and require
reprogramming after the power returns.
Productions in the critical stages that were
interrupted by power loss can result to
ruined products and waste of expensive
materials. The more automation is
integrated into the work field, the greater
the impact of power supply anomalies to
the corporation.
But power outages are not the only problems
in industrial plants, but voltage drops and
power sags also play a significant role. Out
of all the power supply anomalies that
manufacturers experience, more than 92
percent trace back to voltage ‘sags.’ This
makes them the most common threat for
most businesses.
Power sags, along with power ‘spikes’, can
do unimaginable damages to equipment,
especially computers and servers. Back in
May 2017, British Airways experienced a loss
of no less than $100 million just because of a
momentary power supply event. The incident
restarted their critical data center, ending
up to approximately 800 of their London
Gatwick flights being cancelled.
17
F E A T U R E
S T O R Y
Although technology is advancing, power supply
problems remain a threat in the industry and
are recorded to be worsening both in frequency
and severity across the globe. The USA noted an
increase of 50% every five years on the average
number of power outages between 2000 and
2014. With this steady rise of power supply
anomalies, many facilities and corporations
are now installing power protection systems to
combat these problems, protecting both their
equipment and productivity from the surges,
sags, and spikes of the age-old and overworked
power grids.
This is where the NuPON Technology
Philippines Corporation (NTPC) comes
to play. Being one of Asia’s leaders in both
engineering services and integrated solutions,
NuPON Technology offers a wide range of
Uninterruptable Power Supply (UPS) solutions.
The ALP Series 3-Phrase is designed to sustain a
smooth-running power for 20KVA to 320KVA
machineries. Its plug and play modular design
makes it quicker and more convenient to
maintain. The MD Series, on the other hand, is
meant to offer a power range of 5kVA to 15kVA
and can give manufacturers a back-up time of 13
to 18 minutes at full load. For smaller equipment
in the lines of 1kVA to 10kVA, the T3 Series
is the perfect fit as it features a true on-line
double conversion technology for high level of
protection.
Although varying in features and size, these
products are meant to protect sensitive
equipment and machineries from power supply
anomalies. With their well-designed features,
20
they are capable of correcting voltages in an
instant without relying solely on the main
grid, ensuring a clean and reliable power
supply for your systems. These units are also
created to react instantly and efficiently to
any power supply changes, including voltage
disturbance and surges.
The most common industry to use of UPS
traces back to data centers and computer
systems, although any other company in the
industrial sector can benefit significantly
from investing in a backup power
supply. UPS suppliers in the Philippines,
including the NuPON Technology, are
committed to produce tailor-fit UPS for
countless of industries, such as the fields
of telecommunications, medical, and even
aerospace.
Different Types of UPS
Industrial UPS
These are typically installed in an industrial
setting, in the likes of factories and plants.
Medical UPS
These are critical UPS systems installed in
medical centers and hospitals, serving as
back-up supplies for life-support equipment.
Computer and Communication System
These UPS systems are typically found in
phone companies and server farms.
High Temperature
These types of UPS can withstand
high-temperature situations.
For more information on NuPON
Technology and their products,
you may contact these numbers:
NuPon Technology Head Office
Filsyn Corp Compound Brgy. Don Jose, Santa
Rosa City, 4026 Laguna, Philippines.
Tel: +63 49 530-1879
Tel: +63 49 530-2329
Tel: +63 49 530-1879
Email: ntpctmsg@gmail.com
WhatsApp: +639178675324
Website: www.nuponcorpphils.com
Cavite Branch
The Arcade Bldg. Blk 5 Stl 9&10, Holiday
Homes, Brgy. Biclatan, Gen. Trias Cavite 4107
Tel: +63 46 512-0982
Tel: +63 46 512-0979
Subic Branch
83A 14th St., New Kalalake, OC
Tel: +63 47 223-8894
Clark Branch
Apartment#5 Jasmin St, Pineda Subd. Dau,
Mabalacat, Pampanga
Tel: +63 45 625-0162
Cebu Branch
158 Sangi Road, Pajo. Lapu-lapu City Cebu,
Philippines 6015
Tel: +63 32 520-3285
Baguio Branch
#71 Sarok Road Camp 7 Baguio City
Tel: +63 74 246 2391
21
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Localized shortages, market manipulation,
and atrocities are some of the major
causes of the energy crisis in the world.
And this is a serious concern that people
must address in no time. Otherwise, more than
7 billion people will go into war just to take
control of a single energy power plant.
Fortunately, there are lots of ways to offset the
energy scarcity. One of the most popular now
is the use of offshore wind farms. But what
are offshore wind farms? How they produce
significant energy output?
25
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S T O R Y
Offshore wind farms, sometimes called as offshore
wind energy, pertains to the construction of several
wind farms on top of the continental shelf of oceans.
Offshore wind farms are considered as a renewable
energy source; thus, there will be no greenhouse
gas emission. If a country invested in building
more offshore wind farms, this will also mean selfsustenance
and will bring huge savings to the
government.
Recently, the use of offshore wind farms as an
alternative energy source did make very good
rounds online. A lot of people talk about offshore
wind farms after research revealed that building more
wind turbines off the shore is the most effective and
efficient way to buffer the immense problem of energy
scarcity.
According to the International Energy Agency (IEA),
the advent of technology has made the construction
of offshore wind farms way easier. IEA highlighted
that unlike before that you really need to go to the
deepest part of the ocean to erect wind turbines, you
can do it now with just 37 miles distance from the
28
coast. Also, no need to go to find the deepest part of
the continental shelf, since offshore wind farms now
can operate on waters below 60 meters deep.
These are some of the reasons why offshore wind
farms have become the hottest topic online. People
find this development as a milestone to address the
energy shortage problem. And of course, to have a
cleaner alternative source of energy.
But despite the potentials, Fatih Birol, IEA’s executive
director, said that a full reception of the viability of
the offshore wind farms is still far from reality. In fact,
data of IEA showed that only 0.3% of the total global
power generation is yielded from offshore wind farms.
But Birol noted that this situation would change soon.
Especially so that more people now have access to
the internet, making them fully informed about the
advantages of offshore wind farms.
Based on IEA’s projection, in the next 20 years, the
offshore wind farms will become a $1trillion industry.
29
32
Based on IEA’s projection, in the
next 20 years, the offshore wind
farms will become a $1trillion
industry. In other words, energy
production from offshore turbines
will increase 15 folds.
33
36
According to the International
Energy Agency (IEA), the advent
of technology has made the
construction of offshore wind farms
way easier.
37
40
In other words, energy production from offshore
turbines will increase 15 folds.
The Agency even highlighted that offshore wind
farms would lead to the next energy revolution.
But how do offshore wind farms can gain this kind
of dominance? What are the turning points that will
make people realize that it is about time to build
offshore wind farms? Just read on to know the
answers.
Why Offshore Windfarm is a Better
Alternative Source of Energy
• Clean. As mentioned earlier, offshore wind
farms yield renewable energy. In other words,
there will be no emission of greenhouse gases
in its operation. Indeed, this is a game-changer
considering that greenhouse gases are very
harmful to human beings. Respiratory tract
infections, asthma, rhinosinusitis, and chronic
obstructive pulmonary disease are some of the
ailments that you can get once you frequently
inhale greenhouse gases.
• Do not Compromise Water. Unlike hydrothermal
energy plant, offshore wind farms do not
contaminate water. You can expect that there will
be no hazardous particulates that will be integrated
into the body of water.
• Cost-Effective. The construction of offshore wind
farms is also lesser compared to the other power
plant. In 2018, the average construction cost of
one offshore wind farm (GW) was more or less $4
billion, this account to around $3,300 per kilowatthour.
This cost is way lesser compared to the other
power plant that cost up to $5,000 kilowatt per hour
(geothermal power plant).
• Reliable Domestic Energy Source. Installation
of more offshore wind farms also means
‘independence.’ In other words, you don’t need
to deal (sometimes people are very hard to deal
with) with some of the major energy importers in
the Middle East, Europe, or Southeast Asia. If you
can address domestic energy consumption without
asking for help from other countries, the people will
surely have a self-pride!
-end-
41
NEWS
Trina Solar recognized as “Top
Performer” module
manufacturer by PVEL/DNV GL,
fifth time in a row
Trina Solar, the world
leading global PV and
smart energy total
solution provider, was
recently been recognized as the
“Top Performer” among global
PV module manufacturers by PV
Evolution Labs (PVEL) and DNV
GL. The company is one of only
two PV module manufacturers
with worldwide reach to garner
the prestigious recognition for
the fifth consecutive time since
the Top Performer award was
founded.
The recognition of “Top
Performer” is based on PV
Module Reliability Scorecard
released by PVEL and DNV GL.
The Scorecard is one of the most
comprehensive comparisons
of PV module reliability test
results publicly available on the
market today. As an integrated
certification program with a
focus on module reliability and
power generation performance,
the test comprises 2-4x IEC
thermal cycling, damp heat,
dynamic mechanical load,
humidity-freeze and PID
attenuation tests.
44
Trina Solar quality director Zhao
Mengyu said, “It is encouraging
to see that Trina Solar has been
recognized as a Top Performer
for the fifth time in a row.
Rigorous raw materials control
and production line management
processes ensure the high
reliability of our modules. Trina
Solar is committed to providing
customers with higher-reliability
and higher-value PV modules.”
The head of Trina Solar’s
module reliability assurance
center added, “We carry out
several rounds of comprehensive
ongoing reliability tests (ORTs)
during the materials introduction
process. Trina Solar evaluates
both materials and modules
during its ORT process with
more frequent ORTs for key
components, such as packaging
materials and PV backsheet,
with the aim of ensuring
comprehensive and strict control
over the materials and products
in mass production.”
In terms of the production line
manufacturing process, Trina
Solar carries out a process quality
control across the value chain.
Nearly 100 control points are
deployed for the entire silicon
wafer and cell production
processes, while over 100 control
points are configured for the
overall module production
process.
45
ENERGY FROM WASTE
NEWS
Asia-Pacific $10.6 Bn Outdoor
Lighting Market to 2024 - Shift
from Conventional Lights Toward
Solar Powered Lights
The “Asia-Pacific Outdoor Lighting
Market by Lighting Type, by
Component, by Application, by
Distribution Channel, by Country
Market Size, Share, Development, Growth, and
Demand Forecast, 2014-2024”
Asia-Pacific (APAC) outdoor lighting market is
predicted to attain a size of $10.6 billion by 2024,
progressing at a CAGR of 11.1%
This is attributed to the increasing government
initiatives promoting energy efficiency and the
development of smart, LED-based outdoor
lighting systems. In the APAC region, the growing
number of smart city projects is creating ample
opportunities for the players in the market.
On the basis of lighting type, the APAC outdoor
lighting market is divided into fluorescent lights,
light-emitting diode (LED) lights, high-intensity
discharge (HID) lamps, and plasma lamps.
Among these, the LED lights category is projected
to witness the fastest growth during the forecast
period. This is ascribed to the rising demand
for LED-based lighting in various applications
areas, especially highways, stadiums, and tunnels.
Moreover, countries such as India, China, and
South Korea are offering subsidies to users to
replace incandescent lights with LEDs.
48
The APAC outdoor lighting market is classified
into retail and commercial distribution channels.
Of these, in 2018, the commercial channel held
the larger revenue share in the market due to
the escalating demand for LED-based street
lights in commercial spaces, such as parking
lots, highways, airports, jogging tracks, bridges,
and streets. End users including government
organizations, contractors, and private builders
prefer to buy lighting products directly from
the manufacturers, leading to the growth of this
category.
The APAC outdoor lighting market is expected
to register the fastest CAGR in India during
2019-2024 owing to the introduction of
smart lighting solutions, advent of intelligent
lighting technologies, and rapid upgradation
in outdoor lighting systems in the country. The
eco-friendliness and cost-effectiveness of LED
lights along with the development of smart
cities are boosting the adoption of such lights
in the country. Additionally, the rising number
of LED lights projects in areas such as Delhi,
Maharashtra, and West Bengal are bolstering the
sector in India.
Increasing government initiatives in APAC
countries to promote energy conservation and
efficiency are strengthening the growth of the
APAC outdoor lighting market. There are various
energy-efficiency projects lined up in the APAC
region, which can decrease greenhouse gas
emissions and thermal pollution. For instance, in
2015, the Indian government launched the Street
Light National Programme (SLNP) to encourage
the use of energy-efficient lighting products in
the country. Under the project, the government
aimed to replace 35 million conventional lights
with LED lights.
Furthermore, in 2016, the Institute of Public
Works Engineering Australasia (IPWEA) and
the Government of Australiajointly launched the
Street Lighting and Smart Controls Programme
to encourage the adoption of LED lights to raise
energy efficiency. Therefore, such initiatives to
minimize energy consumption are boosting the
APAC outdoor lighting market growth.
49
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NEWS
JinkoSolar Supplies 351MW of
Solar Modules for One of
the Largest PV Projects in
Asia Pacific
JinkoSolar Holding Co.,
Ltd. (the “Company,” or
“JinkoSolar”) (NYSE: JKS),
one of the largest and
most innovative solar module
manufacturers in the world,
today announced it has supplied
Power Construction Corporation
of China with 351MW of solar
modules, which were installed at
the Hồng Phong solar PV plant
in Vietnam, one of the largest PV
projects in the Asia Pacific region
to date (the “Project”).
Located in Hồng Phong, Bình
Thuận Province, Phase 1A and
1B of the Project were recently
integrated into the national grid
and will generate an estimated
annual supply of 520 million
kWh of electricity from solar
energy, saving 175,000 tons
of standard coal and reducing
carbon dioxide emissions by
439,000 tons annually.
Mr. Gener Miao, Chief
Marketing Officer of JinkoSolar,
commented, “We are very proud
to be the chosen supplier for the
largest PV project in Asia. This
project will generate ample clean
energy for Vietnam and forms
a key part of the government’s
long-term plan to build a solid
foundation for the renewable
energy sector in Vietnam. This
means more affordable and
clean energy for the people of
Vietnam.”
About JinkoSolar Holding
Co., Ltd.
JinkoSolar (NYSE: JKS) is one of
the largest and most innovative
solar module manufacturers in
the world. JinkoSolar distributes
its solar products and sells
its solutions and services to a
diversified international utility,
commercial and residential
customer base in China, the
United States, Japan, Germany,
the United Kingdom, Chile,
South Africa, India, Mexico,
Brazil, the United Arab Emirates,
Italy, Spain, France, Belgium,
and other countries and regions.
