Experts in energy modeling, consulting and training!

KYOS offers specialized advise on trading and risk management in energy markets. Our expert team has years of experience in quantitative modelling and advisory services in commodity markets. Our sophisticated solutions are developed to support decision making, investment proposals and risk calculations. KYOS has a clear focus on the following areas: Products, Consulting and Training.

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    Kyos Consulting - News & Highlights

    Gas storage and swing contracts

    Amsterdam - 10 & 11 October 2016

    Gas storage assets & swing contracts

    Once or twice a year, KYOS organizes a training course about flexibility instruments in the natural gas market, focusing on gas storage, swing and take-or-pay contracts. The purpose of the course is to provide a better understanding of the value drivers, risk factors, portfolio management, trading and hedging strategies. Particular attention will go to intrinsic versus extrinsic valuation, applying concepts such as rolling intrinsic, real options, and least-squares Monte Carlo. Another important concept in the course is the dynamic hedging of the exposures, based on either (rolling) intrinsic or delta hedging. Finally, the course provides a thorough understanding of the calibration of market parameters (volatility, correlations, mean-reversion, cointegration) as well as backtesting.

    In the course we will study how gas storage and swing contracts fit into a company's gas portfolio. You will learn how to value the instruments, and how to optimally manage them in a portfolio, and develop trading and hedging strategies around them. The course concepts can be applied to a range of different storage assets, including time-varying costs, time-varying injections and withdrawals, volume-dependent injections and withdrawals, optional rates, etc. They can also be applied to all sorts of flexible gas contracts, featuring for example gas spot and forward indexation, indexation to other commodities, penalty structures, period quantity constraints, make-up and carry-forward rights.

    Course leader: Cyriel de Jong

    Who should attend?

    The training course attracts a wide range of people active in the energy and financial sector, including energy traders, asset developers, portfolio and risk managers, energy market analysts, regulators and consultants. The course does not require any specific pre-knowledge. The instructors are used to present technical details in an intuitive manner, both appealing to quantitative and non-quantitative people.

    Book now

    Early bird price - valid until 1 September 2016: € 2,225 (excl VAT)
    Standard price: € 2,475 (excl VAT)
    Registration with 2 or more: 10% discount

    ► Book this course


    ► Hotel Double Tree by Hilton, Amsterdam

    Outline: Gas storage and swing contracts

    ► For a detailed course outline, click here.