Liquefied Natural Gas

• UST called for all 'standardized' OTC derivatives; big manufacturers, transport and resource companies have complained since the original reform plans would require large margin accounts for outstanding swaps. In the past, companies were allowed to purchase loans from banks or use their assets as collateral. Provisions have already been made to exempt participants who do not own 'substantial positions' in swaps
• Europe: argument between exchanges and banks over dark pools (crossing networks: price only published after trade). Exchanges argue that the pools are subject to regulation
• CIT: more insurance than debt
• Bermuda looking to be center for catastrophe (very extreme events with sizable losses) bonds
• LNG: prices fell most of 2009 as recession hit demand; cool summer led to less electricity demand. Storage will hit 3,800bn cubic feet - highest ever. AUS looking to be the new leader of LNG (Chevron, Royal Dutch Shell, ExxonMobil - investing $38bn). Likely to surpas Qatar (current largest) in 2020 - China will be largest customer
• BG Group (UK), ConocoPhillips (US), Petronas (Malaysia) have all signed steals for coal bed methane extraction in Queensland