JinkoSolar has built a vertically
integrated solar product value
chain, with an integrated annual
capacity of 9.7 GW for silicon
wafers, 7.0 GW for solar cells,
and 10.8 GW for solar modules,
as of December 31, 2018.
JinkoSolar has over 12,000
employees across its 7 production
facilities globally, 15 oversea
subsidiaries in Japan, Korea,
Singapore, India, Turkey,
Germany, Italy, Switzerland,
United States, Canada, Mexico,
Brazil, Chile, Australia and
United Arab Emirates, and global
sales teams in China, United
Kingdom, France, Netherlands,
Spain, Bulgaria, Greece,
Romania, Ukraine, Jordan, Saudi
Arabia, Tunisia, Egypt, Morocco,
Nigeria, Kenya, South Africa,
Costa Rica, Colombia, Panama
and Argentina.
52
53
Renewable Energy
Your lawyer. Your law firm. Your business advisor.
A S I A P A C I F I C N E W S
Chevron Announces Fourth
Quarter 2019 Results
the year-ago period.
Chevron Corporation
(NYSE: CVX) today
reported a loss of
$6.6 billion ($(3.51)
per share - diluted) for fourth
quarter 2019, compared with
earnings of $3.7 billion ($1.95
per share - diluted) in the fourth
quarter 2018. Included in the
current quarter were previously
announced upstream impairments
and write-offs totaling $10.4
billion associated with Appalachia
shale, Kitimat LNG, Big Foot and
other projects. The company also
recognized a $1.2 billion gain on
the sale of the U.K. Central North
Sea assets in the fourth quarter.
Foreign currency effects decreased
earnings in the fourth quarter
2019 by $256 million.
Full-year 2019 earnings were $2.9
billion ($1.54 per share - diluted),
compared with $14.8 billion
($7.74 per share - diluted) in 2018.
Included in 2019 were net charges
for special items of $8.7 billion,
compared to net charges of $1.2
billion for special items in 2018.
Foreign currency effects decreased
earnings in 2019 by $304 million.
Earnings excluding special
items and FX reflect net income
(loss) excluding special items
and foreign currency effects.
For a reconciliation of earnings
excluding special items and FX,
see Attachment 5.
Sales and other operating revenues
in fourth quarter 2019 were $35
billion, compared to $40 billion in
“Cash flow from operations
remained strong in 2019, allowing
the company to deliver on all our
financial priorities,” said Michael
K. Wirth, Chevron’s chairman
of the board and chief executive
officer. “We paid $9 billion in
dividends, repurchased $4 billion
of shares, funded our capital
program and successfully captured
several inorganic investment
opportunities, all while reducing
debt by more than $7 billion.
Earlier this week, we announced
a quarterly dividend increase
of $0.10 per share, reinforcing
our commitment to growing
shareholder returns.”
“Organic capital spending held
flat at $20 billion in 2019, further
demonstrating our commitment
to capital discipline. Within this
program, we continued the rampup
of the Permian Basin in Texas
and New Mexico and progressed
our Future Growth Project
at the company’s 50 percentowned
affiliate, Tengizchevroil,
in Kazakhstan. For the first time
in the company’s history, annual
production exceeded 3 million
barrels per day of oil equivalent,”
Wirth added.
56
The company added
approximately 494 million barrels
of net oil-equivalent proved
reserves in 2019. These additions,
which are subject to final reviews,
are net of reductions associated
with the company’s decisions
to reduce funding for various
gas-related opportunities and
asset sales. The largest additions
were from the LNG Projects in
Australia and deepwater fields in
the Gulf of Mexico. The company
will provide additional details
relating to 2019 reserve additions
in its Annual Report on Form
10-K scheduled for filing with the
SEC on February 21, 2020.
Significant downstream
developments in 2019 included
the acquisition of the Pasadena
refinery in Texas, and the signing
of a conditional agreement to
acquire a network of terminals
and service stations in Australia.
Additionally, Chevron Phillips
Chemical Company LLC, the
company’s 50 percent-owned
affiliate, announced plans to
jointly develop petrochemical
projects in the U.S. Gulf Coast and
Qatar.
57
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1
A S I A P A C I F I C N E W S
PTT’s CAFÉ AMAZON
PHILIPPINES EYES 20 MORE
STORES IN 2020
PTT’s non-oil business, the Café Amazon plans to open
approximately 15 to 20 more stores in the Philippines next
year to boost its presence in the country.
Over the weekend, Café Amazon opened its latest stores in Bacoor,
Cavite and in J.P. Rizal in Project 4, Quezon City. Both are franchisee
owned and operated stores.
The Bacoor branch was Café Amazon’s fourth in the province of Cavite,
while the J.P. Rizal shop was its third in Quezon City and fourth in
Metro Manila.
“The reception of both the investors and the customers are
overwhelming. We are barely new in the Philippine market, yet, people
are so enthusiastic about the brand and the product itself,” said PTT
Philippines President and Chief Executive Officer Thitiroj Rergsumran.
60
Café Amazon was introduced in the Philippines in 2016 after PTT
Philippines got the master franchise from its parent company in
Thailand. It has since been expanding from the inside of a PTT station
to malls and other commercial establishments.
Its first store in the Philippines opened at PTT SCTEX and was
immediately followed by the one at PTT Dasmarinas in Cavite, and
eventually the opening of its first mall-based shop inside the SM City
North Edsa Annex Building in Quezon City.
As part of its product development and innovation, Café Amazon also
introduced its glass house stores in the Philippines particularly the
ones at PTT Apalit, PTT San Fernando 3, PTT Pansol in Laguna, and
PTT Cavite City.
A market leader in Thailand, Café Amazon was founded 17 years ago
and has become successful in Thailand and overseas because of its
continuous product development, good locations, and strong business
partners.
Its more than 2,500 stores in Thailand has even grew to additional 200
shops in other countries like Cambodia, Laos, Myanmar, Japan, Oman,
Singapore, China, and the Philippines.
Apart from the projected new stores in 2020, its line of new drinks
would also be introduced in all of its stores this December, targeting its
health-conscious customers.
61
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A S I A P A C I F I C N E W S
PETRONAS’ Breakthrough
Technology In Structure Health
Monitoring
PETRONAS announced a breakthrough invention, Advance
Diagnostic and Prognostic Technology (ADaPT), a digital
solution that predicts mechanical damage at various facilities
to prevent unplanned plant shutdown and revenue loss.
Developed by local talents, the technology is a quantum leap in structure
health monitoring and has the potential to be used at facilities beyond
the energy sector, including construction, shipping, aeronautics,
motorsports and automobiles.
ADaPT replaces manual, conventional inspections by predicting
structural and mechanical cracks through continuous online
monitoring, offering accurate prediction based on pressure, temperature
and flow patterns.
64
It detects the early signs of mechanical
damage allowing prediction of asset’s
remaining life expectancy and avoids
unplanned shutdown of plants.
ADaPT was launched by PETRONAS
Project Delivery & Technology Senior
Vice President Samsudin Miskon,
accompanied by PETRONAS Project
Delivery & Technology Head of Group
Technical Solutions (GTS) Khairol Anuar
Shukri and PETRONAS Chemicals MTBE
Sdn Bhd (PCMTBE) Chief Executive
Officer Azlimi M Lazim.
The digital solution is a collaboration
involving GTS, PCMTBE and Universiti
Teknologi PETRONAS, which began in
January 2018.
Khairol said ADaPT is the result of
PETRONAS’ innovation capability
underpinned by a passion for technological
advancement in its operational culture.
“The fruition of ADaPT, with its high
performance and accuracy, is another
testament to PETRONAS’ commitment
as a progressive energy and solutions
partner,” he said.
Meanwhile, Azlimi said with ADaPT,
PCMTBE has optimised plant efficiency
by planning around the predicted
remaining life expectancy.
“The digital solution had successfully
avoided the unplanned shutdown that
could have cost us RM30 million. It had
also increased PCMTBE’s production
by seven per cent, worth RM63 million,
from April 2019 to December 2019,” he
added.
PETRONAS welcomes partnerships to
deploy ADaPT as the application is not
limited to the energy sector.
65
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Page 16
A S I A P A C I F I C N E W S
CNOOC Limited Announces its
2020 Business Strategy and
Development Plan
CNOOC Limited (the “Company”,
SEHK: 00883, NYSE: CEO, TSX:
CNU) today announced its
business strategy and development
plan for the year 2020.
The Company’s targeted net production for
2020 is 520 million to 530 million barrels of
oil equivalent (BOE), of which, production
from China and overseas accounts for
approximately 64% and 36%, respectively.
The Company’s net production for 2019 is
expected to be approximately 503 million
BOE. The Company’s net production for
2021 and 2022 are estimated to be around
555 million BOE and 590 million BOE,
respectively.
The Company’s total capital expenditure
for 2020 is budgeted at RMB85 billion to
RMB95 billion. The capital expenditures
for exploration, development, production
and others will account for approximately
20%, 58%, 20% and 2% of the total capital
expenditure, respectively.
In 2020, the Company plans to drill 227
exploration wells and collect approximately
27 thousand square kilometers
3-Dimensional (3D) seismic data.
68
In 2020, ten new projects are expected to come on stream, namely Penglai 19-3
oil field block 4 adjustment/Penglai19-9 oil field phase II, Qinhuangdao 33-1
South oil field phase I, Bozhong 19-6 gas field pilot area development project,
Luda 16-3/21-2 joint development project, Nanbao 35-2 oil filed S1 area,
Jinzhou 25-1 oil field 6/11 area, Liuhua 29-1 gas field development project and
Liuhua 16-2 oil field/20-2 oil field joint development project in offshore China,
Liza oil field phase 1 in Guyana and Buzzard oil field phase II in the UK.
Among which, Liza oil field phase 1 in Guyana has already come on stream
ahead of schedule.
Mr. Xie Weizhi, CFO of the Company, said, “The Company will continue to
maintain cost competitiveness, maintain prudent investment decision-making,
and ensure the effective implementation of the capital expenditure plan to fully
promote the Company to a new phase of high-quality development.”
Mr. Xu Keqiang, CEO and the President of the Company, said, “In 2020, the
Company will steadily increase its oil and gas reserves and production, pursue
profitable reserves and production, lay a solid foundation for high-quality
development through technology innovations and management enhancement,
and create excellent returns for our shareholders.
69
Solar Power
Solutions
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F E A T U R E
S T O R Y
Does Industry 4.0 need a
different kind of leader?
By Assem Salaam, Gulf Sales Director, Rockwell Automation
There are innumerable ways of being a good leader,
and as many different styles and techniques as there
are leaders – in fact, I’d argue that a good leader is
first and foremost unique. That’s because a good
leader is true to themselves, it is very hard to be good if you
do not believe in yourself and your approach.
A good leader then, will, either knowingly or otherwise, pull
upon several different management styles, but the one that
I’ve been considering closely in recent times is often referred
to as Advocacy Leadership – and I’d also add a twist which
focuses on agency...
I recently read a quote from a resource kit for culturally and
linguistically diverse communities in Australia that gave me
pause for thought:
“Advocates do not have to be leaders, but good leaders should be strong advocates.”
This clever phrase from a document about diversity resonated with me, not only as a leader of a very
diverse region with many different cultures and identities, but also as a very useful observation about
leadership.
To be an advocate is to promote a cause – and a good leader will always be able to motivate their team
with a clear vision for what they are trying to achieve together. In our case at Rockwell Automation,
we are expanding human possibility by connecting the
imaginations of people with the intelligence of machines.
Our teams are working hard with our customers and partners
to help them achieve more productivity, reduced wastage,
improved safety and stronger security. For each and every
one of our customers, this means making a more intelligent
Connected Enterprise, and we have a huge toolkit available to
help them to identify their own vision for the future, and to
help them deliver on their potential.
There’s another side to advocacy too. And that is to be
someone who speaks up for or represents a group of people.
On this side of the coin, a strong leader must be aware of their
role in supporting their team to achieve their goals. It’s at this
point that the agency twist comes into play, because once the
vision is laid out and the support is made available to every
72
member of the team, they must feel that they have the full
faith of the leaders to deliver. It’s a key difference between
being a manager and a leader; a leader will give agency to
the team member to achieve their full potential.
With the agency approach, an able leader needs to have
good personal relationships with their team. They need
to understand people’s strengths and to assign roles and
responsibilities accordingly. In an era of rapid change for
industry, this requires a certain agility.
In advocating Rockwell Automation’s approach to market,
it is important to understand that it has developed in
recent years and is continuing to do so. The traditional
role of the Industrial Automation and Information
Technology vendor is changing very quickly. The change
is being driven by industry needs and technology
development in the era of digitization. The company’s
new alignments and relationships with key partners
such as the new joint venture with Schlumberger or the
recent investment into PTC, along with longer-standing
strategic alliances such as Endress+Hauser, Cisco and Microsoft, mean that we can offer much more than
ever before. They show how Rockwell Automation is keyed in to an integrated digital-physical world of
connectivity that can help realise the most ambitious plans of our customers. In turn, this means we are
part of a conversation with more stakeholders in our clients’ operations and must work more creatively
and collaboratively than ever before.
To do so successfully requires strong advocacy leadership
so that the regional Rockwell Automation team is fully
enabled to help our customers define and achieve their
goals. But we’re not reinventing the wheel here, our
customers still want to improve productivity, reduce
costs and waste, and operate in a safe and secure way. We
need every bit of experience gathered at every level of
our team to leverage the new opportunities and we need
every member of the team to be motivated. This brings us
neatly back to the empowering effect of agency leadership
– given roles suited to us, and the support (advocacy)
and faith from our leaders to deliver (agency), we can all
achieve much more together.
I’d be interested to hear your thoughts on leadership in
the modern industrial era (industry 4.0/ fourth industrial
revolution). Do you agree with the Advocacy Leadership
style? Do you see the value or have examples of how
promoting agency can achieve results? Has your company identified its Connected Enterprise vision for
the future and assembled the partners it needs to deliver it? Contact me to continue the conversation.
About Rockwell Automation
Rockwell Automation Inc. (NYSE: ROK), is a global leader in industrial automation and digital
transformation. We connect the imaginations of people with the potential of technology to expand
what is humanly possible, making the world more productive and more sustainable. Headquartered in
Milwaukee, Wisconsin, Rockwell Automation employs approximately 23,000 problem solvers dedicated
to our customers in more than 100 countries. To learn more about how we are bringing The Connected
Enterprise to life across industrial enterprises, visit www.rockwellautomation.com.
