Natural Gas Accounting

Doing business in the gas industry has been altered significantly over the years. The Federal Energy Regulatory Commission (FERC) regulates the interstate transportation of natural gas, and as their rules and regulations have changed, so has the way gas companies must operate. Gas Accounting refers to the way the natural gas industry is required to account for the various transactions that take place for the purchase, sale and transportation of natural gas. Specifically, gas accounting includes the measurement, allocation, valuation, distribution and reporting of gas volumes, as well as the required accounting entries in a company’s financial records.

Our Gas Accounting seminar is a highly interactive and very informative survey of every aspect of gas accounting. Beginning with a discussion of the basics of regulation, the course continues by highlighting the different aspects related to dealing with natural gas as a commodity. We also address industry players, their responsibilities and monthly accounting cycles, in order to provide participants with a quick overview of how this area of the natural gas business is conducted. The seminar examines the nature of both revenue and transportation accounting. It wraps up with a question and answer session that allows participants to share experiences and communicate ideas.

Seminar Objectives:

Participants in the Gas Accounting training seminar will learn to:

• Discuss and understand the Regulatory Environment
• Understand gas measurement and the various aspects of natural gas as a commodity
• Learn the basics of plant accounting and the various processing problems
• Learn who the industry players are and their responsibilities
• Discuss the Gas Accounting Business Cycle
• Learn the different factors relating to both Revenue and Transportation Accounting
• Understand the Allocation Process and problems related to it
• Understand the various types of imbalances and penalties