Project Finance for the International Petroleum Industry

ISBN-13: 9780128001585 / Angielski / Twarda / 2016 / 416 str.

Clews, Robert

Opis

This overview of project finance for the oil and gas industry covers financial markets, sources and providers of finance, financial structures, and capital raising processes. About US$300 billion of project finance debt is raised annually across several capital intensive sectors--including oil and gas, energy, infrastructure, and mining--and the oil and gas industry represents around 30% of the global project finance market. With over 25 year's project finance experience in international banking and industry, author Robert Clews explores project finance techniques and their effectiveness in the petroleum industry. He highlights the petroleum industry players, risks, economics, and commercial/legal arrangements. With petroleum industry projects representing amongst the largest industrial activities in the world, this book ties together concepts and tools through real examples and aims to ensure that project finance will continue to play a central role in bringing together investors and lenders to finance these ventures.

• Combines the theory and practice of raising long-term funding for capital intensive projects with insights about the appeal of project finance to the international oil and gas industry
• Includes case studies and examples covering projects in the Arctic, East Africa, Latin America, North America, and Australia
• Emphasizes the full downstream value chain of the industry instead of limiting itself to upstream and pipeline project financing
• Highlights petroleum industry players, risks, economics, and commercial and legal arrangements

Recenzje

"Robert Clews' Project Finance for the International Petroleum Industry fills a significant gap in project-finance literature for both the academic and professional reader. Highly recommended. " --E.R. Yescombe, YCL Consulting Ltd., UK

"The oil and gas industry is a capital intensive industry that carries very high risks in the upstream part of the value chain. The many companies involved in the upstream sector use a wide range of financial structures. Therefore, understanding how each company can finance its participation in projects and with what associated risks and costs is fundamental to the understanding of the issues at stake." --Nadine Bret-Rouzaut, IFP School, France

"Understanding different financial structures can be as important for the success of projects in the international petroleum industry as understanding physical structures and processes. This volume should help the interested reader make progress along the path towards such an understanding and to a greater awareness of many of the intricacies of project finance." --David Mayston, University of York, UK

"As experienced project finance professionals know, each sector has unique characteristics that must be take into account. Most books about energy finance emphasize financing at the expense of industry economics. In contrast, Robert Clews does a masterful job at tying together the features of oil and gas investments with the risk management and contract structures of energy project finance. During a time of dramatic changes in energy markets, this book sets the new standard for the analysis of structured finance during a period of dramatic change in energy markets." --John S. Strong, College of William and Mary, USA

Spis treści

Part 1: Introduction to Project Finance1. Characteristics of Project Finance 2. Project Finance Structures and Techniques 3. Sources of Finance and the Global Project Finance Markets 4. Commercial Banks and the Practice of Syndicated Lending

PART II: The Petroleum Industry - Commercial Risks and Contracts 5. The Petroleum Industry Value Chain 6. Upstream Oil and Gas 7. Petroleum Refining 8. Pipelines, Storage and Other Infrastructure 9. Petroleum Shipping and the Offshore Industry10. Natural Gas and LNG 11. The Petrochemicals Industry 12. Project Development in the Petroleum Industry13. Political and Environmental Risks, Tax and Insurance

PART III: Project Finance Applied to the Petroleum Industry 14. The Role of Project Finance in the Petroleum Industry 15. Project Finance Risk Analysis and Bankability16. Oil and Gas Project Economics and Cashflows 17. Project Finance Structuring and Terms18. Finance Structures for Upstream, Midstream and Downstream Projects 19. Oil and Gas Project Finance Documentation

O autorze

Mr. Clews is Head of Oil, Gas and Petrochemicals covering project finance in the EMEA for Sumitomo Mitsui Banking Corporation, one of Japan's largest international commercial banks. His experience includes project investment appraisal, project finance advisory and arranging, joint venture and commercial contract negotiations and Export Credit Agency financing.