73
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Industry
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Energy and natural resources
November 2019
kpmg.com/ae
kpmg.com/om
76
GE
Lighting
GE EnvironmEntal
liGhtinG SolutionS
linear Fluorescent Systems
Foreword
Nizar Jichi
Partner
Head of Energy and Natural Resources
KPMG Lower Gulf Limited
T: +971 2 401 4700
E: njichi@kpmg.com
Our second annual thought leadership report
for the Abu Dhabi International Petroleum
Exhibition & Conference (ADIPEC) 2019,
explores key trends in the energy and natural
gas (ENR) industry. Amid times of economic
change, technological advancement and
disruption, the United Arab Emirates (UAE)
government has largely managed to fulfil the
enormous potential for growth. Over the last
few decades, it has been working to create an
environment that is particularly conducive to
the success of the ENR sector.
A slew of exciting developments are transforming
oil and gas (O&G) globally. Artificial intelligence and
machine learning are driving a digital revolution.
Organizations within the industry are focusing on
extensive capital investment. However, there may be
some challenges in ensuring that the capital is
used productively.
Prices of main energy commodities continue on their
upwards trajectory, a trend that commenced in late
2016, and they are forecast to stabilize over the next ten
years. This is partly due to ongoing crude oil production
cuts implemented by the Organization of the Petroleum
Exporting Countries (OPEC). In coming years, prices
may well be impacted by the USA and China trade wars,
and Venezuela’s economic, political and social crisis.
There have been some promising advances in
accounting standards relevant to the industry.
Determining whether a transaction results in an asset
or a business acquisition has historically been a topic
of contention. The International Accounting Standards
Board (IASB) has issued amendments to provide further
guidance on the definition of a business, applicable to
those entities to be acquired in annual reporting periods
beginning as from 1 January 2020.
78
ENR organizations must remain continuously aware
of changing legislation relating to tax and foreign
ownership. There has been a welcome relaxation in
foreign investment regulation in the UAE. Formerly, the
practice in the sector was to establish a branch of the
foreign company that would be party to a concession.
With reforms to the Foreign Direct Investment law
coming into effect as of 1 January 2019, foreign
shareholders may now own up to 100% of UAE
companies incorporated outside the designated
free zones.
As per the KPMG Global CEO Outlook 2019 survey,
94% of energy company CEOs are confident in their
own business’s growth prospects over the next three
years. Tempering this optimistic outlook, 76% of CEOs
across all sectors surveyed said their company’s growth
would depend on their ability to manage the transition
to a low carbon, clean technology economy.
These findings set the scene for a discussion about
renewable energy sources. Sustainable energy
innovation faces some obstacles: high technological
risk, financial costs, and strong commercial competition
from established, low-cost products and solutions.
These hurdles may be partly mitigated by securing
the optimum mix of private and public funding, and
establishing a culture of transparent policy discussion.
In this report we also consider research that suggests
millennials may sometimes view O&G as an industry
that can occasionally be detrimental to the environment.
This could be hindering valuable talent from exploring
fulfilling careers in the sector. The O&G sector would
do well to consider modifying its employee value
proposition to match millennial values, focusing on
purpose rather than compensation alone, as well as
emphasizing the chance to work with cutting-edge
technology in what is a largely public service with fairly
high levels of corporate social responsibility (CSR).
Finally, we shine a spotlight on ethics. Companies
in the energy sector face unmatched regulatory and
public interest scrutiny from governments. Increased
digitization is creating an ever-more connected world,
leading to greater awareness of data breaches,
misconduct and other risks among stakeholders and
the wider public. Organizations must balance meeting
shareholders’ expectations for financial targets,
while holding themselves accountable for possible
environmental impact, as well as combating potential
bribery and corruption.
I hope you find the report an engaging and stimulating
read. I would be delighted to discuss the insights
with you.
79
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Price volatility and its impact
on the oil and gas sector
Fluctuations in commodities’ prices continue
to affect the production of national and
international hydrocarbons, and have a
direct impact on total investment in the
region. Nizar Jichi delves into the key trends,
forecasts and reasons for the variation.
In recent years, the oil and gas industry
(O&G) has navigated unprecedented
disruption. Challenges include upstream
volatility, midstream constraints, and industry
consolidation. However, shifting customer
demands and new technologies are creating
hitherto unexplored opportunities for
O&G companies.
In 2019, prices of main energy commodities, particularly
oil and gas, continued on the path towards recovery, a
process that started in late 2016. This took place after
an overwhelming fall in prices, which as of 2016 may be
estimated to be well above 60% of the maximum levels
reached in 2012 and 2008, for oil and gas, respectively.
This has represented accumulated growth of more than
60% for oil, and 50% for gas, from 2016 to 2018.
The price of oil rose from USD/bbl 1 43 in 2016 (average
price of the West Texas intermediate (WTI), Dubai and
Brent oil basket) to USD/bbl 70 in November 2018.
In the same period, gas prices increased from USD/
MMBTU 2 3.5 (average price of the gas produced in the
USA and the EU) to USD/MMBTU 5.3 1 .
This trend is evidenced in a recent World Bank study.
It indicates that the prices of major commodities up
to 2030 are partly due to ongoing crude oil production
cuts that the Organization of the Petroleum Exporting
Countries (OPEC) and other non-OPEC countries have
been implementing from 2016. The cuts aim to foster
an upward trend in crude oil prices. This is in addition
to the constant increase in USA oil and gas production
which, in contrast to the production cuts, tends to
mitigate price upsurges and forces them down.
Trade wars and political uncertainty
In addition, two other factors might be added in light of
their recent significance in outlining future expectations
for the energy market: the USA and China’s trade war
disputing tariffs; and Venezuela’s economic, political
and social crisis. The latter adds a material level of
uncertainty in terms of production due to the recent
restrictions imposed by the USA and other countries
upon their crude oil supplies.
Other oil producing countries such as Russia have
adhered to the production cut implemented by OPEC
member countries. In January 2017, this group of
countries, which accounts for around 50% of the global
supply of crude oil, decided to reduce its production
by around 1.8 million barrels daily 2 . The purpose was
to support the price of this commodity and recover
investments made years ago.
This reduction, which in 2018 had turned towards an
increase in daily production as a result of rebounding
crude oil prices, has reverted once again as OPEC
countries and their partners cut production in 2019, in
response to the decline in oil prices.
The restrictions on crude oil supply imposed by the
OPEC producers and partners, together with the
82
increase in U.S. production and
the restrictions on the production
of some countries, continue
to contribute to the volatility in
hydrocarbon prices. However,
based on the latest projections
of the World Bank, prices are
forecast to remain stable at
around USD/bbl 70 up to 2030.
The imperative for greater
investment
In the recent World Energy
Congress, UAE Minister of State
and ADNOC CEO, Dr Sultan
Ahmad Al Jaber, said that USD 11
trillion are required of investment
for the oil and gas industry to
keep up with rising global energy
demands. “In the short-term,
global economic uncertainties
are creating market volatility and
impacting the energy demand,”
he said. “But, in the long-term
the outlook is very positive and in
fact robust 3 .”
Alternatives are being sought to
create the necessary conditions
to foster investment, thus
achieving a sustained increase in
the production of hydrocarbons.
In a somewhat unpredictable
environment for oil prices,
providing forecasts for the shortterm
seems a complex task. In
two years, the steep upward
trend, boosted by the restrictions
on production imposed by OPEC
and its partners, was reversed,
leading to some uncertainty in
the sector towards the end of
2018. This may be due to the
influence of the United States in
the international market, coupled
with the production and export
hurdles currently being faced by
some countries, like Venezuela.
Unlike crude oil, the upward trend
followed by the international price
of gas appears to be clearer.
According to the World Bank’s
estimations, the average price of
the gas produced by the United
States and the European Union is
expected to average around USD/
MMBTU 6 by 2030.
Given that the UAE possesses
nearly 10% of the world’s total
hydrocarbon reserves, oil and
gas revenue will continue to fuel
the country’s national economic
growth and social infrastructure
development in the future. In the
near-term, the ever-increasing
global demand for energy,
evolving political and regulatory
priorities, emerging technologies
and increasing cost pressures
are likely to pose challenges for
energy and natural resources
companies. Nevertheless,
despite global economic
uncertainties and market volatility
impacting energy demand, the
long-term outlook
remains positive.
Nizar Jichi
Partner
Head of Energy and Natural
Resources
KPMG Lower Gulf
T: +971 2 401 4700
E: njichi@kpmg.com
83
The effect of new accounting
requirements for business
combinations on the energy industry
Previous IFRS 3 guidance on the definition of
a business created some diversity in practice
and was a subject of concern for stakeholders.
Aiming to resolve this, the International
Accounting Standards Board (IASB) issued
additional clarification and a test for a simplified
assessment. Yusuf Hassan explains.
According to long-term forecasts, about
75% of global energy needs will be provided
by hydrocarbon fuels at least up to 2035 4 .
However, as a recent KPMG study showed,
the growth of the electric transport fleet can
significantly affect the demand for refined
products 5 . What seems like a distant prospect
today may affect a business earlier than
previously expected. Energy electrification is
gaining momentum, and companies around the
world are seeking low-carbon energy sources.
This trend suggests the need to include nontraditional
fuel development functions in the
asset portfolio; for example, infrastructure for
recharging electric vehicles.
Trends in the oil and gas (O&G) industry in 2019 include
increased diversification to manage uncertainty about the
future of hydrocarbon fuels and increased tension around
trade negotiations globally. Such diversification boils
down primarily to major takeover deals by leading O&G
corporations, such as BP and TOTAL, which are known
for their electro-vehicles (EV) charging infrastructure
projects. However, smaller takeover transactions can
also strengthen existing capacities and build up new
ones, such as low-carbon energy. Additionally, creating
partnerships and alliances can be an attractive way to
acquire new competencies and technologies or enter
new markets without significant costs.
Defining a business
When considering such transactions, O&G companies
must carefully determine whether they represent the
acquisition of a business or the purchase of assets,
as required by IFRS 3 Business combinations (IFRS
3). Understanding the difference between these two
transaction types is important to understanding the
accounting principles underlying each type of transaction.
Business combinations are accounted for by applying
the acquisition method (also giving rise to goodwill).
However, when accounting for acquisitions of assets, the
acquirer allocates the transaction price to the individual
identifiable assets acquired, and liabilities assumed,
on the basis of their relative fair values. No goodwill is
recognized.
Determining whether a transaction results in an asset or
a business acquisition has long been a challenging but
important area of judgment.
IFRS 3 originally defined a business as input and
processes applied to that input that have the ability to
create output. According to the post-implementation
review (PIR) of IFRS 3, this definition was the subject
of numerous concerns raised by stakeholders about
84
interpreting and applying it. The
International Accounting Standards
Board (IASB), therefore, provided
further guidance on the definition of
a business 6 , applicable to businesses
acquired in annual reporting periods
beginning on or after 1 January 2020.
Concentrating on fair value
Previously in IFRS 3, there was little
or no guidance to identify situations
where an acquired set of activities
and assets is not a business. Aiming
to simplify such assessment, the
International Accounting Standards
Board (IASB) introduced the
amendments, including an election
to use a concentration test. This is a
simplified assessment that results in
an asset acquisition, if substantially
all of the fair value of the gross
assets is concentrated in a single
identifiable asset or a group of similar
identifiable assets.
Entities may elect whether or not
to apply the concentration test on a
transaction-by-transaction basis.
It is perhaps worth mentioning that
it is still mandatory to perform a
detailed assessment applying the
normal requirements of IFRS 3. This
happens when an entity elects not to
apply the test or the test is not met.
Assessing substantive processes
If a preparer chooses not to apply
the concentration test, or the test is
failed, then the assessment focuses
on the existence of a substantive
process. The amendments provide
further guidance to assess whether
an acquired process is substantive,
with illustrative examples.
IASB outlined that the presence of an
organized workforce is an indicator of
a substantive process, because the
‘intellectual capacity’ of an organized
workforce, having the necessary
skills and experience following rules
and conventions, may provide the
necessary processes (even if they
are not documented).
The steps for this assessment are
outlined below:
Yusuf Hassan
Partner
Head of Accounting
Advisory Services
KPMG Lower Gulf
T: +971 4 424 8912
E: yusufhassan@kpmg.com
Assess
inputs
Input required?
Yes
Process applied
to inputs?
Yes
No
No
Outputs at the
acquisition dates?
Is the process
substantive?
No
Apply para, B12C
Workforce with skills to perform process that is
critical to continue producing outputs
Process is unique/scarce or cannot be easily
replaced?
Yes
No
Yes
Yes
Apply para, B12B
Workforce with skills to perform process
that is critical to develop/convert other
acquired inputs into outputs?
Yes
No
No
Conclusion
Business combination
Input and process together significantly contribute
to ability to create output?
Yes
No
Asset acquisition
The changes mean that the new definition of a business is narrower,
which could result in fewer business combinations being recognized. The
amendments may require organizations within the O&G sector to carry
out complex assessments to decide whether a transaction is a business
combination or an asset acquisition 7 .
9
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The need to keep abreast
of sweeping tax reforms
Organizations in the ENR sector must remain aware of
developments in applicable tax laws, affected by
factors including globalization, technological innovation,
and geopolitical, regulatory and economic change.
Stuart Cioccarelli discusses the main themes
relevant to the industry.
For a region that has historically been perceived
to be largely free of taxes, there has been a
radical shift in the local tax landscape in
recent years.
Globally, tax initiatives are being implemented to
accommodate requests from the Organization for
Economic Co-operation and Development (OECD), under
the Base Erosion and Profit Shifting (BEPS) project, which
aims to combat tax avoidance. Transfer pricing changes
in the region call for compliance with country-by-country
reporting requirements. There is an increased need
for transparent exchange of information by regulators
and tax authorities as economies acknowledge the
interdependence on other countries, within the region
as well as globally. This is underscored by a widening tax
treaty network and bilateral trade agreements.
Regional introduction of new taxes
In an effort to diversify revenues from the oil and
gas (O&G) sector in the region, the GCC states have
committed to framework agreements to implement
value added tax (VAT) and excise tax. Four GCC states
have already introduced these (Oman currently only
having implemented excise tax), with the remaining two
expected to do so by late 2020 or 2021.
