Power and Midstream Conference 2019

Wednesday, June 12, 2019

06/12/2019, 8:00 AM

June 2019

Conference

Power and Midstream Conference 2019

Nexus of sound environmental policy & long-term capital investing

Tuesday, 21 may 2019
Lotte hotel seoul

Power and Midstream Conference 2019

Nexus of sound environmental policy & long-term capital investing
Wednesday, June 12, 2019
06/12/2019, 8:00 AM
June 2019
Moody's Headquarters
New York

Power and Midstream Conference 2019

Nexus of sound environmental policy & long-term capital investing

Wednesday, June 12, 2019
06/12/2019, 8:00 AM
June 2019
Moody's Headquarters
New York

Power and Midstream Conference 2019

Nexus of sound environmental policy & long-term capital investing

Wednesday, June 12, 2019
06/12/2019, 8:00 AM
June 2019
Moody's Headquarters
New York

Power and Midstream Conference 2019

Nexus of sound environmental policy & long-term capital investing

Wednesday, June 12, 2019
06/12/2019, 8:00 AM
June 2019
Moody's Headquarters
New York

Power and Midstream Conference 2019

Nexus of sound environmental policy & long-term capital investing

Wednesday, June 12, 2019
06/12/2019, 8:00 AM
June 2019
Moody's Headquarters
New York

Overview

Since 2005, US carbon dioxide emissions have declined by roughly 25%. Technological advancements and rising consumer demand for clean energy sources have driven the reductions, even as federal policymakers revisit existing environmental and clean power rules. Increasing demand from electric utilities is helping to position natural gas as a key carbon transition fuel,but an overabundant supply is suppressing prices – creating challenges in attracting long-term capital investment. While sound environmental policy may ultimately drive greater investment into the power and midstream sectors, risks including commodity price volatility, permitting, and technological and financial feasibility must be addressed.

Discussion themes

What are the most pressing issues currently impacting electric power, natural gas supply and transmission?

How can energy producers maintain capital discipline to restore investor confidence and generate returns in the current commodity price environment?

How are changing regulations and perceptions of environmental, social, and governance (ESG) considerations affecting different segments of the industry?

What risks are underappreciated as renewables replace coal and nuclear and natural gas supplies are exported?‍

8:00 AM – 9:00 AM       REGISTRATION & BREAKFAST

8:00 AM – 8:45 AM       Pre-Conference  Workshop: Learn how to enhance your fundamental credit analysis using                                            Moody's CreditView

8:00 AM – 8:45 AM      Welcoming  Remarks

» Michael West – Managing  Director - Global Ratings & Research 

9:15 AM – 9:45 AM      Credit trends in Energy Sectors

9:45 AM – 10:15 AM      Credit trends in Utilities Sectors

10:15 AM – 10:30 AM       Networking Break

 

10:30 AM – 11:15 AM       Energy Transition Panel: Inter-relationships  between power and energy sectors

 

11:15 AM – 12:00 PM       Environmental,  Social and Governance Considerations in Credit Analysis

» Heat maps, assessments and individual company impact

  

12:00 PM – 1:00 PM       LUNCH

 

1:00 PM – 2:00 PM       BREAKOUT SESSION I

BREAKOUT SESSIONS: Tracks A & C repeat, Track B changes.

Track A: E&P, Integrated and Oilfield Services

In  this breakout we will explore how E&P companies are adapting to shareholder  pressure to prioritize investment returns over production growth and return  more cash to shareholders. We will also discuss the implications of these  trends for services and drilling companies’ pricing power and margins. What  do these developments mean for credit ratings?

 

Track B: Utilities and Pipelines

An  increasing number of utility groups are growing their contracted  non-regulated operations in the midstream and renewables space. How do we  balance the pros/cons in our analysis:

·      Diversification benefits – new source of cash flows;

·      Impact on the credit profile - construction and  business risk

Track C: Midstream and Refining

This breakout covers how midstream  companies have a wealth of growth opportunities, but face continued  challenges in their cost of capital and obtaining the necessary social  license for new infrastructure. We will also discuss how IMO 2020 is not  quite the windfall hoped for by refining companies. How do these trends  factor into our analysis of these companies?

 

2:00 PM – 2:15 PM       Networking Break

2:15 PM – 3:15 PM       BREAKOUT SESSIONS II

Track A: E&P, Integrated and Oilfield Services

In  this breakout we will explore how E&P companies are adapting to shareholder pressure to prioritize investment returns over production growth  and return more cash to shareholders. We will also discuss the implications  of these trends for services and drilling companies’ pricing power and  margins. What do these developments mean for credit ratings?

 

Track B: Utilities and Renewables

Why low natural gas prices is renewable's best friend in  the battle against coal. Utilities have reduced  carbon dioxide emissions by roughly 25% and are on a path for additional  reductions with sizeable coal-fired generation retirements and early  closures. Replacing fossil fuel  costs with renewable energy is a popular corporate strategy. The session will  present our expectations of demand for coal, natural gas and renewables based  on various price scenarios involving price of commodities and government  policies on renewable mandates.

 

Track C: Midstream and Refining

This breakout covers how midstream  companies have a wealth of growth opportunities, but face continued  challenges in their cost of capital and obtaining the necessary social  license for new infrastructure. We will also discuss how IMO 2020 is not quite  the windfall hoped for by refining companies. How do these trends factor into  our analysis of these companies?

 

3:15 PM – 4:30 PM       Networking Reception

 

For more information

Sandra Fung

Manager - MIS Events and Outreach

Global Marketing & Events

sandra.fung@moodys.com