Patrick Heather

Research Fellow

Tel: +44 (0)1865 889124
Fax: +44 (0)1865 310527
Email:

Relevant Expertise

UK natural gas market; power and carbon markets; physical and financial trading and risk management.

Current/Forthcoming Projects in the Institute

The Evolution of Gas Trading in the UK

Academic and Professional Experience

2006 –: Research Fellow, Oxford Institute for Energy Studies.
2004 –: Energy markets consultant.
2002 – 2004: Trading Manager, BG Group. Set up trading capability in natural gas and oil markets, physically and financially. Responsible for storage and capacity portfolios. Managed a team of seven.
1996 – 2001: PowerGen plc: helped set up trading capability in the natural gas, oil and, at NETA, in the power markets, both physically and financially. Traded these commodities and managed the desks.
1981 – 1995: Apart from a three year period trading a physical cocoa book, spent these years ‘learning the trade', trading and broking oil and oil products, futures and financial. Spent the last 2 years trading oil options.

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Patrick Heather: The Evolution of Gas Trading in the UK

In this study, the author will look not just at the development of the liberalised UK natural gas market but will do so from a trader's viewpoint.

This will give a different perspective from the more usual 'histories' and recall how the 'traders' club' evolved from its quiet beginnings in the mid-90's, through the influx of foreign investment and subsequent increase in the number of counterparties, to the post-Enron shake out. Following the more recent changing environment and security of supply questions, what does the future hold for UK gas trading? Will it continue to lead in the quest for a more liberalised transparent and liquid European gas market place?

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