The ENR sector has predominantly been the driving
force of the UAE economy, with the majority of reserves
located in Abu Dhabi. There has been increased business
activity in this emirate in 2018 and 2019, with up to
40% interests being granted to international oil and gas
companies in both onshore and offshore concessions.
In addition to fiscal reforms, there have been further
changes to commercial company law, which now permits
up to 100% foreign ownership, as well as dual licensing
in some free trade zones.
Investment structure
One of the major reforms to the UAE market has been
the relaxation of foreign investment regulations. The new
rules will allow foreign investors to establish UAE (rather
than offshore) corporate hubs for ring-fencing countryspecific
ENR activities.
To ensure 100% control, the previously prevalent practice
in the ENR sector has been to establish a local branch
of the foreign company that would be party to the
concession.
With changes to the Foreign Direct Investment (FDI) law
effective from 1 January 2019, foreign shareholders may
now own up to 100% of UAE companies incorporated
outside free zones (“Onshore”). Permitted foreign
ownership is determined on the basis of a “Negative
list” (where the relaxation of the 51% UAE national
shareholding requirement will not apply) and “Positive
list” (more than 49% of foreign ownership will be
permitted). In addition, most Free Trade Zones (FTZs) are
now granting dual licenses that permit FTZ-registered
businesses to carry out operations on the mainland.
The Abu Dhabi Global Market (ADGM) FTZ recently
announced a collaboration with the Supreme Petroleum
Council (SPC). Foreign concession holders will now be
permitted to establish ADGM registered entities. These
may obtain a license to provide onshore and offshore
oil field and facilities services (subject to receiving
necessary approvals).
Fiscal regime applicability to the ENR sector
Taxation of the ENR sector in the UAE was originally
established through Emiri decrees (modeled after the
88
Abu Dhabi Income Tax Decree
of 1971). However, unlike other
jurisdictions, the UAE fiscal
regime is unique: over time, each
concession is issued a specific Fiscal
Letter that governs the taxation
of foreign concession holders and
petrochemical companies.
In Abu Dhabi, the Fiscal Letter and
accompanying procedures supersede
the Abu Dhabi Income Tax Decree.
The terms of the Fiscal Letter vary
depending upon whether the subject
is a petrochemical company, or
whether it is an onshore or offshore
concession. For petrochemical
companies, tax is imposed on the
profits of the entity. For foreign
concession holders, tax is imposed
on the share of profits allocated to
the oil lifted.
The Fiscal Letters are broadly aligned,
that is, the income is subject to
corporate income tax and royalties.
However the computation of tax and
applicable rates can vary depending
on the Fiscal Letter. In Abu Dhabi,
the Fiscal Letter is determined by the
SPC and agreed with the respective
concession holder on a confidential
basis. The tax rates are agreed
upon on a case-by-case basis by the
concession holders and the SPC.
The SPC formulates and overseas
the implementation of Abu Dhabi
Petroleum Policies. It is responsible
for administering, assessing
and collecting corporate tax for
foreign upstream companies and
petrochemical companies in Abu
Dhabi. Each concession holder is
responsible for calculating, reporting
and payment of its taxes pertaining
to its participating interest in the
concession as per the Fiscal Letter,
and to make a payment of corporate
income tax and royalty to the SPC.
The compliance process is performed
over a two year cycle. The first year
requires payments of estimated
taxes on a monthly and quarterly
basis and a true up calculation is
performed in the second year based
on actual data. A tax audit is also
conducted by the SPC in the second
year by its appointed auditor.
The lasting impact of VAT
The Federal Tax Authority (FTA), a
government entity, was established
in 2016 and is responsible for
administering, collecting and
enforcing country-wide taxes in
the UAE. Currently the only federal
taxes under its jurisdiction are excise
tax (from 1 October 2017) and VAT,
implemented with effect from 1
January 2018.
There are no special VAT regimes
or exemptions for businesses
operating in the O&G industry. VAT
is applicable on most supplies of
goods and services at the standard
rate of 5%, unless there is a specific
provision for applying the zero rate or
exemption.
Sales of crude oil and natural gas are
specifically zero rated, whether as a
domestic supply or as an export. As
a result, most concession holders
will be obliged to register for VAT
to report the sales of oil and gas. A
credit for VAT incurred on expenditure
will thus be permitted.
There is a particular provision for
local sales of specified hydrocarbons
to customers who are wholesalers
or will use them to produce energy.
The supply is deemed outside
the scope of VAT but subject to a
domestic reverse charge on the part
of the purchaser, provided certain
conditions are satisfied. This may
represent an important cashflow
advantage as neither party has to
fund the VAT upfront, but reports it
using VAT accounting entries.
VAT registered entities must comply
with UAE VAT legislation, file periodic
returns, and pay any associated VAT
liability within specific time limits.
A harsh administrative penalty is
applicable for non-compliance.
Entities in a refund position,
where the VAT credits exceed
the VAT liability, are entitled to a
repayment. Historically, the FTA has
seemingly been comparatively slow
in processing these refunds, but
recently there has been a noticeable
increase in VAT credits received.
The regulatory landscape for
investment, and consequently
the tax environment, in the O&G
industry is complex. It involves
acquiescence with the law at both
emirate and federal level, while
concurrently aligning with global tax
directives. Compliance depends upon
thorough, complete understanding
of obligations under the specific
fiscal regime, as well as under
complementary federal
taxation laws.
Stuart Cioccarelli
Partner and UAE Head of Tax
KPMG Lower Gulf
T: +971 2 401 4881
E: scioccarelli@kpmg.com
89
Adoption of renewable energy
sources in response to
climate change
Sustainable energy innovation is of critical importance in
achieving the global climate targets. Vivek Agarwal explores
how technological solutions and a canny funding strategy can
help make adopting renewable energy sources more feasible.
In 2017, human-induced global warming hit
approximately 1°C above pre-industrial levels 8 .
The Paris Agreement on Climate Change in
2015 achieved quasi-global consensus on the
necessity for governments, industry players,
and society as a whole, to limit global warming
to below a 2°C increase 9 . This will not happen
without a fast transition toward adopting
low-carbon technologies to slow the pace of
climate change. Innovation must play a key
role in the development of sustainable clean
energy technologies as part of the endeavor to
find viable substitutes for the carbon-emitting
technologies that have become embedded in
our everyday lives.
Unlike solar and wind power, many other clean energy
technologies are generally not yet mature nor sufficiently
cost-competitive enough to be deployed on a commercial
scale. The geographical, political and social disparities
and availability of resources around the globe will likely
require a broad range of different sustainable energy
technologies to be developed.
The UAE’s commitment to sustainability
The UAE is striving to move towards a more sustainable
future. The UAE Energy Strategy 2050 aims to double
the contribution of clean and nuclear energy in the total
energy mix and reduce the power-generation carbon
footprint by 70% of its current level. By the end of 2019,
the government is aiming to make 10% of all citizens’
homes in Dubai energy self-sufficient, with free solar
power, as the UAE works to implement its energy
goals. The homes will then be connected to the Dubai
Electricity and Water Authority (DEWA) grid.
The construction of the fourth phase of the Mohammad
Bin Rashid Al Maktoum Solar Park has advanced further
with the completion of 128 pillars of the project’s solar
tower. It is the largest single-site solar energy project in
the world, with a planned total production capacity of 5
gigawatts by 2030 10 .
The UAE is also looking at nuclear power and waste to
diversify away from oil and gas 1 . Five waste-to-energy
projects are underway across the UAE, for instance
the Sharjah Waste to Energy Facility. The 30 megawatt
project, a joint venture between sustainability pioneer
Bee’ah, and Masdar, will process more than 37.5 tonnes
of municipal solid waste per hour to generate electricity
sustainably. It is expected to divert more than 300,000
tonnes of municipal waste away from landfills
every year 11 .
The role of technology in sustainable energy
The research and development (R&D) process for clean
and sustainable energy technologies is characterized
by high-potential technological risk. The risk is not only
high in the early development stage but remains so
until after a product reaches commercialization. For
example, wind turbine technology, even though it is now
a commercially competitive solution, requires ongoing
R&D and improvement, in order to both achieve optimal
production and installation cost efficiencies, and to
increase the wind yield. This is particularly relevant in
an era when tariff support for renewables is decreasing
rapidly, thus requiring ever greater efficiencies from
90
existing technology solutions. Also,
the costs to validate prototypes and
demonstration models are much
higher than for pure digital/software
innovations. Currently much longer
periods are required to validate deeptech
sustainable energy products.
Barriers to sustainable energy
innovation
The nature of sustainable energy
innovation — namely, the high
technological risk, the financial
cost and the strong commercial
competition from established, lowcost
(but potentially high-emitting)
products and solutions — represents
the key systemic hurdles for the fasttrack
development of
new innovations.
Sustainable energy innovation can be
a highly expensive endeavor. To help
meet all the financing requirements,
both private and public investments
are needed. The reality is that
innovators of early-stage sustainable
energy solutions find that there is
usually a significant financing gap
and public and private funding are
typically not well aligned to meet
this need for various reasons. Public
sector investors can find it difficult
to identify the right innovators and
determine the most appropriate
projects in which to invest. They
often need to comply with strict
internal investment rules and return
expectations. Furthermore, the public
sector can lack the commercial,
financial and entrepreneurial skills to
assess investment opportunity, and
there may be a paucity of personal
accountability for investment
success.
Favorable energy regulations, funding
policies and institutions to foster
innovation are also vital in creating
a fertile environment for sustainable
energy innovation. Stable policies,
independent of political cycles, play a
major role in providing the necessary
certainty for innovators and private
investors. An ongoing absence of a
common consensus on the future
design of the energy landscape
between national governments
is leading to the phenomenon
that most sustainable energy
R&D is still performed on a local
level with too little cross-country
knowledge exchange and the loss of
collaborative synergy potential.
Possible solutions
Aligning public and private
investment is key to securing the
required funding, especially at critical
stages of technology development.
One potential approach could involve
creating financial mechanisms that
attract and blend both private and
public money. These public-private
co-investment mechanisms are
designed to reflect the risk profiles
of the different parties involved.
This could be combined with
structured funds which use portfolio
approaches, providing returns on the
overall performance of all invested
projects. Investors are thus not
dependent on the performance of
individual projects. Such frameworks
can help provide a secure and stable
framework for innovators and can be
complemented with technological
and financial assistance. This
approach has been used effectively
to push the climate change agenda
in the developing world; examples
include the Danish Climate
Investment Fund and the Global
Climate Partnership Fund. There is
no reason it could not be used in a
similar fashion for sustainable energy
innovation.
One of the main challenges for
private and public investors is to
find the right projects to fund.
For industry players, investing in
innovative start-ups is a way to
outsource the innovation process
until ideas are demonstrated and
tested enough to be incorporated
into their core business. Other sector
players, such as car manufacturers,
may choose to keep most of the
innovation process in-house. They
often own large R&D centers to test
and develop new solutions.
The investment process of utilities
and oil and gas companies into
innovative start-ups can be a winwin
process for both the investors
and the start-ups. The due diligence
approach must therefore take into
account the insecurities and scaling
Vivek Agarwal
Director, Audit
KPMG Lower Gulf
T: +971 2 401 4816
E: vivekagarwal@kpmg.com
91
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potential of business cases of early-stage companies.
Considering the restricted resources of these early-stage
companies, a due diligence process should not obstruct
the day-to-day business of start-ups. The findings of legal,
tax and financial due diligence can produce valuable
insights for the start-up entrepreneurs, who may use
them to improve their organizational structures, reporting
and operations.
There are many different ways to support innovation
start-ups other than just the provision of funding. For
example:
– development of business strategy and shaping a
comprehensive business plan for innovators
– identifying strategic business partners, particularly
larger industrial concerns to test prototype and
demonstration models
– helping innovators through the maze of intellectual
property protection
– setting up the right organizational structures and
processes right from the start so that the start-up
can function like a proper business with appropriate
corporate governance.
Next steps
Sustainable energy innovation is of critical importance
to achieve the global climate targets; more sustainable
energy technologies need to be developed and
commercialized faster. Breakthrough energy technologies
with broad applicability and affordability are needed to
substitute incumbent solutions and lifestyles. In order to
tackle systemic hurdles in the energy innovation process,
it is critical to foster a culture of policy discussion and
to increase the involvement of both private and public
stakeholders in the energy innovation ecosystem.
94
Sustainable energy innovation is of critical
importance to achieve the global climate
targets; more sustainable energy
technologies need to be developed
and commercialized faster
95
Fostering passion for an
oil and gas career among
millennials
Millennials may harbor some misconceptions
about the industry. Peter Haugaard elaborates
on how to alter their views and introduce them
to a sector with promising career opportunities.
Research indicates that more recent
generations may view oil and gas (O&G) as an
industry in decline rather than an innovative
sector in which to build a future—this may
be more detrimental to the environment and
society than beneficent. These misconceptions
could be keeping some millennial talent
from exploring careers in O&G. When you
ask millennials to identify their preferred
career path, they often name employers in
technology, public service, and corporate social
responsibility. Oil and gas does not always
make their list because they do not think it
matches their values.
Millennial values differ
Generally, millennials prize purpose and meaning in their
careers. For instance, they often prefer to join and stay
with companies that clearly articulate their principles,
according to Gallup research. It also indicates that
millennials seek career mobility, with 87% saying that
professional development or career growth opportunities
are very important to them. The Gallup findings also
suggest they are willing to change companies to gain that
experience 12 .
Yet at the same time, millennials also tend to seek more
of a work-life balance than previous generations, and
their careers are not necessarily the most important part
of their lives. When they are at the office, they typically
prefer collaborative effort to solitary work, and value
inclusion and diversity.
Finally—and a key point for oil and gas companies to
remember—this generation grew up with ubiquitous
technology, and they want their employers’ enterprise
technology to be up to date and on par with what they
use in their personal lives. A remarkable 93% say that
a business having the latest technology is an important
value proposition when choosing a workplace, and
42% of them say they would leave if the technological
infrastructure was substandard 13 .
Focus on learning and innovation
Millennials are frequently looking for employers who
will expose them to Industry 4.0 (i4.0), but they may
not realize that their opportunity to work with new
technologies does not have to be at a traditionally defined
“technology” firm.
