parking for prior periods - i am not sure if you need to handle this using the
instructions below - or if for prior months only - if you would be allowed
to create a
cashout ticket to clear out any prior period imbalances . your controller
and volume management ( kathy kelly ) should make this call .
kim and david can brain check me on this - but i think this is how parking
should be done ; however ,
please verify with west or east desk economics to ensure accuracy / consistency .
parking procedures
create a storage deal in sitara - service type : parking
use this service deal to path to a storage account in unify - this way you
have accounted for the gas in unify
inject into storage account
withdrawal from storage account
( when you do the opposite of parking - withdrawal first - it is called a
" loan " )
create two economic deals in sitara - exchange deal
create an internal buy and sell of physical gas for economics and position
purposes - ( no invoices - fake 3 rd party )
exchange deal -
sell to cpr pipeline exchange ( parking gas )
buy from cpr pipeline exchange ( getting gas back )
within the month parking - no money exchanges hands - except any service fees
which can be recorded on the storage deal .
sell to cpr pipeline exchange ( parking gas ) - price = $ 0
buy from cpr pipeline exchange ( getting gas back ) price = $ 0
when the deal crosses a month - if you keep the risk within the desk - in the
short term you record a big loss - sell at $ 0 - and the
next month you record a big gain - buy at $ 0 . to manage this - usually the
cash desk swaps out the time risk to a storage financial book - who will pick
up the time
spread loss and offsetting gain - as this book captures forward value .
when you are adjusting your physical injections ( parking ) within the month -
you will need to
adjust your swaps too - which will adjust the p & l for the time spread
accordingly - otherwise you will have liquidation problems .
period 1 - sell to cpr pipeline exchange ( parking gas ) - price = $ 0 swap
to firm book for index + mid
period 2 - buy from cpr pipeline exchange ( getting gas back ) price = $ 0
swap to firm book for index + mid
parking
for prior periods - i am not sure if you need to handle this using the
instructions below - or if for prior months only - if you would be allowed
to create a
cashout ticket to clear out any prior period imbalances . your controller
and volume management ( kathy kelly ) should make this call .
kim and david can brain check me on this - but i think this is how parking
should be done ; however ,
please verify with west or east desk economics to ensure accuracy / consistency .
parking procedures
create a storage deal in sitara - service type : parking
use this service deal to path to a storage account in unify - this way you
have accounted for the gas in unify
inject into storage account
withdrawal from storage account
( when you do the opposite of parking - withdrawal first - it is called a
" loan " )
create two economic deals in sitara - exchange deal
create an internal buy and sell of physical gas for economics and position
purposes - ( no invoices - fake 3 rd party )
exchange deal -
sell to cpr pipeline exchange ( parking gas )
buy from cpr pipeline exchange ( getting gas back )
within the month parking - no money exchanges hands - except any service fees
which can be recorded on the storage deal .
sell to cpr pipeline exchange ( parking gas ) - price = $ 0
buy from cpr pipeline exchange ( getting gas back ) price = $ 0
when the deal crosses a month - if you keep the risk within the desk - in the
short term you record a big loss - sell at $ 0 - and the
next month you record a big gain - buy at $ 0 . to manage this - usually the
cash desk swaps out the time risk to a storage financial book - who will pick
up the time
spread loss and offsetting gain - as this book captures forward value .
when you are adjusting your physical injections ( parking ) within the month -
you will need to
adjust your swaps too - which will adjust the p & l for the time spread
accordingly - otherwise you will have liquidation problems .
period 1 - sell to cpr pipeline exchange ( parking gas ) - price = $ 0 swap
to firm book for index + mid
period 2 - buy from cpr pipeline exchange ( getting gas back ) price = $ 0
swap to firm book for index + mid