Introduction
This GLOMACS Understanding Energy Contracts training course will provide participants with a comprehensive understanding of energy contracts essential to manage the volatile energy market. In this GLOMACS training course, participants will receive a thorough in-depth exposition of the several energy contracts and understand the rationale behind them and acquire essential skills to negotiate sound well thought out energy contracts.
Energy needs must be met in a world that cannot survive without it. How effectively we meet this need will determine the development of the modern world. Energy Contracts need to be strategic and looked at through the lens of your company’s current risk profile. Companies need to formulate a targeted approach. Your energy contract management should provide customized solutions and also determine the best pricing strategy to meet your efficiency goals. Parties to the contracts want to mitigate dramatic price increases, and the contracts need to address this and provide workable solutions. There is a need for customized contracts to avoid undue penalties which can cripple the commercial viability of a project. Energy contracts must allow for flexibility, and the contracts must reflect this and have a robust basis for meeting stakeholders’ requirements.
Objectives
By the end of this GLOMACS training course, participants will be able to:
- Understand the global energy market and the structure of energy contracts
- Assess risks in the energy industry and know how to minimize those risks
- Examine and analyze the different energy contracts both upstream and downstream
- Assess critical issues faced during contract lifecycle and know how to negotiate appropriate contractual clauses
- Avoiding pitfalls in contract negotiations and ambiguous contractual terms
Training Methodology
This GLOMACS Contracts Management training course will utilize a variety of proven interactive learning techniques to ensure maximum understanding, comprehension and retention of the information presented. This includes exercises designed to improve the understanding of the core energy contracts, improve their skill sets to negotiate better energy contracts through an interactive session with case studies, discussion groups and scenario building.
Organisational Impact
The organization will benefit by:
- Having a workforce who will be fully conversant with the different types of energy contracts that are used
- Being able to anticipate and deal with issues and ramifications pertinent to energy contracts
- Preventing expensive mistake from arising due to lack of familiarity with these types of contracts
- Senior management knowing the contractual options available and how to structure the contracts accordingly
- Analyzing and strategizing on the best approach to negotiating and managing energy contracts
Personal Impact
This GLOMACS training course teaches the competencies that enable the attendees to:
- Strategize and appreciate the company’s current risk profile relating to their energy contracts
- Have the ability to formulate a targeted approach to contracting
- Learn what are the customize solutions and also determine the best pricing strategy to meet the company’s goals
- Mitigate dramatic price increases in energy contracts and to come up with workable solutions
- Customize contracts to avoid undue penalties which can cripple the commercial viability of a project
Who should Attend?
This GLOMACS training course is suitable for a wide range of energy industry professionals but will greatly benefit:
- Contracts Professionals
- Commercial Managers & Professionals
- Project Managers
- Procurement Supply Chain Professionals
- Risk Manager / Contract Risk Professionals
- Financial Professionals in the Energy Industry