The i4.0 technologies that O&G companies have
implemented over the last decade, under economic and
regulatory pressure to continually make operations safer
and more efficient, are in line with what many millennials
want exposure to. Examples include automated
production, remote asset monitoring through Internet
of Things sensors, and data analytics to crunch vast
amounts of valuable information.
ExxonMobil and the Massachusetts Institute of
Technology’s effort to leverage artificial intelligence to
detect natural seep in deep ocean waters is the kind of
project millennials can get excited about 14 . Meanwhile,
BP’s upstream chief operating officer for production,
transformation and carbon recently said that millennial
employees are demanding the company’s teams work
in a more agile way to complement the increasing
deployment of these digital tools 15 .
96
Forty-six percent of millennials
intending to stay at their current
organizations for at least another
five years say they receive help
understanding and preparing for i4.0.
Yet among those intending to leave
within two years, that figure dropped
to 28%.
Vaulting ambition
Some employers may tend to labour
under the misapprehension that
millennials have no loyalty. Yet, while
they are more willing to move for the
right opportunity, their job tenure is
no shorter than that of Generation X.
Research suggests that millennials
set themselves similar career goals
as those of prior generations. They
nurture a desire to make a positive
impact on their organizations, like
baby boomers. They would also
like to work with diverse groups
of people, like Gen X. Part of the
misconception may be driven by
a slower progression through the
various life stages than previous
generations, according to Nielsen 16 .
For a number of millennials, growing
up during the financial crisis delayed
reaching the personal economic
security they needed in order to
move out of their parents’ houses
and start families. This makes it
important to view millennials as
individuals, rather than a monolithic
group, while at the same time
acknowledging their needs and
values for the life stage they are in.
Attracting talent
The O&G sector would do well
to consider tailoring its employee
value proposition to match millennial
values. High compensation alone
may not attract this cohort, identified
as one of the most charitable
generations in history. The millennial
focus on altruism offers organizations
a unique opportunity to refocus their
employer brand so it articulates a
social mission that differentiates
themselves from competitors 17 .
Some O&G organizations may need
to redefine their core competencies,
which in turn can update and create
new career paths. By redesigning
and communicating new careerprogression
opportunities, companies
can reinforce their commitment
to the current workforce to better
engage and retain talent, while
attracting employees with the skills
needed in the future.
New technology—automation in
particular—creates opportunities
to attract innovation- and careerfocused
employees as organizations
shift their employee base toward
higher-value work like strategy and
analytics, and away from repetitive,
manual tasks. Not only does this
allow O&G organizations to remain
relevant in the marketplace, but the
availability of more strategic and
advisory roles can lead to higher job
satisfaction and improved retention.
Finally, to create a pipeline of fresh
talent, O&G companies may do well
to consider developing relationships
with local universities, offering
internship programs and externship
programs as well as sponsoring
events like ‘hackathons’ and
design sprints.
Industry leaders can help combat
misperceptions by sharing stories
from current employees that
demonstrate a positive experience.
In particular, potential employers may
choose to highlight that O&G offers
some of the most innovative and
rewarding career opportunities of any
international industry.
Peter Haugaard
Head of People,
Performance and Culture
KPMG Lower Gulf
T: +971 4 356 9560
E: phaugaard@kpmg.com
97
Photovoltaics >>Made in Austria<<
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Advantages of KIOTO modules:
1. Product warranty of 12 years and a linear
performance warranty for 25 years
2. Extremely solid (5400Pa), nevertheless
very light module construction (under 20kg)
3. Use of high quality components from
nameable deliverers
4. Intelligent frame concept for technical
safety, flexibility and homogeneous design
5. Integrated RFID chip with flash data
saved directly on the module
6. Optimized weak light behaviour
high EFFiCiEnCy MultiCRyStal PhotoVoltaiC ModulE
KD 300-80 P Series
KD315GX-LPB
KD320GX-LPB
Cutting EdgE tEChnology
As a pioneer with over 35 years in the solar energy
industry, Kyocera demonstrates leadership in the
development of solar energy products. Kyocera’s
Kaizen Philosophy, commitment to continuous
improvement, is shown by repeatedly achieving
world record cell efficiencies.
Quality Built in
• UV stabilized, aesthetically pleasing black
anodized frame
• Supported by major mounting structure
manufacturers
• Easily accessible grounding points on
all four corners for fast installation
• Proven junction box technology with 12 AWG
PV wire to work with transformerless inverters
• Quality locking MC4 plug-in connectors to
provide safe and quick connections
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• Proven superior field performance
• Tight power tolerance
• Only module manufacturer to pass rigorous
long-term testing performed by TÜV Rheinland
QualiFiCationS and CERtiFiCationS
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UL1703 Certified and Registered, UL Fire Safety Class C, CEC, FSEC
Building robust ethics
and compliance frameworks
a key priority
Ethics and compliance programs in the energy
industry are generally more mature than in
other sectors. However, the results of the KPMG
2019 Chief Compliance Officer (CCO) Survey
demonstrated that certain areas still need
development, explains Sudhir Arvind.
Heightened public, investor and board attention
to ethics-related issues—many of which made
major headlines in recent years—is driving
an increased focus on compliance programs
across all industries.
The pressure is compounded on chief ethics and
compliance officers (CCOs) in the energy industry
where companies face unparalleled regulatory and
public interest scrutiny from governments and citizens
around the world. There is a particular emphasis on
environmental impact and the potential for bribery and
corruption at international operations. This constant
examination by a broad range of stakeholders, combined
with shareholders’ expectations for strong financial
results, can sometimes place energy companies in the
unenviable position of juggling competing demands.
Meanwhile, rapid technological advances and expanding
digitization are accelerating the convergence of business
models and markets, leading to greater awareness of
data breaches, potentially questionable sales practices,
organizational misconduct and other possible
high-profile risks.
The introspective CCO
In January 2019, KPMG surveyed 220 CCOs
representative of the largest organizations across
multiple industries 18 . Of those, approximately 13%
operated in the energy and natural resources industry.
Although the research was conducted in the US, as the
oil and gas (O&G) sector is highly multicultural, main
themes and behavior may be extrapolated to apply to
organizations across the world.
Findings from the survey indicated that ‘investigations’
is the number-one ethics and compliance activity that
energy-sector CCOs plan to enhance in 2019. Many O&G
companies receive complaints into a centralized team.
However a greater proportion of CCOs from the energy
sector, compared with those from other industries,
stated they do not conduct, document, or adequately
address root-cause analysis of operational issues.
Recognizing the need for improvement, 61% of energy
CCOs surveyed said they will focus on developing
investigations capabilities in the coming year. The effort
requires some urgency as regulators are stepping up
their focus on root-cause analysis and remediation as part
of assessing corporate compliance programs.
Establishing protective frameworks
More energy CCOs expect to enhance their due diligence
efforts in 2019 than the cross-industry average. O&G
companies with a global footprint rely on a host of
intermediaries, opening the door to greater third-party
corruption risk. Unfortunately, the energy sector is
sometimes found to be below average in seeking to
integrate due-diligence processes and use a central
system for third-party risk management.
A devolved model for third-party risk management allows
for flexibility across geographically and operationally
diverse businesses. However it can lack central oversight
to ensure consistency and quality of risk management,
risks duplication, and likely creates increased costs that
could be avoided.
100
On the other hand, a far greater proportion of energy CCOs are
focused on improving anti-bribery and corruption (ABC) compliance
programs than CCOs in any other sector. As global O&G
companies explore new regions and expand operations across
borders, they are challenged by a complex and dynamic framework
of governments, regulations and local partnerships other sectors
do not often face. For those operating in high-risk areas, the global
regulatory focus on bribery and corruption issues is an incessant
drum beat.
Concerns have been amplified in recent years by growing financial
penalties and reputational risks. Despite many energy companies
investing in improving their ABC programs, almost half of energy
CCOs in the survey said they plan to refine those programs
further.
Meanwhile, companies across the board are increasingly
recognizing the need for real-time detection. As data access and
analytics capabilities advance, many are looking to automate
monitoring activities, such as analyzing third-party spend.
In fact, energy companies have diverged from other industries
with respect to enhancing monitoring and testing overall. Only
46% of energy respondents are planning to enhance such
activities, compared with 65% from all sectors.
Spotlight on ethics and culture
More than two-thirds of energy CCOs surveyed put refining ethics
programs at the top of their list as part of their regulatory and
compliance obligations. The #MeToo movement, the power of
social media, and public access to real-time data and information,
are just some issues pushing CCOs to institute an ethical
culture at their companies. Societal pressure on corporations to
act ethically spurs them to make an effort to go beyond mere
regulatory compliance. As the survey suggests, the potential
business impact of ethical misconduct, and increasing board
and C-suite belief in the importance of culture, are key drivers
behind the corporate world’s growing interest in developing ethics
programs.
Nearly a third of energy CCOs seek to better incorporate culture
into their compliance efforts. In fact, as per the survey, they
consider culture a top-five area for improvement, according it a
higher rank than their peers in other industries. They are also more
focused on integrating processes, activities and controls that drive
an ethical and compliant culture than CCOs from other sectors.
This is no surprise given the attention that culture is receiving
from boards and other societal stakeholders in the O&G and wider
energy sector.
Sudhir Arvind
Partner
Risk consulting
KPMG Lower Gulf
T: +971 2 401 4833
E: sarvind@kpmg.com
101
Findings from the Global
CEO Outlook 2019
The fifth annual Global CEO Outlook, KPMG’s
flagship thought-leadership program, contains
timely insights into the challenges and
opportunities for CEOs of the largest
corporations from around the world.
Unlike other CEO surveys, KPMG’s report is
forward-looking and focuses primarily on the
outlook of CEOs for the next three years. With
our research partner, Forbes, we surveyed
nearly 1,300 CEOs in 11 of the world’s largest
economies and 11 key industry sectors
(automotive, banking, insurance, investment
management, infrastructure, life sciences,
technology, telecom, manufacturing, retail/
consumer markets, and energy/utilities). The
ten core markets are: Australia, China, France,
Germany, India, Italy, Japan, the Netherlands,
Spain, UK and US.
What did CEOs tell us this year?
Two-thirds of all chief executives surveyed believe that
agility is the new currency of business. If they fail to
adapt to a constantly changing world, their business will
become irrelevant.
The environmental, economic and technological
headwinds we have seen emerge in recent years are no
longer perceived as short-term. While CEOs continue to
see exciting growth opportunities, they are set against a
complex, volatile and increasingly uncertain environment.
To be resilient, organizations need to be comfortable
disrupting their business models if they want to continue
to grow.
Focus on energy
Three-quarters of CEOs across all sectors cited
climate change as a top risk to their organization’s
growth. “Climate change has evolved beyond just an
environmental issue to a pressing financial one as CEOs
are feeling investor and stakeholder pressure to move
the world away from a sole reliance on fossil fuels,” said
Regina Mayor, Global and U.S. Sector Leader for Energy
and Natural Resources at KPMG. “As we continue to
consume energy at a record pace, organizations are
thinking about ways to incorporate a mix of energy
sources, made up of both fossil fuels and renewables.”
Of the 1,300 CEOs surveyed in the 2019 CEO Outlook,
130 were from top global energy companies.
More than 80% of energy CEOs say that they’re
personally leading the technology strategy for their
organizations, and 79% are placing more capital
investment in buying new technologies to improve their
organization’s resiliency.
According to the report, while 94% of energy CEOs
are confident in their business’ growth prospects, only
65% feel the same way about the global economy. To
pursue growth objectives over the next three years, 66%
of executives plan to increase investment in disruption
detection and innovation processes. Other strategies
include setting up accelerator programs for start-up firms,
joining industry consortia focused on development of
innovative technologies, and pursuing
corporate venturing.
102
2019 KPMG Global CEO Outlook: Energy
CEOs name climate change as the
#1 risk to organizational growth
Dynamic risk landscape
Societal concerns over climate change
mean that stakeholders—from
customers to regulators—are putting
increasing pressure on organizations
and their leaders to respond.
Conflicting global outlook
Energy CEOs are confident in the
underlying fundamentals and growth
prospects of their businesses, but this
confidence is not matched by their
views on the global economic outlook.
76 % 65 % 66 %
of all CEOs surveyed say their
organization’s growth will depend on
their ability to navigate the shift to a
low carbon, clean technology economy.
of energy CEOs are confident in their
own business's growth prospects
over the next 3 years. However, only
94 % 103
Top threats to growth:
Environmental and
climate change
Return to territorialism
Disruptive
technology
feel the same way about
the global economy.
Leading in uncertain times
To build a resilient enterprise that capitalizes on disruption, energy CEOs are
pressuring their organizations to change and adapt continually.
60 %
say that acting with agility
is the new currency of
business and being too
slow risks bankruptcy.
plan to increase investment
in disruption detection and
innovation processes.
Changing from within
Energy CEOs are embracing a new way of thinking about talent,
workforce strategy, and the need for upskilling.
are personally
leading the
technology strategy
for their organization.
are making more capital
investment in new
technologies to improve
their organization’s
resiliency.
80 % 79 % 85 %
plan to upskill
employees to new
digital capabilities to
develop a more
effective workforce.
© 2019 KPMG International Cooperative ("KPMG International"), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with
KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other
member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. NDPPS 886506
LDK SOLAR
MODULES
www.ldksolar.com
LIGHT OUR FUTURE
Copyright AREVA Wind/Jan Oelker
SenSorS and control SyStemS
in wind turbineS
Source material
Price volatility and its impact on the oil and gas sector
Based on information from: Oil & Gas Industry: 2019 Trends.
Diego Calvetti, KPMG Argentina.
https://assets.kpmg/content/dam/kpmg/ar/pdf/pg-industria-del-pgtendencias-para-2019-eng.pdf
This report relied upon the following
sources:
World Bank Commodity Price Data –Pink Sheets– and World Bank
Commodities Price Forecast
– MINEM 2018
– COMTRADE statistics
– “World Bank Commodities Price Forecast”, World Bank, October
2017.
– World Bank - “Commodity Markets Outlook. The changing of the
guard: Shifts in commodity demand”. World Bank, October 2018.
– World Bank - “World Bank Commodities Price Forecast”. World Bank,
October 2017.
– HUB Energía – “Unconventional Oil & Gas in Argentina. Annual
Report 2017”. HUB Energía, 2017.
– KPMG - “Industria del P&G: Cuatro temas relevantes para 2018”
(“Four relevant issues in the oil and gas industry for 2018”), KPMG in
Argentina, 2018.
– KPMG - “Industria del P&G: Cuatro temas relevantes para 2017”
(“Four relevant issues in the oil and gas industry for 2017”), KPMG in
Argentina, 2016.
– KPMG – “Petróleo y Gas - Balance de la década, perspectivas y
desafíos del sector en la Argentina (2005- 2015)” “(“Balance for the
decade, prospects and challenges for the Argentine O&G sector.
2005-2015”), KPMG in Argentina, 2015.
– MINECO - “Argentina Energy Plan. Guidelines”. Office of Energy
Planning. Office of Energy Governance, Ministry of Economy, 2018.
– MINEM – “Escenarios Energéticos 2030” (“Energy Scenarios
for 2030”), Energy Scenarios and Project Assessment Division,
Department of Energy Scenarios and Project Assessment, Office of
Energy Planning, MINEM, 2017.
Adoption of renewable energy sources in response to
climate change
Sourced from New drivers of the renewable energy transition, Part
3: The critical importance of supporting and accelerating sustainable
energy innovation. Mike Hayes, KPMG in Ireland, and Thekla von
Bülow, KPMG in Germany https://assets.kpmg/content/dam/kpmg/xx/
pdf/2018/10/new-drivers-of-the-renewable-energy-transtion-part3.pdf
Fostering passion for an oil and gas career among millennials
Sourced from Millennial values: Building passion for an oil and gas
career in the next generation. Matt Campbell and Crystal Thompson.
https://home.kpmg/us/en/home/insights/2019/05/millennial-valuesbuilding-passion-for-an-oil-and-gas-career.html
Building robust ethics and compliance frameworks a key priority
Sourced from Drilling Down: Enhancing ethics and compliance. Brent
McDaniel and Trevor Canova, KPMG US. https://home.kpmg/us/en/
home/insights/2019/08/drilling-down-enhancing-ethics-and-compliance.
html
References
i USD/barrel
ii Million British thermal units
1 “Argentina Energy Plan. Guidelines”. Office of Energy Planning Office
of Energy Governance, 2018.
2 https://www.aa.com.tr/en/energy/international-organization/analysisopec-losing-control-share-in-global-oil-market/27117
3 https://gulfnews.com/business/11-trillion-in-investment-needed-for-oiland-gas-industry-1.66310511)
4 https://www.oecd.org/greengrowth/greening-energy/49157219.pdf
5 Fueling the future. Preparing the downstream oil and gas industry
for the mobility revolution, 2018. https://home.kpmg/us/en/home/
insights/2018/01/fueling-the-future.html
6 https://www.ifrs.org/news-and-events/2018/10/iasb-amends-definitionof-business-in-ifrs-standard-on-business-combinations/
7 https://home.kpmg/xx/en/home/insights/2016/06/definition-business-
merger-acquisition-accounting-proposed-amendments-slideshare-ifrs3-
ifrs11-290616.html
8 https://www.ipcc.ch/sr15/chapter/chapter-1/
9 Intergovernmental Panel on Climate Change (IPCC), 2018, Global
Warming of 1.5 °C, http://www.ipcc.ch/report/sr15/
10 https://www.dewa.gov.ae/en/about-us/media-publications/latestnews/2019/03/mohammed-bin-rashid-al-maktoum-solar-park
11 https://gulfnews.com/uae/environment/bright-outlook-for-uaerenewable-energy-sector-1.1551779126693
12 https://www.gallup.com/workplace/236477/millennials-work-life.aspx
13 https://www.forbes.com/sites/forbestechcouncil/2018/06/28/
meeting-millennial-expectations-in-these-four-areas-oftechnology/#672a288d4ffc
14 https://insights.globalspec.com/article/7831/exxonmobil-and-mitspearheading-ai-ocean-exploration
15 https://www.forbes.com/sites/markvenables/2019/01/31/change-ofculture-reaps-rewards-for-bps-digital-transformation/#cab9bf16199c
16 https://www.asiconferences.com/wp-content/uploads/2016/11/
Millennial-Life-Stages-Report-April-2016.pdf
17 https://advisory.kpmg.us/content/dam/advisory/en/pdfs/purposedriven-work.pdf
18 https://assets.kpmg/content/dam/kpmg/bm/pdf/2019/05/2019-ccosurvey.pdf
106
About KPMG Lower Gulf
KPMG Lower Gulf Limited provides audit,
tax and advisory services to a broad range
of domestic and international clients across
all sectors of business and the economy. We
work closely with our clients, assisting them to
mitigate risks and highlight opportunities.
Established in 1973, KPMG Lower Gulf now consists
of approximately 1,300 staff members, including more
than 100 partners and directors, across six offices: Dubai
(three), Abu Dhabi, Sharjah and Muscat. The KPMG
member firm in the United Arab Emirates, along with the
member firm in Oman, form KPMG Lower Gulf.
KPMG is widely represented in the Middle East and also
has offices in Saudi Arabia, Bahrain, Qatar, Egypt, Kuwait,
Jordan and the Lebanon. As well as having many of the
region’s leading organizations and government-related
entities as its clients, KPMG in the Lower Gulf has been
party to numerous milestone engagements in the
Middle East.
KPMG Lower Gulf is part of KPMG International
Cooperative’s global network of professional member
firms. The KPMG network includes approximately
207,000 professionals in over 153 countries around the
world. KPMG in the UAE is well connected with its global
member network and combines its local knowledge with
international expertise, providing the outstanding sector
and specialist skills required by our clients.
KPMG was the first major firm of its kind to organize
itself along industry lines– a structure which enabled us
to develop in-depth knowledge of our clients’ businesses
and provide them with an informed perspective.
KPMG Lower Gulf is closely collaborating with Abu Dhabi
Global Market Academy (ADGMA), the Abu Dhabi Human
Resources Authorities and Abu Dhabi Accountability
authorities to deliver the program, Pre-Audit Qualification
Training (PAQT). Initially run over the next three years, in
its first year it will provide more than 90 UAE nationals
with the essential knowledge and training in relation to
audit that will equip them to succeed in this field, and
thus contribute to the growth and development of the
local economy.
Supporting the Determined
Official Supplier to the Special Olympics World Games
Abu Dhabi 2019 and Official Sponsor of the Global Youth
Leadership Summit
107
LS285
LS285Monocrystalline Photovoltaic Module
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Applications
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Low degradation under high irradiance conditions
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Event Info
Power Purchase Agreement
7 – 10 June 2020, Dubai
19 – 22 October 2020, Singapore
www.infocusinternational.com/ppa
Overview
There are many moving pieces affecting the future of electric power development in emerging
market. Unlike the past Independent Power Project models, which featured standardised take-or-pay
contracts – today’s market demands more innovative incentives to ensure better availability, better
performance, as well as more attractive and sustainable mixtures of fuel sources. Economies throughout
developing countries urgently need to master the key tools, models, and lessons learned for transforming
and strengthening today’s electricity sector. These include the latest models in negotiating Power Purchase
Agreements (PPAs), in designing and managing new competitive power markets, as well as attracting the
right mix of renewable energy sources.
This 4-day comprehensive workshop gives you clear explanations of the new models of PPA risk allocation,
of designing and managing competitive power markets, attracting private investments in renewable energy,
through a series of real case examples of contracts and markets. Case Studies will include real examples
from Africa, Middle East, Asia, Europe and North America. Furthermore, cases stimulate independent
thinking and discussion among participants.
Benefits of Attending
• LEARN about all the essentials of
different PPAs
• NEGOTIATE fair and sustainable PPAs
• STRUCTURE successful PPAs based upon
your own company’s risk profile and risk
allocation needs
• EXPOSE to the frontiers of international
experience in IPP development
• LEARN theory and practice of pricing and
tariff design
• ANALYSE the relationship between
Public, Private, and Government sector
• PERFORM a policy and risk analysis of
PPA contracts
• EXPLORE a PPA relationship with EPC,
O&M, Fuel Supply, and Interconnect
Agreement
• GAIN the tools and models in directing
your country’s electricity transformation
and market design plans
• IMPROVE your awareness of the
common pitfalls and mistakes to avoid in
today’s private power investments
• LEAD successful power project finance
transactions
• IDENTIFY how financial derivatives can
be used as an effective hedge of financial
and electricity market based risks
Teaching Methodology
The agenda will combine presented materials with
plenty of opportunity for Q&A, interactive discussions,
and the use of quantitative models to illustrate key
learning points. Current market examples and data are
utilised wherever helpful.
Course Certificate
Upon the successful completion of this course, you
will receive a Certificate of Completion bearing the
signatures from both the Course Director and the
Course Organiser. This Certificate will testify your
endeavour and serve towards your professional
advancement.
To Register/Enquire on this course, please contact:
Abigail Harris
Infocus International
Tel: +65 6325 0215
Email: abigail@infocusinternational.com
Website: www.infocusinternational.com/ppa
E: abigail@infocusinternational.com www.infocusinternational.com/ppa
4 day course
“Excellent! There are many interesting topics which cover almost all
relevant issues in electricity market, such as market reform and PPA
negotiation. And the speaker is simply great.”
Head of PPA Section, Electricity Generating Authority of Thailand
Power Purchase Agreement
Structuring successful Power Purchase Agreements (PPAs), managing competitive
electricity markets & attracting merchant power investments
7 – 10 June 2020, Dubai
19 – 22 October 2020, Singapore
Book 3 persons
and save
$400
per person
Benefits of Attending
■ LEARN about all the essentials of different PPAs
■ NEGOTIATE fair and sustainable PPAs
■ STRUCTURE successful PPAs based upon your own company’s risk
profile and risk allocation needs
■ EXPOSE to the frontiers of international experience in IPP
development
■ LEARN theory and practice of pricing and tariff design
■ ANALYSE the relationship between Public, Private, and Government
sector
■ PERFORM a policy and risk analysis of PPA contracts
■ EXPLORE a PPA relationship with EPC, O&M, Fuel Supply, and
Interconnect Agreement
■ GAIN the tools and models in directing your country’s electricity
transformation and market design plans
■ IMPROVE your awareness of the common pitfalls and mistakes to
avoid in today’s private power investments
■ LEAD successful power project finance transactions
■ IDENTIFY how financial derivatives can be used as an effective
hedge of financial and electricity market based risks
Who Should Attend
■ Contract / Agreement Negotiators
■ Legal / Regulation / Compliance /
Policy Analysts
■ Business Development Managers
■ Commercial Managers
■ Finance Controllers / Treasurers
■ Corporate Planners
■ Business & Accounting Analysts
■ Sales & Trading Managers
■ Structured / Project Finance Analysts
■ Economists / Investors
■ Chairman / CEO / Directors
From sectors:
■ Electric Regulators & Ministries
■ Power & Utility Companies
■ IPP Developers
■ Banks / Investors
■ Energy Fuel Suppliers (Oil, Gas,
Coal and Renewables)
■ Law Firms & Consultancy
Supported by:
OFFSHORE MAGAZINE
ENERGY INSIGHT
Event Info
Renewable Power & Energy Mix
15 – 17 June 2020, Singapore
www.infocusinternational.com/energymix
Overview
In increasing parts of the world, renewable power sources – particularly solar and wind – are now
the cheapest way to generate electricity. This, combined with being crucial mechanisms by which to lower
the carbon emissions of energy systems, means they are also the fastest-growing supply of new power generating
capacity. It is vital that anyone involved in electricity systems, from new power project developers
to incumbent utilities, investors and policymakers, has a thorough understanding of how renewables are
impacting the energy mix and the wider power business.
In particular, the transition away from conventional thermal generators towards renewable ones has profound
implications for how power systems are designed, operated and policed – on a variety of timescales
from sub-second management to long-term capacity planning. These in turn create both new market opportunities
and significant businesses risks within the sector, not just for those
involved in system-wide aspects such as the grid or policy, but for those involved in individual project development
too.
In three intensive and informative days, this course explains and illustrates the key impacts of renewable
power integration into modern energy systems, based on global lessons and examples. Most importantly it
provides attendees with a market assessment framework and recommended approach to identifying and
quantifying how these integration challenges change the specific new opportunities and risks facing their
own businesses.
Benefits of Attending
• Learn from global experiences in
renewable power project development
and integration
• Understand how technical challenges
translate into financial and business
opportunities
• Illustrate key system impacts such as
investment requirements, energy costs
and capacity margins using simple
• Quantitative models
• Analyse and discuss evolving value chain
roles, partnerships and competitors
• Assess the market potential for solutions
such as energy storage, virtual power
plants and smart grids
• Gain an insight into the influences of
market liberalisation and policy shifts
Who Should Attend
• Renewable power project developers
• Power plant owners and operators
(utilities and IPPs)
• Transmission/Distribution system
operators
• Policymakers and policy advisors
• Investors, including commercial and
development banks, venture capital and
private equity
• Vendors & EPC contractors
• Large energy users
•Commercial energy-sector services
suppliers (law, insurance etc.)
Teaching Methodology
The agenda will combine presented materials with
plenty of opportunity for Q&A, interactive discussions,
and the use of quantitative models to illustrate key
learning points. Current market examples and data are
utilised wherever helpful.
Course Certificate
Upon the successful completion of this course, you
will receive a Certificate of Completion bearing the
signatures from both the Course Director and the
Course Organiser. This Certificate will testify your
endeavour and serve towards your professional
advancement.
To Register/Enquire on this course, please contact:
Abigail Harris
Infocus International
Tel: +65 6325 0215
Email: abigail@infocusinternational.com
Website: www.infocusinternational.com/energymix
E: abigail@infocusinternational.com www.infocusinternational.com/energymix
BRAND NEW COURSE
“I enjoyed the course with lots of demonstrations and case studies. The facilitator was
just ma r v e l l o u s , u p to t h e g a m e . I t w a s a v a l u e fo r m o n ey w o r ks h o p .”
Director of Finance, Electricity Generation Company Malawi
Renewable Power & Energy Mix
Essential approaches to market assessment, power project opportunity & business risk analysis
15 – 17 June 2020, Singapore
Benefits of Attending
■ Learn from global experiences in renewable power project development and integration
■ Understand how technical challenges translate into financial and business opportunities
■ Illustrate key system impacts such as investment requirements, energy costs and capacity margins using simple
quantitative models
■ Analyse and discuss evolving value chain roles, partnerships and competitors
■ Assess the market potential for solutions such as energy storage, virtual power plants and smart grids
■ Gain an insight into the influences of market liberalisation and policy shifts
Who Should Attend
■ Renewable power project developers
■ Power plant owners and operators (utilities and IPPs)
■ Transmission/Distribution system operators
■ Policymakers and policy advisors
■ Investors, including commercial and development banks, venture capital and private equity
■ Vendors & EPC contractors
■ Large energy users
■ Commercial energy-sector services suppliers (law, insurance etc.)
Book 3 persons
or more and save
$300
each
Supported by:
OFFSHORE MAGAZINE
ENERGY INSIGHT
Event Info
Mastering Wind Power
8 - 10 July 2020, Singapore
www.infocusinternational.com/wind
Overview
A comprehensive, up-to-date and business-focused roadmap to success in delivering wind power
growth, today and tomorrow.
Attendees will leave with an excellent understanding of all the key factors facing wind power developers
and investors, from resource assessment and energy production complexities, through project development
and planning challenges, to financial returns and risks.
The course schedule is designed to be highly participative, including time to work in groups to apply and
illustrate the learning points throughout the course. To do so, attendees will utilise online tools, wind resource
datasets, energy yield, financial and other simple calculations, along with structured discussions on
key planning and market environment considerations.
In keeping with the business-focused theme of the course, these illustrative exercises are designed to
provide time-efficient clarification of the key course takeaways, aimed at commercially-focused business
developers and investors. They are therefore deliberately made accessible to non-experts, not designed to
replicate the complex or in-depth detailed planning undertaken – over much longer periods! – by experienced
engineers and technical teams.
Course Highlights
• Learn from global experiences in wind
power project development
• Understand unique properties of wind
resource, and how these feed into financial
risk analysis
• Gain a business-focused, up-to-date
perspective on current and emerging wind
technology innovations and project delivery
best practices
• Analyse and discuss practical and project
delivery risks facing wind power projects,
including key stakeholder engagements
• Get hands-on with a financial model to better
understand financial risks and returns for wind
power projects
• Compare and contrast the unique extra costs
and complexities of offshore wind projects
with those onshore
Who Should Attend
• Renewable power project developers
• Power plant owners and operators
(utilities and IPPs)
• Transmission/Distribution system operators
• Policymakers and policy advisors
• Investors, including commercial and
development banks, venture capital and
private equity
• Vendors & EPC contractors
• Large energy users
• Commercial energy-sector services
suppliers (law, insurance etc.)
Teaching Methodology
The agenda will combine presented materials with
plenty of opportunity for Q&A, interactive discussions,
and the use of quantitative models to illustrate key
learning points. Current market examples and data are
utilised wherever helpful.
Course Certificate
Upon the successful completion of this course, you
will receive a Certificate of Completion bearing the
signatures from both the Course Director and the
Course Organiser. This Certificate will testify your
endeavour and serve towards your professional
advancement.
To Register/Enquire on this course, please contact:
Abigail Harris
Infocus International
Tel: +65 6325 0215
Email: abigail@infocusinternational.com
Website: www.infocusinternational.com/wind
E: abigail@infocusinternational.com www.infocusinternational.com/wind
BRAND NEW COURSE
“I enjoyed the course with lots of demonstrations and case studies. The facilitator was
just m ar vellous, up to the ga m e . I t w a s a v a l u e fo r m o n ey workshop.”
Director of Finance, Electricity Generation Company Malawi
Mastering Wind Power
8 – 10 July 2020, Singapore
Benefits of Attending
■ Learn from global experiences in wind power project development
■ Understand unique properties of wind resource, and how these feed into financial risk analysis
■ Gain a business-focused, up-to-date perspective on current and emerging wind technology innovations and
project delivery best practices
■ Analyse and discuss practical and project delivery risks facing wind power projects, including key stakeholder
engagements
■ Get hands-on with a financial model to better understand financial risks and returns for wind power projects
■ Compare and contrast the unique extra costs and complexities of offshore wind projects with those onshore
Who Should Attend
■ Renewable power project developers
■ Power plant owners and operators (utilities and IPPs)
■ Transmission/Distribution system operators
■ Policymakers and policy advisors
■ Investors, including commercial and development banks, venture capital and private equity
■ Vendors & EPC contractors
■ Large energy users
■ Commercial energy-sector services suppliers (law, insurance etc.)
Book 3 persons
or more and save
$300
each
Supported by:
OFFSHORE MAGAZINE
ENERGY INSIGHT
Event Info
Mastering Solar Power
13 - 16 July 2020, Singapore
www.infocusinternational.com/solar
Overview
A comprehensive, up-to-date and business-focused roadmap to success
in delivering solar power growth, today and tomorrow.
Attendees will leave with a good understanding of the key factors from an
integrated, multidisciplinary and commercial viewpoint, including: target market
analysis, economic competitiveness, channels-to-market, financing influences and
risk, project development processes, best practices and emerging technologies.
The course schedule includes time to work in groups to apply the learning and
illustrate key project development considerations, by discussing, developing
and quantifying an initial business proposal for a solar PV power plant. To do so,
attendees will utilise energy yield, financial and other simple calculations, along
with the chance to debate key planning and market environment considerations.
In keeping with the business-focused theme of the course, these illustrative
exercises are designed to provide time-efficient clarification of the key course
takeaways, aimed at commercially-focused business developers and investors.
They are therefore accessible to nonexperts, not designed to replicate the
complex or in-depth detailed planning undertaken - over much longer periods! -
by engineers and technical teams.
“I enjoyed the course with lots of demonstrations and case studies. The facilitator was
j u st m ar vellou s , u p to t h e g a m e . I t w a s a v a l u e fo r m o n ey w o r ks h o p .”
Shadric Namalomba, Director of Finance, Electricity Generation Company Malawi
Mastering Solar Power
Course Highlights
• Speak the language of solar energy: terminology and concepts explained
with clarity and relevance
• Understand the 13 key – variables 16 July determining 2020, the Singapore
economics of solar PV projects
• Review current and emerging market opportunities for solar PV, including
integrations such as energy storage
• Navigate the typical project development requirements, processes and risks
• Learn and discuss how financial returns and risks arise in PV projects
• Be better able to converse with project partners, suppliers, investors,
policymakers and other stakeholders
• Know what to look for when evaluating PV project opportunities
• Identify key investment and project performance risks
• Learn how to analyse and critique current and emerging business models
Who Should Attend
Benefits of Attending
This course is ideal if:
■ Speak the language of solar energy: terminology and concepts explained with clarity and relevance
■ Understand the • You key variables are working determining within the the economics power of sector solar PV in projects a commercial or business
■ Review current development and emerging market role. opportunities You need a for clearly solar PV, explained, including integrations multi-faceted such understanding as energy storageof
■ Navigate the typical how project PV projects development are developed requirements, and processes why and and how risks they succeed (or fail), including
■ Learn and discuss how how market financial and returns technology and risks arise changes in PV projects are driving new innovation opportunities
■ Be better able to converse with project partners, suppliers, investors, policymakers and other stakeholders
along with new competitive risks.
■ Know what to look for when evaluating PV project opportunities
■ Identify key investment • You are and from project the performance investment, riskspolicy or professional services community. You
■ Learn how to need analyse to and embrace critique current the inevitable and emerging growth business of models solar energy, and want to gain an
independent perspective on the economic environment in which these projects
Who Should operate, Attend including the development, operational and business risks that most
matter to them.
This course is ideal if:
■ You are working within the power sector in a commercial or business development role. You need a clearly-explained,
multi-faceted
Including
understanding
but
of how
not
PV
limited
projects are
to:
developed and why and how they succeed (or fail), including how market
and technology changes are driving new innovation opportunities along with new competitive risks
■ You are from the investment, policy or professional services community. You need to embrace the inevitable growth
of solar energy, and want to gain an independent perspective on the economic environment in which these projects operate,
including the development, operational and business risks that most matter to them.
• Investors, including commercial and development banks, venture capital
and private equity
• Power generation companies, utilities and IPPs
• Policy makers and policy advisors
• Transmission/Distribution system operators
• Commercial services suppliers (law, insurance etc.)
• Equipment vendors & EPC contractors
• Large energy users and electricity buyers
including but not limited to:
■ Investors, including commercial and development banks, venture capital and private equity
■ Power generation companies, utilities and IPPs
■ Policy makers and policy advisors
■ Transmission/Distribution system operators
■ Commercial services suppliers (law, insurance etc.)
■ Equipment vendors & EPC contractors
■ Large energy users and electricity buyers
Supported by:
OFFSHORE MAGAZINE
ENERGY INSIGHT
Book 3 persons
or more and save
$400
each
E: abigail@infocusinternational.com www.infocusinternational.com/solar
Event Info
Teaching Methodology
The agenda will combine presented materials with plenty of
opportunity for Q&A, interactive discussions, and the use of
quantitative models to illustrate key learning points. Current
market examples and data are utilised wherever helpful.
Course Certificate
Upon the successful completion of this course, you will receive
a Certificate of Completion bearing the signatures from both
the Course Director and the Course Organiser. This Certificate
will testify your endeavour and serve towards your professional
advancement.
To Register/Enquire on this course, please contact:
Abigail Harris
Infocus International
Tel: +65 6325 0215
Email: abigail@infocusinternational.com
Website: www.infocusinternational.com/solar
E: abigail@infocusinternational.com www.infocusinternational.com/solar
“I enjoyed the course with lots of demonstrations and case studies. The facilitator was
just ma r v e l l o u s , u p to t h e g a m e . I t w a s a v a l u e fo r m o n ey workshop.”
Shadric Namalomba, Director of Finance, Electricity Generation Company Malawi
Mastering Solar Power
13 – 16 July 2020, Singapore
Benefits of Attending
■ Speak the language of solar energy: terminology and concepts explained with clarity and relevance
■ Understand the key variables determining the economics of solar PV projects
■ Review current and emerging market opportunities for solar PV, including integrations such as energy storage
■ Navigate the typical project development requirements, processes and risks
■ Learn and discuss how financial returns and risks arise in PV projects
■ Be better able to converse with project partners, suppliers, investors, policymakers and other stakeholders
■ Know what to look for when evaluating PV project opportunities
■ Identify key investment and project performance risks
■ Learn how to analyse and critique current and emerging business models
Who Should Attend
This course is ideal if:
■ You are working within the power sector in a commercial or business development role. You need a clearly-explained,
multi-faceted understanding of how PV projects are developed and why and how they succeed (or fail), including how market
and technology changes are driving new innovation opportunities along with new competitive risks
■ You are from the investment, policy or professional services community. You need to embrace the inevitable growth
of solar energy, and want to gain an independent perspective on the economic environment in which these projects operate,
including the development, operational and business risks that most matter to them.
including but not limited to:
■ Investors, including commercial and development banks, venture capital and private equity
■ Power generation companies, utilities and IPPs
■ Policy makers and policy advisors
■ Transmission/Distribution system operators
■ Commercial services suppliers (law, insurance etc.)
■ Equipment vendors & EPC contractors
■ Large energy users and electricity buyers
Book 3 persons
or more and save
$400
each
Supported by:
OFFSHORE MAGAZINE
ENERGY INSIGHT
Engineering, Procurement and Construction (EPC) Contracts for Energy Industry
24 – 26 August 2020, Singapore
www.infocusinternational.com/epcenergy
Overview
Event Info
Today, Engineering, Procurement and Construction (EPC) projects are uniquely challenging. Parties
currently involved in large complex and fast-track EPC projects frequently suffer financial loss that
could have been mitigated by effective contract management. Appropriate practical “know-how”
of EPC contracts will improve your ability to take appropriate steps, or to obtain necessary advice,
to minimise or manage such risks.
This intensive workshop provides valuable insight into the rapidly evolving world of EPC contracts. It
has been designed specifically for the professionals and management of energy industries and will be of
particular interest to those with current or planned projects in Asia, Africa, Middle East, Europe and the CIS.
You will analyse an EPC contract, clause by clause, focusing on your challenges in international and
domestic projects. This unique interactive master class discusses the key issues in EPC contracts which are
relevant for lenders, sponsors and borrowers in international construction projects and the keys to deliver
successful projects.
Course Highlights
• Global and local legal and commercial
framework in Asia, Middle East, Africa,
Europe and the CIS
• Contract negotiation best practices
• Tips on contractual risk mitigation
• Contract financing and project
structuring
• Contractor relationship management
• Clause-by-clause discussion based
on an actual contract precedent
Key Learning Objectives
• UNDERSTAND the current finance
market for EPC contracts
• MANAGE legal risks and environment
for EPC contracts in the region
• DISCOVER alternative procurement
options for projects and the risks and
opportunities associated with these
options
• DISTINGUISH new and effective contract
negotiation strategies
• ANALYSE the types of claims that may be
made under EPC contracts and develop
strategies to manage these claims
• GAIN INSIGHTS into the best current
dispute resolution options and the risks
and costs associated with each option
Teaching Methodology
The agenda will combine presented materials with
plenty of opportunity for Q&A, interactive discussions,
and the use of quantitative models to illustrate key
learning points. Current market examples and data are
utilised wherever helpful.
Course Certificate
Upon the successful completion of this course, you
will receive a Certificate of Completion bearing the
signatures from both the Course Director and the
Course Organiser. This Certificate will testify your
endeavour and serve towards your professional
advancement.
To Register/Enquire on this course, please contact:
Abigail Harris
Infocus International
Tel: +65 6325 0215
Email: abigail@infocusinternational.com
Website: www.infocusinternational.com/epcenergy
Free Takeaway
3 detailed articles on EPC contract precedents containing discussions on:
EPCM & Alliancing Contracts
EPC contracts in the global market
FIDIC contract and the challenges faced by construction contractors
Group Discount
book 3 person to save
$300 per person
Managing and Negotiating
Engineering, Procurement and Construction (EPC) Contracts
for Energy Industry
Mastering the legal and commercial framework, contract negotiation, financing, risk and contractor
relationship complexities of upstream and downstream EPC projects
24 – 26 August 2020, Singapore
Course Highlights
Global and local legal and commercial framework in Asia,
Middle East, Africa, Europe and the CIS
Contract negotiation best practices
Tips on contractual risk mitigation
Contract financing and project structuring
Contractor relationship management
Clause-by-clause discussion based on an actual contract
precedent
Key Learning Objectives
UNDERSTAND the current finance market for EPC contracts
MANAGE legal risks and environment for EPC contracts in the
region
DISCOVER alternative procurement options for projects and the
risks and opportunities associated with these options
DISTINGUISH new and effective contract negotiation strategies
ANALYSE the types of claims that may be made under EPC
contracts and develop strategies to manage these claims
GAIN INSIGHTS into the best current dispute resolution options
and the risks and costs associated with each option
Supported by:
““A very thorough presentation with excellent real
life examples and war stories from the trainer.”
- Exxonmobil
“A mustattend for professionals wishing to
improve in EPC contracts management.”
- Century Power Generation
“Interesting, extremely helpful and relevant.
A very clear presentation style which kept the
material interesting and the audience
engaged.”
- National Oil Company of Namibia
“The seminars were highly informative and the
trainer is clearly very experienced in the EPC and
major projects worldwide. It was very relevant for
us in our business.”
- Qatar Petroleum
“
“The trainer spoke knowledgeably about matters
that concern lenders, sponsors and borrowers
bringing different perspectives to the discussion.”
- KBC Bank NV
“Interesting explanation of every clause of the
contract (i.e. the thorough assessment of an EPC
contract).”
- KFW Bankengruppe
OFFSHORE MAGAZINE
ENERGY INSIGHT
E: abigail@infocusinternational.com www.infocusinternational.com/epcenergy
Event Info
Power Project Finance
7 – 11 September 2020, Johannesburg
www.infocusinternational.com/powerprojectfinance
Overview
Project finance is widely used for large infrastructure projects including thermal and renewable
power projects. The technique enables project risks to be allocated to the parties best able to manage
them and facilitates the raising of long term debt without recourse to the project developer.
The correct allocation of risk through an appropriate commercial structure is the foundation of a sound
financing plan and this course will develop these themes by walking through the commercial contracts and
finance documentation and provide an understanding of how to determine the optimal amount of debt
using cash flow and ratio analysis. Current circumstances in the African power project sector will be
discussed.
Investment committees need to be sure that all risk aspects have been studied and the course will detail
the key elements of the due diligence exercise. The course will also provide a guide on how to approach the
debt market.
Benefits of Attending
The course is intended to provide a firm
understanding of the principles which create
a bankable power project finance structure in
terms of risk allocation and the commercial and
financial structure. On completion of this course
you will understand:
• How a power project is structured
and financed
• How to identify power project risks
and mitigation strategies
• The role of the financial model and cash
flow and ratio analysis
• Debt sizing techniques
• Project finance term sheets and
loan documentation
• Contract documentation
• The due diligence process
• How to efficiently identify viable
project prospects
• How to approach the debt market
• Project analysis & development
• Commercial & legal
• Commercial services suppliers
(law, insurance etc.)
• Policy makers and policy advisors dealing
with energy sector financial issues
Teaching Methodology
The agenda will combine presented materials with
plenty of opportunity for Q&A, interactive discussions,
and the use of quantitative models to illustrate key
learning points. Current market examples and data are
utilised wherever helpful.
Course Certificate
Upon the successful completion of this course, you
will receive a Certificate of Completion bearing the
signatures from both the Course Director and the
Course Organiser. This Certificate will testify your
endeavour and serve towards your professional
advancement.
Who Should Attend
• Power project developer,
investor or financier
• Finance & accounting
• Project finance & structured finance
• Power project management
To Register/Enquire on this course, please contact:
Abigail Harris
Infocus International
Tel: +65 6325 0215
Email: abigail@infocusinternational.com
Website: www.infocusinternational.com/powerprojectfinance
E: abigail@infocusinternational.com www.infocusinternational.com/powerprojectfinance
“Excellent training with a world class and highly experienced specialist.”
Senior Power Expert, Regulatory Commission for Electricity Sector, Senegal
Book 3 persons and
save $500 each
Power Project Finance
7 – 11 September 2020, Johannesburg
Benefits of Attending
The course is intended to provide a firm understanding of the principles which create a bankable power project
finance structure in terms of risk allocation and the commercial and financial structure. On completion of this course
you will understand:
■ How a power project is structured and financed
■ How to identify power project risks and mitigation strategies
■ The role of the financial model and cash flow and ratio analysis
■ Debt sizing techniques
■ Project finance term sheets and loan documentation
■ Contract documentation
■ The due diligence process
■ How to efficiently identify viable project prospects
■ How to approach the debt market
Who Should Attend
Including but not limited to people working in:
■ Power project developer, investor or financier
■ Finance & accounting
■ Project finance & structured finance
■ Power project management
■ Project analysis & development
■ Commercial & legal
■ Commercial services suppliers (law, insurance etc.)
■ Policy makers and policy advisors dealing with energy sector financial issues
Supported by:
OFFSHORE MAGAZINE
ENERGY INSIGHT
Electricity Economics in Changing Electricity Markets
16 – 18 November 2020, Singapore
www.infocusinternational.com/electricityeconomics
Overview
Are you ready for the new challenges & opportunities as power markets around the world evolve?
This is an essential core knowledge course for those involved in the business or regulation of the power
industry.
It leads you through a clear, accessible and thorough examination of the economics of power generation,
from power plant cost influences to end-customer prices. It contextualises this analysis with key consideration
of industry drivers and trends, including increasingly liberalised and competitive markets, evolving policy
support and management frameworks, the growth and integration of renewable power sources, and the
restructuring of power systems towards more decentralised operations.
A highly interactive presentation style allows for plenty of Q&A and time to discuss the issues from multiple
stakeholder perspectives; including power plant owners, investors, policymakers and energy customers. This
course is an essential primer for those seeking to navigate successful business routes through transitioning
electricity systems.
Benefits of Attending
• Clear, independent and businessfocused
introduction
• Language designed for non-experts;
particularly senior executives,
policymakers & investment decision-makers
• Core knowledge building, including
up-to-the-minute examples from
markets around the world
• Interactive discussion of key market
and economic variables
• Quantification of key issues using simple
numerical calculations, real data and
Excel-based tools
We will examine these key questions:
• Which variables drive the economics
of electricity generation?
• How do generation costs combine with
other factors to produce end-use
electricity prices?
• How are current technology & system
trends impacting electricity costs and prices?
• What are policymakers doing to keep costs
down?
• Who are the key stakeholders and
influencers on electricity economics?
• What are the value-chain impacts of market
Liberalisation and Competition?
• How are solar and wind power
(and other low-carbon options) changing
market environments?
• and many more!
Event Info
Who Should Attend:
• Power generators, utilities and IPPs
• Investors, including commercial and
development banks, venture capital and
private equity
• Policymakers and policy advisors
• Transmission / Distribution system
operators (grid)
• Power system vendors & EPC contractors
• Large electricity users
• Commercial services suppliers
(law, insurance etc.)
Teaching Methodology
The agenda will combine presented materials
with plenty of opportunity for Q&A, interactive
discussions, and the use of quantitative models
to illustrate key learning points. Current market
examples and data are utilised wherever helpful.
Course Certificate
Upon the successful completion of this course,
you will receive a Certificate of Completion
bearing the signatures from both the Course
Director and the Course Organiser. This
Certificate will testify your endeavour and serve
towards your professional advancement.
To Register/Enquire on this course, please contact:
Abigail Harris
Infocus International
Tel: +65 6325 0215
Email: abigail@infocusinternational.com
Website: www.infocusinternational.com/electricityeconomics
BACK BY POPULAR DEMAND
“I enjoyed the course with lots of demonstrations and case studies. The facilitator was
just m a r v e l l o u s , u p to t h e g a m e . I t w a s a v a l u e fo r m o n ey w o r ks h o p .”
Shadric Namalomba, Director of Finance, Electricity Generation Company Malawi
Electricity Economics
in Changing Electricity Markets
The new economics of power markets in a low-carbon world
16 – 18 November 2020, Singapore
Book 3 persons
and save
$300
each
Benefits of Attending
■ Clear, independent and business-focused introduction
■ Language designed for non-experts; particularly senior executives, policymakers & investment decision-makers
■ Core knowledge building, including up-to-the-minute examples from markets around the world
■ Interactive discussion of key market and economic variables
■ Quantification of key issues using simple numerical calculations, real data and Excel-based tools
We will examine these key questions:
■ Which variables drive the economics of electricity generation?
■ How do generation costs combine with other factors to produce end-use electricity prices?
■ How are current technology & system trends impacting electricity costs and prices?
■ What are policymakers doing to keep costs down?
■ Who are the key stakeholders and influencers on electricity economics?
■ What are the value-chain impacts of market liberalisation and competition?
■ How are solar and wind power (and other low-carbon options) changing market environments?
■ and many more!
Who Should Attend
■ Power generators, utilities and IPPs
■ Investors, including commercial and development banks, venture capital and private equity
■ Policymakers and policy advisors
■ Transmission / Distribution system operators (grid)
■ Power system vendors & EPC contractors
■ Large electricity users
■ Commercial services suppliers (law, insurance etc.)
Supported by:
OFFSHORE MAGAZINE
ENERGY INSIGHT
E: abigail@infocusinternational.com www.infocusinternational.com/electricityeconomics
Gas & LNG Markets, Contracts & Pricing
16 – 20 March 2020, Singapore
28 Sep – 2 Oct 2020, Port of Spain
23 – 27 Nov 2020, Singapore
www.infocusinternational.com/gaslng
Overview
Event Info
Due to the complex geopolitical nature of gas/ LNG sourcing and long term nature of gas transactions
between buyers and sellers, it is commercially prudent for those involved in thisprocess to know the global
gas & LNG supply & markets condition, available methodologies for price determination, contract structure
and negotiation techniques. Any misjudgement in any of these areas could result in wrong sourcing decisions,
significant adverse financial consequences and legal liabilities.
This course has, therefore, been designed to enable the professionals in the gas sector and gas advisory
services to make right sourcing decision, construct gas/LNG contracts and negotiate from a position of
strength and knowledge in order to gain a competitive edge in the process.
Course Highlights
• Global gas/LNG market and market structure
in Asia Pacific, Africa, Middle East, Europe
and USA regions
• Current gas/LNG outlook and trends
• Contract terminology and construction -
operational, commercial and legal basis of
gas, LNG and Gas Transportation Contracts
• Principles of gas/LNG Sales and Purchase
Agreement (GSPA/SPA), Gas Transportation
Agreement (GTA) and Regasification
Agreements
• Gas/LNG pricing principles, current practice
and price indexation in competitive gas
markets
• Contracting and negotiation - proven
techniques
Benefits of Attending
• Background knowledge to framework to
facilitate gas/LNG commercial decisions
• Understanding current trends of the gas
organisation structure
• Knowledge of the underlying rationale for
gas contract terms and conditions
• Learn to construct gas, LNG and gas
transportation contracts and negotiate them
• Understanding of techniques of gas/LNG
price setting in competitive markets
• Awareness of operation of trading hubs,
spot and arbitrage
• Holistic understanding of what is required
to put a new supply chain in place
Who Should Attend
Energy professionals including
but not limited to:
• Purchasing/Supply Chain
• Legal/Contracts Negotiation
• Commercial
• Finance/Pricing
• Marketing
• Trading
• Sales/Business Development
• Project Finance
• Corporate Planning
From Sectors:
• Natural gas E&P
• Gas/LNG trade, shipping,
transmission, distribution
• Government agencies
• Gas based power generation
• Gas/LNG related project finance, asset
management, hedge funds,
equity/fixed income
• Gas pipeline and high pressure transportation
Course Certificate
Upon the successful completion of this course,
you will receive a Certificate of Completion
bearing the signatures from both the Course
Director and the Course Organiser. This
Certificate will testify your endeavour and serve
towards your professional advancement.
To Register/Enquire on this course, please contact:
Weslyn Lee
Infocus International Group
Tel: +65 6325 0274
Email: abigail@infocusinternational.com
Website: www.infocusinternational.com/gaslng
E: abigail@infocusinternational.com www.infocusinternational.com/gaslng
5 day course
“The best gas / LNG course I have ever attended. I will gladly
recommend it to anyone.” by past participant, Chevron
GAS & LNG
MARKETS, CONTRACTS & PRICING
A comprehensive all-in-one course addressing all key elements for successful gas & LNG business strategies
16 – 20 Mar 2020
28 Sep – 2 Oct 2020
23 – 27 Nov 2020
Singapore
Port of Spain
Singapore
Course Highlights
■ Global gas/LNG market and market structure in Asia Pacific, Africa, Middle East, Europe and USA regions
■ Current gas/LNG outlook and trends
■ Contract terminology and construction - operational, commercial and legal basis of gas, LNG and Gas
Transportation Contracts
■ Principles of gas/LNG Sales and Purchase Agreement (GSPA/SPA), Gas Transportation Agreement (GTA)
and Regasification Agreements
■ Gas/LNG pricing principles, current practice and price indexation in competitive gas markets
■ Contracting and negotiation - proven techniques
Benefits of Attending
■ Background knowledge to framework to facilitate gas/LNG commercial decisions
■ Understanding current trends of the gas organisation structure
■ Knowledge of the underlying rationale for gas contract terms and conditions
■ Learn to construct gas, LNG and gas transportation contracts and negotiate them
■ Understanding of techniques of gas/LNG price setting in competitive markets
■ Awareness of operation of trading hubs, spot and arbitrage
■ Holistic understanding of what is required to put a new supply chain in place
Book 3 persons
and save
$600
each
Supported by:
OFFSHORE MAGAZINE
ENERGY INSIGHT
Solar Module Yield Measurement
In a comparative measurement, the yield of more than 130 module
types is measured on PHOTON‘s outdoor test field
Peter Braatz / photon-pictures.com
Facts
• Detection of each module‘s yield (second-by-second) using
sophisticated measurement devices
• Evaluation of the module‘s yield independent of other system
components
• Performance measurement under real outdoor conditions for a
period of 12 months
• Standardization of the monthly and annual yield to the STC power
measured at PHOTON Lab
• Collection of the solar irradiation and weather data for in-depth
analysis
Check the monthly test results in:
• PHOTON Profi (German)
• PHOTON – Das Solarstrom-Magazin (German)
• PHOTON – Le Magazine du Photovoltaïque (French)
• PHOTON – Il Mensile del Fotovoltaico (Italian)
• PHOTON – La Revista de Photovoltaica (Spanish)
• PHOTON – International (English)
• PHOTON – International (Chinese)
• PHOTON – The Photovoltaic Magazine (English)
The results are published in over 200,000 issues
worldwide each month
www.photon.info Laboratory